Management (Coursework Sample)

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It is significant to pay attention to the landscape of the business environment in order to succeed in it. There are numerous factors that dictate the shape that business takes when different market forces join. Manager, entrepreneurs, and business owners play a vital role in keeping their business operations alive. However, the best way to keep a business venture healthy is by keeping track of the present competitive position. This way, it is easy to maintain steady growth, regain lost business deals, as well as create strong competitive edges over other competitors. With this in mind, one has to embrace key considerations, which play a great role in keeping business competitive.
It is significant to take care of the image presented by the company’s branding strategies. This helps the managerial team to keep in check the difference they make in their market scope. This difference can be caused by a variety of factors such uniqueness of the services offered. Singularity in branding makes a business stand out from the rest.
The ability to develop an effective international marketing plan is also a key factor towards raising the competitive bar. This is important in that it involves analysing the factors affecting an organisation’s competitiveness both internally and externally. A company should be able to define it foreign target region in order to deliver to its target market.
A business venture should also keep its mission statement alive in order to keep in line with its aims and objectives. Keeping this in check makes sure that the venture takes full control of its internally oriented environmental factors. This positively influences the organization’s competitiveness. Leveraging business weaknesses and strengths are also a meaningful consideration. Additionally, it is necessary to evaluate the available growth opportunities in all target markets.
It is advisable to strike a state of balance between what a company needs and what it is neglecting. It is possible for a venture to allocate most of its resources in the fields which should be given minimal attention. This imbalance can be catastrophic if not balanced in good time. A company should be well aware of the areas in which maximum resources should be objected towards in order to maximise on returns.
The above factors show that it is possible to compete in the chosen market scope. This is because the organization has taken the time to build a firm foundation in terms of resource allocation, as well as competitive evaluation. The organization believes that settling for the right game matters most. Therefore, analysing the right stake is more valuable than gambling on speculative ventures.
The decision to settle on a particular market group has come to be on evaluating the number of potential customers. Additionally, there has been a careful consideration on how much money circulates in the target market and a comprehensive research has been conducted on the customers’ spending strategies. The needs of customers in question also have needs which have been studied from a professional point of view. Since the criteria of choosing the right market solves the challenge halfway, all that remains is to choose the right time to execute the organisation’s business strategy.
In as much as professionalism has been a key factor in the decision making processes in the organization, criticism is completely vital. If someone disputes this decision, the best thing to do is to give ear to their reasons. However, one cannot dispute the organisation’s decision without clear judgement, and valid reasons as to why they present a different proposal. If they are reasonable enough, the best thing to do is to take their opinions into account.
When evaluating the global market for the organization in the future, it is i...