Relating Concepts to Organization
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Relating Concepts to Organization
Strategies formulated by companies have implications on the markets targeted by those companies. Businesses will attain better results when it strategic business programmes blend well with the products and services offered in the market. The company must ensure efficient internal and external consistency of its plans, being compatible with the company operations and responsive to environmental factors. The decisions must be made at each business level on how the company will address its competitors and respond to the market environment. This means that, for an organization to ensure strategic fit, it has to tackle strategic issues surrounding it.
The strategies formulated by the company must be that which guide it on how to divide itself into strategic groups. The units must have specific objectives and the scope of customers it targets together with how it intends to build competitive advantage and distribute resources. This will in turn influence the resources committed to the market and the ultimate budget availed by the company, (PR Newswire, 2013). Divisions of the company into subunits enable the evaluation of a particular environmental product situation relevant to each unit.
Woolworths realized that the market they were to serve, and the fresh food industry was attractive. After undertaking a trial in Sydney, it opted for expansion after putting its capabilities and the resources in place to pursue the opportunities in place (Goldring, 2014). It has ensured that it considers macro and micro trends in the environment while exploring opportunities present. For instance, it is earning fortunes from its partnership with Truthworks that undertakes it’s over the internet operations (Hamza et al., 2014). It has assured that it takes on consumers and influences their choices of the company products and that the competitors do not destabilize them. It has expressed sensitivity to the market trends and took swift actions in response.
In the Journal of Historical Research in Marketing, Shaw (2012) presents “marketing strategy ideas and approaches into logical, coherent framework”. It reviews marketing concepts and terms from various literatures. It has converged three different marketing ideas into current marketing strategy. The article shows “evolutionary development of strategic marketing and redefining terms and refining ideas” (Shaw, 2012). The ideas offered in the paper are purely practical. It however offers no particular plan. Instead, it presents varied frameworks that may be confusing to choose upon.