Preview

Marketing Strategy Place of Company Nikon

Powerful Essays
Open Document
Open Document
876 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Marketing Strategy Place of Company Nikon
STRATEGY IMPLEMENTATION
The idea behind this continual process is that each step of the planning process requires some degree of implementation before the next stage can begin. This naturally dictates that all implementation cannot be postponed until completion of the plan, but must be initiated along the way. Implementation procedures specific to each phase of planning must be completed during that phase in order for the next stage to be started.

Read more: Strategy Formulation - organization, levels, system, advantages, manager, school, company, hierarchy, business http://www.referenceforbusiness.com/management/Sc-Str/Strategy-Formulation.html#ixzz1YzZon4PbImplementation of the strategic plan is the final step for putting it to work for an organization. To be successful, the strategic plan must have the support of every member of the firm. As mentioned in the beginning, this is why the top office must be involved from the beginning. A company's leader is its most influential member. Positive reception and implementation of the strategic plan into daily activities by this office greatly increases the likelihood that others will do the same.
Advertising is key to successful implementation of the strategic plan. The more often employees hear about the plan, its elements, and ways to measure its success, the greater the possibility that they will undertake it as part of their daily work lives. It is especially important that employees are aware of the measurement systems and that significant achievements be rewarded and celebrated. This positive reinforcement increases support of the plan and belief in its possibilities.

Read more: Strategy Formulation - organization, levels, system, advantages, manager, school, company, hierarchy, business http://www.referenceforbusiness.com/management/Sc-Str/Strategy-Formulation.html#ixzz1Yzah1Gio

STRATEGY FORMULATION
Basic strategic planning is comprised of several components that build upon the previous piece of the

You May Also Find These Documents Helpful

  • Good Essays

    Strategic planning helps guide a business in the right direction to achieve the goals it has set. It makes the company’s intentions clear to employees so that they know their part in the success of an organization. A strategic plan helps the members of an organization alien themselves with common goals. Employees should be committed to the implementation plan as well as poses extensive knowledge of the plan and should receive training in the new procedures in order for the implementation plan to work. This extensive training should include information for a better understanding of the importance of the strategic plan, how to handle the new procedures and also know the benefits and incentives of the strategic plan that is implemented. It is clear that without a strategic plan a business is set up for failure, without any goals not knowing where it is headed. Leaving employees confused about the purpose of their jobs and the organization wandering aimlessly, constantly changing its priorities achieves…

    • 322 Words
    • 2 Pages
    Good Essays
  • Best Essays

    MHA 612 FINAL PAPER

    • 3334 Words
    • 10 Pages

    Improvement is also needed to incorporate the values of customer, staff, and community. The public image of a company is also needs review. Further, priorities of activities for company survival in a competitive market have not been addressed. The largest gap is insufficiently detailing crucial elements allowing staff the ability to prioritize how products and services should also be rendered. The next element in the strategic process is the vision statement. A vision statement needs to portray a visual image of the organization as it performs its functions. Updated vision statements should motivate staff toward working forward to the companies preferred values. The value statement needs to present the true values of the company as opposed to the preferred or idealistic values of the vision statement.…

    • 3334 Words
    • 10 Pages
    Best Essays
  • Good Essays

    Hrm/531 Week 9

    • 525 Words
    • 3 Pages

    Strategic Management in an organization ensures that goals are set, primary issues are outlined, time and resources are pivoted, functioning is consolidated, internal environment is set towards achieving the objectives, consequences and results are concurred upon, and the organization remains flexible towards any external changes. As more organizations saw how useful strategic management is more companies started to use it, now in actuality, strategy management is the essence of an absolute administration plan. For large organizations, with a complex organizational structure and extreme regimentation, strategizing is embedded at every tier. Strategic management is so useful because it assist with faster effective decision making, along with pursuing opportunities; it also helps for the work environment in employee gratification and…

    • 525 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Hrm 531 Week 2 Study Guide

    • 2665 Words
    • 11 Pages

    Strategy Formulation – it considers how the company will compete, the the external environment, customer trends, competitive positioning, and internal strengths and weaknesses. Strategy formulation may be quite formal and last over long periods, or it may be highly…

    • 2665 Words
    • 11 Pages
    Powerful Essays
  • Satisfactory Essays

    Week 1 Discussion

    • 376 Words
    • 1 Page

    Do you think it is easier to plan a strategy or achieve it? What else has to happen for managers to implement a corporate strategy successfully? In this discussion, you will examine the strategic planning process more closely.…

    • 376 Words
    • 1 Page
    Satisfactory Essays
  • Good Essays

    Keeping in mind the goal of maximizing stakeholder wealth, companies should develop the strategic plans, which can help to move the business forward. “Strategic planning is an organization 's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people”…

    • 851 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Strategic planning includes a group of organizational processes used to locate the desired future of the organization and aid in the development of a map to guide management in a direction to achieve the objectives and goals for the organization (Varkey & Bennet, 2010, p. 46). If performed correctly, the strategic planning process lead by senior management can be a fundamental tool to create a team building atmosphere and develop the desired employee cooperation and enthusiasm for current and future change and action needed during the implementation phase (Varkey & Bennet, 2010, p. 46). The authors describe in detail how organization’s senior executive leads the team through strategic analysis including a competitive market analysis, a SWOT (strength, weakness, opportunities, threats) analysis, as well as a financial accounting and management examination in correlation with current organizational structure and processes in place evaluating where potential changes need to occur (Varkey & Bennet, 2010, p. 46). The authors stress the executives should use the strength of the strategic planning process to clarify the purpose and vision of the organization in a way which inspires employees to work as a team to reach the organizational vision (Varkey & Bennet, 2010, p.…

    • 1789 Words
    • 8 Pages
    Powerful Essays
  • Better Essays

    Communication is a very intricate part of a successful strategic plan. Collaboration with the board, executive leaders, management team all the way to front-line staff must be informed what the strategic plan is and how it relates to the mission and vision. The mission, vision, values, goals and objectives of the organization must be an organizational-wide dissemination. In order to have an effective and efficient strategic plan one must first select a strategic leader to help decide what their mission and vision will be. “Strategic leadership involves creating a vision and strategy that helps the organization succeed at its mission in both the short and the long term” (Spath, Abraham, 2013).…

    • 1041 Words
    • 4 Pages
    Better Essays
  • Satisfactory Essays

    MGT wk 1

    • 510 Words
    • 3 Pages

    In society there are hundreds of companies competing for your business on a day to day basis. As a management team it is crucial to understand strategic planning, and know how it can help you grow as a company. In corporate terms, strategic planning is making a plan as a company in order to achieve long-term goals and objectives. Upper management must think strategically first, then apply that thought to a process. The strategic management process is best implemented when everyone within the business understands the strategy. There are five stages for the management team to understand they are goal-setting, analysis, strategy formation, strategy implementation and strategy monitoring.…

    • 510 Words
    • 3 Pages
    Satisfactory Essays
  • Powerful Essays

    b. Business strategy formulation involves domain direction and navigation, or how to compete in a given area. Usually decided by division heads and business unit managers.…

    • 1583 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    EXECUTIVE SUMMARY (discuss project-focused highlights below in at least 2 pages but not more than…

    • 714 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The strategic planning process is the formulation of the company’s major objectives and execution plans. This process is of particular interest in GE. Strategy formulation is the process of choosing the best methods for a company where customer needs; competitive position and internal capability are the three factors that play the main role in strategic planning. Every manager needs to have at least a simple notion of strategic planning to formulate his strategic plans. Strategic Planning is a wide and complex subject. Strategic Management background is an essential basis of any organization.…

    • 918 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Nikon Marketing Plan

    • 2031 Words
    • 9 Pages

    The Nikon philosophies are "Trustworthiness and creativity", "Our aspirations: Meeting needs. Exceeding expectations" and the slogan is “At the heart of the image”…

    • 2031 Words
    • 9 Pages
    Good Essays
  • Powerful Essays

    Strategy Formulation

    • 2123 Words
    • 9 Pages

    Basic strategic planning is comprised of several components that build upon the previous piece of the plan, and operates much like a flow chart. However, prior to embarking on this process, it is important to consider the players involved. There must be a commitment from the highest office in the organizational hierarchy. Without buy-in from the head of a company, it is unlikely that other members will be supportive in the planning and eventual implementation process, thereby dooming the plan before it ever takes shape. Commitment and support of the strategic-planning initiative must spread from the president and/or CEO all the way down through the ranks to the line worker on the factory floor.…

    • 2123 Words
    • 9 Pages
    Powerful Essays
  • Better Essays

    Marketing Mix Nikon

    • 1506 Words
    • 7 Pages

    Alhamdulillah, first of all I would like to thank God as finally I were able to finish my assignment that have been given to me by sports facilities’ lecturer, Encik Noorazlan Bin Ab Aziz. He always listen and gives advice to me, he also taught me how to express my idea, showed me a different way to approach a research problem and need to be persistent to accomplish any goal. He always give me supports and guide to me how to do our assignment in purpose to produce a good outcome from research that been studied. Luckily, all the problems can be settled down and I were able to adapt properly and wisely. Besides that, big thank I address to the staffs Kelab Golf Pantai Sri Tujuh, Tumpat Kelantan because without their guides my project cannot be done properly like this. Place that I had choosed for this assignment is Pantai Sri Tujuh, Tumpat Kelantan.…

    • 1506 Words
    • 7 Pages
    Better Essays