Read the pages and make a BRIEF summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item. Please do not write long In developing the mission statement for any organiza-tion, one should apply the following rules of thumb:. Cost leadership. Strong management team. Efficient technological processesmission statements for the three organizations introduced inthe previous section.Assess these mission statements using the three W's-who, what, and where-as the criteria. In the first example,ICC describes who it is as follows: "a business-developmentConducting the SWOT Analysissustainable competitive advantage. The following are examplesof external opportunities that organizations may have:. Describe the who, what, and where of the organization,making sure the who component describes the organiza-tion and its customers.The rationale for conducting a SWOT analysis before pro-ceeding with the development of the strategic plan is that theorganization's plan should produce a good fit between its in-ternal situation and its external situation. An organization'sinternal situation is defined by its strengths and weaknesses.An organization's external situation is definedtunities and threatsThe strategic plan should be designed in such a way that itexploits an organization's strengths and opportunities whilesimultaneously overcoming, accommodating, or circumvent-ing weaknesses and threats.1 Availability of new customers. Expanding market for existing or potential or plannedproducts- Ability to diversify into related products and services. Removal of barriers that inhibit growth. Failures of competitors- New online technologies that enhance productivity or quality- Talented workforcecompanytheirI to helping organizations continually im-r ability to compete in the global marketplace." This. Faster time to marketThese are just some of the strengths an individual or-ganization may have; many others are possible. The key isaccurately defining an organization's strengths before begin-ning to develop its strategic plan.provedescription of who ICC is also describes who its customersare. Regardless of whether both "whosone sentence, both should be explained in the mission WhatICC does is described as follows: "provides high-quality,competitiveness-enhancing products and services" From this. Be brief, yet comprehensive. Typically, one paragraphshould be sufficient to describe an organization's mission.. Choose wording that is simple, easy to understand, anddescriptive.. Avoid how statements. How the mission will be accomplishedis described in the "Strategies" section of the strategic plan.byexplained inthecan beoppor-that exist in its business environment.Identifying Organizational Weaknesses An organi-zational weakness is any characteristic or capability that putsthe organization at a competitive disadvantage. These are ex-amples of common organizational weaknesses:Of course, other external opportunitics might be avail-able to an organization besides these. You need to identify allsuch opportunities accurately before undertaking the strate-gic planning process.mine what the company does. Where ICC is going:as reaching "an ever-increasing number of organizations inthe United States" Clearly, ICC wants to grow as much as pos-sible within the geographic boundaries of the United States,an outsider with no knowledge of ICC could deter-is describedIdentifying Organizational Strengths An organiza-tional strength is any characteristic or capability that givesthe organization a competitive advantage. The following areexamples of common organizational strengths:. Strategic confusion or lack of direction. Obsolete facilities- Obsolete processes- Weak management team. Insufficient skills or capabilities in the workforce- Poorly defined operating procedures- Too narrow a product line- Products with decreasing demand- Too diverse a product line• Poor image in the marketplace- Weak distribution system. Weak financial position- High unit costs compared with those of competitors- Poor quality in products and servicesIdentifying External Threats An external threat is aphenomenon in an organization's business environment thathas the potential to put the organization at a competitive dis-advantage. Such external threats might include the following:In the second example, BEA describes who it is as a "doair carriermestic air carrier dedicated to provwith nfeair transportation." This simple statement describesboth who BEA is and who its customers are. BEA is a do-to providing business travelers- Financial strength- Good reputation in the marketplace• Strategic focusIligh-quality products and services- Proprietary products and servicesis a domestic air carrier, and its customers are businessWhat BEA does is described as "providing business travel-travelers.. Entry of lower-cost competitors. Entry of higher-quality competitors1 Increased sales of substitute products and services. Significant slowdown in market growth. Introduction of costly new regulatory requirements• Poor supplier relations• Changing tastes and habits ot consumers. Potentially damaging demographic changesair transportation that exceeds their expectations"Where BEA is going can be seen in the following portion ofthe mission statement: "BEA provides air carrier service toand from a steadily increasing number of major hub airportsin the United States." Like ICC, BEA wants to grow continu-érsally in the United States.In the thirdexample, Pendleton Manufacturing describesdedi-who it is as a "hazardous materials storage companycaled to making your work environment safe and healthy"Many other external threats might confront an organi-zation. Accurately identifying every potential external threatbefore you begin the strategic planning process is a must.From this statement, one can easily discern who PendletonManufacturing and its customers are. Any company that ei-ther produces hazardous waste or uses toxic materials is a po-ducestential customer. What Pendleton Manufacturing does is de-scribed as follows:These are just a few of many weaknesses an organiza-tion may have. The main thing is to identify an organization'sweaknesses accurately before undertaking the strategic plan-ning process.Developing the Missionduces high-quality fireproof cabinetsfor safely storing toxic substances and hazardous materials"Where Pendleton Manufacturing is going can be seen in thatCabinetsWe have just seen that the vision statement describes what anorganization would like to be. It's a dream, but it's not "pie inthe sky." The vision represents a dream that can come true. Themission takes the next step and describes who the organizationis, what it does, and where it is going. Figure 3.3 contains thepart of the tinal sentence of the mission statement that saysit wants to serve "an ever-broadening market in the UnitedStates"All three of the companies in these examples want togrow continually but only in domestic markets. No interestis expressed in international markets. This is a major strate-gic decision that will determine the types of actions taken toachieve their respective missions.Identifying External Opportunities External oppor-tunities are opportunities in the organization's business envi-ronment that represent potential avenues to grow and gain a• The Institute for Corporate Compatitiveness (CC) is a business-devalopmentcompany dedicated to holping organizations continually improve their ability tocompete in the global marketplace. To this end, ICC provides high-quality,competitiveness-enhancing products and services to an ever-increasing numberof organizations in the United States.• Business Express Airlines (BEA) is a domestic air carrier dedicated to providingbusiness travelers with air transportation that exceeds their expectations in termsof cost, convenience, service, and dependability. To this end, BEA provides aircarrier service to and from a steadily increasing number of major hub airports inthe United States.• Pendleton Manutacturing Company is a hazaraous materials storage companydedicated to making your work environment safe and healthy. To this end, Pendletonproduces high-quality fireproof cabinets for safely storing toxic substances andhazardous materials for an ever-broadening market in the United States.QUALITY TIPStrategic VisionStrategic leadership begins with a strategic vision. Accordingto Burt Nanus, a strategic vision is a "realistic, credible, attrac-tive future for an organization." Source: www.au.af.mil/aulawc/awcgate/ndu/strat-Idr-dm/pt4ch18.html. Retrieved on January3,2012.FIGURE 3.3 Sample Mission Statements.

SWOT Analysis stands for Strength, Weakness, Opportunity and Threats analysis. This is one of the…

Read the pages and make a BRIEF summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item. Please do not write long

Read the pages and make a BRIEF summary of them with your own words, please. Mention important parts. Also, you will put your comments and ideas about the topic. please don't write item by item. Please do not write long

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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