MARK344 Lecture Notes - Lecture 2: Marketing Strategy, Strategic Planning, Outlandish
Document Summary
Strategy is the matching of the activities of an organisation to the environment in which it operates and to its own resource capabilities. Planning is an unnatural process; it is much more fun to do something. The nicest thing about not planning is that failure comes as a complete surprise, rather than being preceded by a period of worry and depression. Strategy is concerned primarily with effectiveness (doing the right things) rather than efficiency (doing what you do well). Fundamental to strategic thinking is the concept of strategic fit". For many organisations a useful starting point in strategy formulation is to define its mission or purpose. Clearly, once value statements are articulated, it is important that they are adhered to. This is a difficult but necessary thing for many organisations to articulate. Finally, the mission should spell out where the organisation is, or intends to be, posi tioned in the marketplace.
