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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

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

Principles Of Marketing
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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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

tions on which EXECUTING THE . Eliminate administrative barriers. Every organization establishes administrative procedures for accomplishing its day-to-day work. If executing a new strategy changes the intended direction of th cedures may need to be changed correspondingly. A mistake commonly made by organizations attempting to execute a get where they are going. They contain no rigid time con- straints but, more important, give teachers the flexibility to change directions and pursue a whole new set of activi- ties if an opportunity for learning presents itself. This example holds a lesson for velop and execute strategic plans: be flexible. The assump- STRATEGIC PLAN The old saying "The best-laid plans of mice and men often go astray" is, unfortunately, all too true. Many organizations devote time, energy, and money to developing comprehen- sive, thorough, detailed plans, only to see them come apart at the seams shortly after they begin to be executed. Execution is a critical component of strategic management, but for some reason, it rarely receives the attention it deserves. Even the best plan will do no good until it is effectively executed. Consequently, it is important to devote as much energy to execution as to developing the plan. Picture the following scenario. A family plans a vacation to a national park. The parents envision a relaxing, fun-filled two weeks of camping, hiking, swimming, and biking. Their mis- sion (that of the parents) is to get away together and share some quality time as a family. Certain guiding principles concerning behavior, spending, and work sharing are established by the parents. They also set up some broad objectives concerning the various activities the family wants to pursue. Wisely, the parents involve the children in this step. Also working with the children, the parents draft strategies for accomplishing their objectives. The family had an excellent plan for an enjoyable vaca- tion, but as soon as the plan went into execution, the prob- lems began: e organization, administrative pro- who de- plan is leaving outdated administrative procedures in place. the plan was built might not be accurate. Administrative procedures put in place when the organi- zation was moving in one direction can become inhibitors when the organization decides to move in another direction. . Identify advocates and resisters. In any organization, there will be advocates and resisters when it comes to exe- The circumstances in which the plan was supposed to be implemented resources can be properly allocated and so that employees on whom the organization depends for progress can get a better picture of where the organization is trying to go. But if somebody moves the target, don't continue to shoot at the spot where it used to be. Organizations based on the most accurate assumptions possible at a given point in time However, if upon implementing the plan it becomes obvious that the assumptions are not valid or that circumstances have changed, organizations should not rig- idly adhere to steps that no longer make sense. If the plan, or I might change. Plant Planning Is necessary so that cuting the strategic plan. This is natural and should be ex- pected. As become advocates. If it fails, advocates will try to distance themselves from the plan, and resisters will say, "I told you so." This is just human nature and should be expected. Conscquently, it is important to give the plan the best pos- sible chance of succeeding. One way to do this is to all initial activities to advocates. Giving initial assignments to resisters when executing a new strategic plan is likely to ensure failure of the plan. Eventually, all employees must play a role in executing the strategic plan, but in the criti- cal early stages, stick with advocates and avoid resisters. - Exercise strategic leadership. It is important that man- agers at all levels set a positive example by (a) showing that they believe in the strategic plan, (b) ensuring that all decisions are based on the action that best supports the strategic plan, and (c) allocating resources based on priorities established in the strategic plan. - Be flexible and improvise. Plans, when they are devel- oped, are based on assumptions that may not be accurate. They are also based on a presumed set of circumstances. circumstances that, even if they were accurate when the plan was developed, might change before the plan is ex- ecuted. This is why strategic plans must be viewed as a set of flexible guidelines rather than a hard-and-fast road map from which it is impossible to deviate. Every traveler knows there will be detours on even the best planned trip. Managers who want to make their organizations compet- itive must be willing to improvise when necessary. Teachers of grades K-12 used to learn how to devel- op lesson plans. They were taught by seminar leaders and college professors to plan their daily lessons right down to the minute, with each activity assigned a specific amount of time. Of course, the wiser, more experienced teachers were able to predict the outcome of this approach, but sometimes it is best to let reality make your point for you. the plan unfolds, if it is successful, resisters will should plan thoroughly and carefully, and any part of it, is no longer relevant, improvise and move on. . Monitor and adjust as needed. Developing and executing a strategic plan is an example of the plan-do-check-adjust cycle in action. The plan component of the cycle involves developing the strategic plan. The do component is the ex- ecution phase. The check-adjust components involve moni- toring progress toward completion of specific strategies and making the necessary adjustments when : countered. Will it take longer than you thought to complete a project or activity? Adjust the time frame. Have unex- pected barriers been encountered? Decide what needs to be done to overcome the barriers, and do it. Did you complete the project only to find it didn't yield the expected results? Develop a substitute tactic and try again. . Disagreements among the children concerning destina- tions and activities adblocks are en- Problems when the children did not know how to per- form some of their assigned duties (e.g., setting up the tent at the campsite, building a proper campfire, monitor- ing daily gas mileage while the parents drove) - Attitude problems concerning various aspects of the trip, including what distance to cover daily, how many rest stops to make, and where to eat while driving to the even- tual destination As a result of these difficulties, the planned vacation of shared family fun and relaxation turned into an emotionally draining two weeks of stress, anger, and frustration. The fam- ily's problems were the results of faulty execution of the vaca- tion plan. The parents in this example failed to apply the fol- lowing steps, all of which are critical to successful execution: . Communicate. Make sure all stakeholders understand the plan and where they fit into it. . Build capabilities. Make sure all stakeholders have the skills needed to carry out their assignments and responsi- bilities in the plan. . Establish strategy-supportive stimuli. People in the workplace respond to stimuli. when trying to execute a plan, it is important to ensure that strategy-supportive stimuli are in place. Typically, in a work setting the most effective stimuli are reward and recognition incentives. It is not uncommon to find that an organization's strategic plan expects people to move in one direction, while its incentives encourage them to move in another. As teachers attempted to hold rigidly to schedules built into their into their plans, they found themselves falling further and further behind as problems cropped up that they had not foreseen when developing their lesson plans. Before long, lesson plans were scrapped and replaced by planned lessons. The difference between a lesson plan and a planned lesson can be summed up in one word: flex- ibility. Planned lessons give teachers a general direction, some expected outcomes. and loose guidelines on how to
Transcribed Image Text:tions on which EXECUTING THE . Eliminate administrative barriers. Every organization establishes administrative procedures for accomplishing its day-to-day work. If executing a new strategy changes the intended direction of th cedures may need to be changed correspondingly. A mistake commonly made by organizations attempting to execute a get where they are going. They contain no rigid time con- straints but, more important, give teachers the flexibility to change directions and pursue a whole new set of activi- ties if an opportunity for learning presents itself. This example holds a lesson for velop and execute strategic plans: be flexible. The assump- STRATEGIC PLAN The old saying "The best-laid plans of mice and men often go astray" is, unfortunately, all too true. Many organizations devote time, energy, and money to developing comprehen- sive, thorough, detailed plans, only to see them come apart at the seams shortly after they begin to be executed. Execution is a critical component of strategic management, but for some reason, it rarely receives the attention it deserves. Even the best plan will do no good until it is effectively executed. Consequently, it is important to devote as much energy to execution as to developing the plan. Picture the following scenario. A family plans a vacation to a national park. The parents envision a relaxing, fun-filled two weeks of camping, hiking, swimming, and biking. Their mis- sion (that of the parents) is to get away together and share some quality time as a family. Certain guiding principles concerning behavior, spending, and work sharing are established by the parents. They also set up some broad objectives concerning the various activities the family wants to pursue. Wisely, the parents involve the children in this step. Also working with the children, the parents draft strategies for accomplishing their objectives. The family had an excellent plan for an enjoyable vaca- tion, but as soon as the plan went into execution, the prob- lems began: e organization, administrative pro- who de- plan is leaving outdated administrative procedures in place. the plan was built might not be accurate. Administrative procedures put in place when the organi- zation was moving in one direction can become inhibitors when the organization decides to move in another direction. . Identify advocates and resisters. In any organization, there will be advocates and resisters when it comes to exe- The circumstances in which the plan was supposed to be implemented resources can be properly allocated and so that employees on whom the organization depends for progress can get a better picture of where the organization is trying to go. But if somebody moves the target, don't continue to shoot at the spot where it used to be. Organizations based on the most accurate assumptions possible at a given point in time However, if upon implementing the plan it becomes obvious that the assumptions are not valid or that circumstances have changed, organizations should not rig- idly adhere to steps that no longer make sense. If the plan, or I might change. Plant Planning Is necessary so that cuting the strategic plan. This is natural and should be ex- pected. As become advocates. If it fails, advocates will try to distance themselves from the plan, and resisters will say, "I told you so." This is just human nature and should be expected. Conscquently, it is important to give the plan the best pos- sible chance of succeeding. One way to do this is to all initial activities to advocates. Giving initial assignments to resisters when executing a new strategic plan is likely to ensure failure of the plan. Eventually, all employees must play a role in executing the strategic plan, but in the criti- cal early stages, stick with advocates and avoid resisters. - Exercise strategic leadership. It is important that man- agers at all levels set a positive example by (a) showing that they believe in the strategic plan, (b) ensuring that all decisions are based on the action that best supports the strategic plan, and (c) allocating resources based on priorities established in the strategic plan. - Be flexible and improvise. Plans, when they are devel- oped, are based on assumptions that may not be accurate. They are also based on a presumed set of circumstances. circumstances that, even if they were accurate when the plan was developed, might change before the plan is ex- ecuted. This is why strategic plans must be viewed as a set of flexible guidelines rather than a hard-and-fast road map from which it is impossible to deviate. Every traveler knows there will be detours on even the best planned trip. Managers who want to make their organizations compet- itive must be willing to improvise when necessary. Teachers of grades K-12 used to learn how to devel- op lesson plans. They were taught by seminar leaders and college professors to plan their daily lessons right down to the minute, with each activity assigned a specific amount of time. Of course, the wiser, more experienced teachers were able to predict the outcome of this approach, but sometimes it is best to let reality make your point for you. the plan unfolds, if it is successful, resisters will should plan thoroughly and carefully, and any part of it, is no longer relevant, improvise and move on. . Monitor and adjust as needed. Developing and executing a strategic plan is an example of the plan-do-check-adjust cycle in action. The plan component of the cycle involves developing the strategic plan. The do component is the ex- ecution phase. The check-adjust components involve moni- toring progress toward completion of specific strategies and making the necessary adjustments when : countered. Will it take longer than you thought to complete a project or activity? Adjust the time frame. Have unex- pected barriers been encountered? Decide what needs to be done to overcome the barriers, and do it. Did you complete the project only to find it didn't yield the expected results? Develop a substitute tactic and try again. . Disagreements among the children concerning destina- tions and activities adblocks are en- Problems when the children did not know how to per- form some of their assigned duties (e.g., setting up the tent at the campsite, building a proper campfire, monitor- ing daily gas mileage while the parents drove) - Attitude problems concerning various aspects of the trip, including what distance to cover daily, how many rest stops to make, and where to eat while driving to the even- tual destination As a result of these difficulties, the planned vacation of shared family fun and relaxation turned into an emotionally draining two weeks of stress, anger, and frustration. The fam- ily's problems were the results of faulty execution of the vaca- tion plan. The parents in this example failed to apply the fol- lowing steps, all of which are critical to successful execution: . Communicate. Make sure all stakeholders understand the plan and where they fit into it. . Build capabilities. Make sure all stakeholders have the skills needed to carry out their assignments and responsi- bilities in the plan. . Establish strategy-supportive stimuli. People in the workplace respond to stimuli. when trying to execute a plan, it is important to ensure that strategy-supportive stimuli are in place. Typically, in a work setting the most effective stimuli are reward and recognition incentives. It is not uncommon to find that an organization's strategic plan expects people to move in one direction, while its incentives encourage them to move in another. As teachers attempted to hold rigidly to schedules built into their into their plans, they found themselves falling further and further behind as problems cropped up that they had not foreseen when developing their lesson plans. Before long, lesson plans were scrapped and replaced by planned lessons. The difference between a lesson plan and a planned lesson can be summed up in one word: flex- ibility. Planned lessons give teachers a general direction, some expected outcomes. and loose guidelines on how to
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