ECON344 Lecture Notes - Lecture 4: Strategic Business Unit, Strategic Management, Marketing Strategy
18 May 2017
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5: types of organizations: business firm and non profit, strategy: long term course of action to deliver a unique customer experience (currently 1-3 years is considered long term, tactics: short term plans. 1: board of directors: oversees the corporate, business unit, and functional levels of strategy. 2: corporate: strategic management and organization goals (ceo, coo, vp) 3: strategic business unit: usually operate as independent units with their own/corporate strategy/goals within the company (canadian operation of coca cola) It costs a lot more to acquire a new customer (-) than retain an existing one (= ) based on marketing, incentives, etc. 4: functional: organized by departments with goals - information systems, finance, r&d, marketing, manufacturing, hr. 10: organizational direction: what will it do: goals: specific, measurable, attainable, relevant, time based (short/long term, marketing dashboard: helps managers assess a business situation at a glance.
