Class notes
Lecture Notes Advanced Management and Marketing
- Course
- Institution
Aantekeningen Advanced Management and Marketing
[Show more]
Seller
Follow
marijnedankaart
Content preview
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:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller marijnedankaart. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.40. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now