1Discuss fully the 4 sources of strategic change 2 Discuss f

1.Discuss fully the 4 sources of strategic change

2. Discuss fully the nature of marketing-cost analysis and the 3 issues that arise

3. Discuss fully the product-service mix analysis.

4. Discuss fully marketing implementation.

Solution

Companies make strategies (both long term and short term) to achieve their goals. These strategies are developed as a result of an organizations internal and external assessment of their strengths, weaknesses, opportunities, and threats.

Strategic change is the result of strategic management which is mainly the result function of following four things that are listed below:

Company strengths and weaknesses: Strategic change are highly a function of company’s strengths and weaknesses. A company’s strengths will provide an edge over others if they are enhanced by the organization. Similarly, the weakness also effects the strategy formulation of the company. Both play a crucial role in the strategic change that a company undergoes. The more the degree of strengths and weaknesses, the more will be the overall impacts on the strategy.

Personal values of the management executives: The management executives are a key source that play a major role in strategic change. The more the responsive and innovative the executive are, the more will be the responsiveness to the strategy formulation and implementation.

Industry opportunities and threats: Any strategy is formulated keeping in mind the Industry opportunities and threats. The strategy has to be manipulated in accordance with these two factors in order to derive the best results. If the Industry opportunities and threats are overlooked than it is more likely that the new policies will either not go very well or will fail.

Broader societal expectations: Socio-cultural factors are also a key element behind the success of a strategy. The acceptance of certain changes by the society is also very necessary so as to assure the success of any strategy.

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