Saturday, July 29, 2017

Service Marketing concept strategic management

What is Service Marketing:
Strategy is a unified, comprehensive, integrated plan of action that relates to the strategic advantages of the firm by challenging it’s environment”. 
                    It is designed to ensure that the basic objectives &goals of organization (or) of an enterprise achieved through proper execution by the organization.
                   Alfred D.Chandler defines “Strategy as Determining the long term organizational goals and objectives of an enterprise & adoption of courses of an action and then allocating resources necessary for carrying out them”
Strategic management:
Deciding on strategy, planning how that strategy put into effect
                   “Without a strategy an organization is like a ship without redder going around a circle .Its like tramp. It has no place to go.”
                     Strategy is defined Sharpen as “A plan or course of action which is continuing importance to the organization as a whole
      Analysis of definitions of strategy:-
      Strategy is a central understanding of the strategic management process.
      Strategy is the determination of basic long term goals &objectives of an organization.

      Set a clear direction.

      Allocating the necessary resources for implementing the course of action.

      Determining the courses of action to attain the pre-determined goals and objectives.

      Enterprise knows its strengths and weakness compared with those of its competitors.

      Identify factors in the political & social environment that requires care full monitoring.
      Need for strategy :-
Strategy is necessary in view of the following reasons.
      To take high quality project decisions
      To have and develop internal ability to anticipate change.
      To save time, money & executive talent.

      To identify, develop and exploit potential opportunities.
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