10 Facts on Strategic Marketing Management
If you are tasked with writing an informative essay on strategic marketing management, then your first step is to select a topic; but you also have to find supportive facts to use with it. This step is not always easy which is why below you will find a list of ten facts on strategic marketing management that you can use for your informative essay:
Making a strategy work effectively means more than just planning. Most of the problem with bad performance and failure to meet planned goals lies in the actual act of doing. Strategies can be created endlessly, but the real trick is to effectively implement them, a burden which falls upon the shoulders of the managers. Making a strategy work means applying proper processes, decisions, and actions.
There are skills and capabilities that managers can combine with knowledge in order to really execute good decision making.
Almost all organizations are properly staffed by good managers and people. The managers are motivated and wish to perform well, but even the best of managers and employees can be hampered in their ability to be productive and succeed as a result of poor controls, poor company policies, poor incentives, poor organizational structure, or poor operating procedures. Without these items, even the best managers will fail at ensuring success for their constituents.
Managers are responsible for understanding what makes key strategies work within the office. Having a great personality and leadership skills is not enough. Proper management relies upon more than just having the leadership skills necessary to convince employees to take charge and attempt the implementation of strategic plans within the company. The big picture is an important part of proper execution for strategic management which maintains a significant relationship among all key executive decision for companies.
Leading a successful execution requires effective management and proper change. Change management issues related directly to power, resistance, and influence. The implementation of changes is not something that should be done quickly at once but rather something which is deliberate and should be completed in a sequential fashion. Many companies believe that speed is the most important component to changing structures within their company but speed can literally kill any potential changes a company is trying to implement.
In order for companies to make proper mergers and acquisitions, strategies which fit the real world issues must be applied: the core of this management faces is the saying that failure is not an option. Many mergers and acquisitions have ideally suited strategies but failed in the implementation steps.
Execution functions as a key to success, something which is not a simple task. Many companies have a distinct corporate culture and structure, or more specifically they have a specific way of doing things. When a company has to adapt to a new competitive environment it often faces major changes the implementation of which is difficult at best. Developing competitive strategies is not a simple task but the challenges which relate to the execution of the said strategy are significantly more complicated.
Execution demands a disciplined process or a specific logical set of activities which an organization can incorporate in order to make sure the strategy is executed properly. If there is no planned approach to the execution, then none of the strategic goals a company has in mind can be attained. What is more important is that even if a company has developed a logical approach, its execution does not guarantee success. Trouble might play any company division and without proper support and logical plans it can be challenging to implement new strategies.
Planning is imperative to any change management within a company structure but focusing on making strategy work through proper execution is the best way to guarantee success. The part of the reason that many companies focus so heavily on the planning aspects of all management without putting the same if not more focus on the implementation and proper execution of said plans is because managers are not taught to assume that role and its responsibilities. Instead managers learn not how to execute but how to plan. In many higher level master’s programs for business a great deal of students’ focus remains on strategy formulation as well as functional planning. There are courses offered for marketing strategies, financial strategies, and competitive strategies but no courses focus on their execution. As a result, the conceptual work on planning is something properly developed in school but the execution of that plan is not. Once managers attain workplace positions they are well prepared for strategy and planning but they are not prepared for execution. This lack of attention on execution results in mistakes and frustrations and even company failures.
In addition to not learning how to properly execute a plan many managers believe that the execution or implementation of a strategy is something below them, something which is best left to those employees who have lower ranking than they. Many do not want to involve themselves in the actual implementation or execution and instead view their job as only the creator of strategy. Top level management worries about strategy formulation and the development of a good plan but then they turn the management of that plan over two people below them, never actually integrating themselves in the proper execution process. It is believed by the planners that what they create is something based on higher intellect and the people who just have to follow the orders of that plan and make it work are not necessarily as smart as they are. It is often incorrectly believed that the execution of a plan involves less intelligent and less ability than the actual planning.