Strategic Management Essay Example | Topics and Well Written Essays - 2250 words

Strategic Management - Essay Example Therefore, to understand the identity of Tolapp Corporation and define it, clear perception of what is being conveyed in the corporate communications to their audiences, like the sales papers inserted in the newspapers twice a week, is essential. The mission statement is an essential component of corporate communication in establishing its identity. It aims to achieve this externally by expressing what its various target audiences can expect from the services and products (Schnelle, 2008). The corporate communications to their audiences, like the sales papers inserted in the newspapers, is a primary source for the information required for preparing the mission statement for Tolapp Corporation. The synopsis of Tolapp Corporation provided, gives information on the products of the organization, manufacturing locations of their products, and the distribution chain used by Tolapp Corporation to male their products available to their customers. The nine essential components of a mission st atement are customers; products and services; markets; technology; concern for survival, growth, and profitability; philosophy; self-concept; concern for public image; and concern for employees (Rigsby & Greco, 2003). The mission statement developed for Tolapp Corporation is as follows: At Tolapp Corporation we strive to provide energy saving power products, globally acclaimed, through innovative ideas in the creation, development, and manufacture of our products that exceed expectations in value for our customers, and thereby fulfilling the aspirations of all our stakeholders. We believe that to achieve this, empowerment of employees, development of sustainable operations, and commitment to the natural environment is essential. Principle for Prioritizing of Implementation Steps The principle for prioritizing the implementations towards achieving strategic objective of penetration of the global market place is developing the strategic priorities, and developing a response plan on th e basis of the strategic priorities. For example, understanding which country markets are the strategic priorities towards achieving the strategic objective of the global market expansion makes it possible for developing a response plan for penetrating the market of that particular country, and the order in which the markets of different country markets need to be tackled for successful achievement of the strategic objective of global expansion. This priority is necessary as resources are always limited and it is only through the identification of strategic priorities that successful prioritization of resources can be achieved. In addition, by identification of strategic priorities response planning consisting of identification of actionable goals ?communication of priorities ? understanding what can be done ? iterative work ? outcomes review ? next strategic priority can be undertaken (Cooke, 2010). Thus, using the principle strategic priorities helps in identifying and prioritizat ion of the implementation steps towards achieving the strategic objective of penetration of the global market place by Tolapp Corporation. Feedback Mechanisms for Evaluating Effectiveness Monitoring and controlling the response plan of global expansion as a strategic objective is necessary to evaluate the effectiveness of the response

The experience economy perspective proposes to change the way products Essay

The experience economy perspective proposes to change the way products are, designed, promoted, and consumed. What are the marketing consequences of adopting this approach - Essay Example ys a high pressure that the companies will undergo due to the needed change to improve and stay in sync with the changes in the markets (Brownlie, et.al, 1999). There are also a number of companies that fail to realize the new realities which leads to unwanted and dramatic consequences. The experience economy, in a number of ways, proposes the need for a change in the products in terms of design, promotion and even consumption. This paper aims at understanding the various changes that companies need to undertake in terms of the marketing of these products. The paper will deal with in brief the various changes that are expected from the companies to change in the product in terms of design, promotion and also consumption. Following which the marketing consequences will be discussed in detail. With the growing change of economies and the various technological developments, there has also been a clear change which has been required from the companies as well. The needs of humans change over time and taking the example of Maslow’s Hierarchy of needs, it is clear that there is a strong connection between the economic growth and the personal choice in the current economy (Buchanan & Huczynski, 2004). In the earlier days, the economy would be able to meet us to the people’s needs and requirements. The basic needs and Maslow’s Hierarchy’s first step of basic needs like food were easily provided and the growth of the industries led to provide the necessary goods to satisfy the other needs like the safety until the social acceptance and also status. However in the recent ages, with the use of the World Wide Web and the internet, there have been a few changes in terms of the desire for knowledge, which were earlier satisfied by the information economy w hich provided for answers to the cognitive needs and also the desire for knowledge. There have been changes in almost every sector of the industry and the World Wide Web is now providing the companies with a strong