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Lecture Notes Advanced Management and Marketing
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Aantekeningen Advanced Management and Marketing
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Advanced Management and Marketing3 Januari – Lecture 1
The problem of general and marketing managers: decision-makers in a complex setting,
appointed to solve open-ended, multi-faced problems.
Lecture 1 Management
Strategic decisions are likely to:
- Be complex in nature
- Be made in situations of uncertainty
- Affect daily decisions
- Require an integrated approach (thus inside & outside an organisation)
- Involve considerable change.
Defining strategy = The long-term direction of the organisation.
- 3 horizons
- Follow objectives or an emerging coherent pattern
- Firms as discrete entities or relates internal and external persons and groups.
Four ways to define an organisation’s purpose:
- Mission statement
- Vision statement
- Statement of corporate values
- Statement of objectives
Mission statements = to provide employees and stakeholders with clarity about what the
organisation is fundamentally there to do.
- The overriding purpose of the organization
Vision statements = a vision statement is concerned with the future the organisation seeks
to create.
- Desired future state of the organisation
Statement of values = the underlying and enduring core ‘principles’ that guide and
organisation’s strategy and define the way that the organisation should operate.
- Values do not change with circumstances.
Statement of objectives = statements of specific outcomes that are to be achieved.
- Often financial; market-based; competitive advantage; triple bottom line
Strategy statements main themes:
1. The fundamental goals (mission, vision, objectives) of the organisation
2. The scope or domain of the organisation’s activities
3. The particular advantages or competitive superiority
Scope= domain of the organisation’s activities.
,Advantage= how the organisation will achieve the objectives set regarding its chosen scope.
Corporate-level strategy= concerned with the overall scope of an organisation and how
value is added to the consistent business units.
Business-level strategy= concerned with the way a business seeks to compete successfully in
its particular market. -> competitive strategy.
Functional strategy= concerned with how different parts of the organisation deliver the
strategy effectively in terms of managing resources, processes and people.
Exploring strategy:
- Includes understanding the strategic positions of an organisation,
- Assessing strategic choices for the future and,
- Managing strategy in action.
Strategic position = concerned with the impact on strategy of:
- The macro-environment
- The industry environment
- The organisation’s strategic capability (resources and competences)
- The organisation’s stakeholders and the organisation’s culture.
Strategic choices = involve the options for strategy in terms of directions in which strategy
might move, and the methods by which strategy might be pursued.
Strategy in action= concerned with how chosen strategies are actually put into practice.
Lecture 1 Marketing
The marketing concept: the key to achieving organizational goals is being more effective
than competitors in creating, delivering and communicating superior customer value to your
target markets.
Differentiation = creating tangible or intangible differences on one or more attributes
between a focal offering and its main competitors.
Positioning: a set of strategies a firm develops to differentiate its offering in the minds of its
target customers. Successful positioning will result in the offering occupying a distinct,
important, and sustainable position in the minds of the target customers.
,Guest lecture 1
, 5 forces model Porter:
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