Relationship Marketing – Company and Marketing Perspective
We are living in the high tech times. Technology and changing economy have changed the rules the way a business is done. Business organizations have to tune in to various markets and know the customers well. The successful companies are those who have been able to anticipate the customer need and innovate future products leveraging […]
Product Value Proposition and Business Process Re-engineering
Success of Business Managers and Marketing Managers depends largely upon short term goal of achieving targeted sales as well as focusing continually on long term strategies to grow and retain the leadership in the market. Becoming a brand leader and continuing to retain the leadership calls for the Organization to continually be in touch with […]
Integrated Marketing Communications – Meaning and its Components
It is essential for organizations to promote their brands well among the end-users not only to outshine competitors but also survive in the long run. Brand promotion increases awareness of products and services and eventually increases their sales, yielding high profits and revenue for the organization. To understand integrated marketing communication, let us first understand […]
Managing High Performance Teams to Gain Product Leadership
Take a look at organizations that are considered to be product leaders in their respective fields like Intel, Google, Microsoft, Apple, GE, 3M, and Phillips etc. It is evident that the Organizations are totally focused on innovation and R&D. Developing, improving and creating products for tomorrow as well as thinking of the future. It is […]
Retail Management – Meaning and its Need
What is Management? Management refers to the process of bringing people together on a common platform and make them work as a single unit to achieve the goals and objectives of an organization. Management is required in all aspects of life and forms an integral part of all businesses. Retail management The various processes which […]
The most important and widest degree of business objective is termed as the vision of the organization. This is a declaration of large ambition. It concerns with the position that the organization expects to achieve in the future. The vision is related to the strategic intent of the organization. It is an effort by managers to recognize the space between the existing situation of the organization and required position to be attained in the future. It is maintained that the vision of the organization has to be connected to core competences and to potential environmental conditions.
An organization intending to have a global business in requires a transnational strategy. Such a strategy demands a global vision. This entails that the entire world is considered as a possible market place. Competition is looked up on as a worldwide feature. Function are to be are constituted to take advantage global benefits. Operations have to be managed on a global scale. In addition, possibly most prominently, the organization has to possess a transnational attitude, culture and view point.
It can be seen that a global strategy is, to a considerable degree, a business attitude or mode of thinking possible in an organization. Consequently it is critical to comprehend about the level to which a business is adjusted to have a global perspective. It can be claimed that the scheme of values of an organization, which will comprise of its past and growth, its techniques and routines, its foresight and organizational culture will form managerial viewpoint in the direction global strategy.
A valuable structure for classifying the philosophy of an organization is provided by the EPRG matrix. As per this matrix philosophy of an organization will belong to one of the four groups which are as below
Each one of these above mentioned philosophies have connotations for the probable strategy of the business implementing it. It is the responsibility of the Manager to evaluate the principal philosophy of the business. The manager has to find out the degree to which it is to be equipped to sustain and promote a worldwide attitude to business.
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