Chapter 2 (Competitiveness, Strategy, and Productivity)

environmental scanning

the monitoring of events and trends that present threats or opportunities for a company

Competitors activities, changing consumer needs; legal, economic, political, and environmental issues.

What does environmental scanning include?

Tactics

- The methods and actions taken to achieve strategies -The "how-to" part of the process (how to reach your destination)

Productivity

A measure of the effective use of resources, usually expressed as the ratio of output to input

Strategies

A plan for achieving organizational goals Serves as a roadmap for reaching the organizational destinations Organizations have: Organizational __________ & Functional level ______________

Internal factors: strengths and weaknesses External factors: opportunities and threats

Environmental scanning is necessary to identify:

Competitive advantage in the marketplace

HIgher Productivity relative to the competition leads to________________

Higher Standards of Living

Higher Productivity is linked to_____________________

Competitiveness

How effectively an organization meets the wants and needs of customers relative to others that offer similar goods or services Organizations compete through some combination of their marketing and operations functions •What do customers want? •How can these customer needs best be satisfied?

Marketing's Influence on Competitiveness

Identifying consumer wants and/or needs Pricing and quality Advertising and promotion

Hierarchical Planning

Mission Goals Organizational Strategies Functional Strategies Tactics

Organizational strategies

Overall strategies that relate to the entire organization Support the achievement of organizational goals and mission

output/input

Productivity=

Functional level strategies

Strategies that relate to each of the functional areas and that support achievement of the organizational strategy

Specific

Tactics are more ________________ than strategies, and they provide guidance and direction for carrying out actual operations, which need the most specific and detailed plans and decision making in an organization.

Mission Statement

The mission is expressed in the____________ , states the purpose of the organization - This should answer the question of "What business are we in"

Goals

The mission statement serves as the basis for organizational __________ ___________ provide more detail and the scope of the mission. ____________ can be viewed as organizational destination ___________ serve as the basis for organizational strategies

Mission

The reason for an organization's existence

Core Competencies

The special attributes or abilities that give an organization a competitive edge. Example: If a competitor is able to supply high-quality products, it may be necessary to meet that high quality as a baseline.

Mission and Goals

The_________ and ___________ often relate to how an organization wants to be perceived by the general public, and by its employees, suppliers, and customers.