Alle Beiträge von Bart Icles

Looking Into Strategic Management

Why do some corporate strategies succeed? And why do some of them fail? The answer is in effective strategic management. While most managers and executives are quite familiar with what strategic or institutional management is, many of them do not really have a good grasp of what this concept really means. And also, many of them fail to see that an understanding of strategic or institutional management should not only be kept within the managerial or executive level. This concept should be understood by all the people who are part of the company.

Strategic management is simply the formulation, implementation, and evaluation of cross-functional decisions and strategies that are aimed to help the company or organization achieve its long-term goals or objectives. It involves developing and specifying the mission, vision, objectives, policies, and plans of the company or organization. More often than not, these are expressed in terms of projects and programs designed to achieve the goals or objectives of the company or organization.

It also involves the proper allocation of resources so that the policies, plans, projects, and programs can be successfully implemented. In this manner, the mission, vision, and objectives that have been set can be fully realized. To help check whether the company or organization is on track, a balanced scorecard is often used. Through this balanced scorecard, the overall performance of the company or organization can be evaluated to check its progress towards the achievement of its goals or objectives.

While strategic management is meant to be a level of managerial activity, it also involves everyone in the company or organization. It involves the formulation of goals by thinking about doing more than just tactics. It helps give an overall direction to the company or organization. And more than just having a strategic alignment within the company, it also seeks to have a strategic alignment between the company or organization and its environment.

Simply put, strategic management is an ongoing process that seeks to evaluate and put control on the different businesses and industries that a company or organization might be involved in. It also helps evaluate competitors to help set specific goals and strategies so that existing and potential competition can be met or addressed. More importantly, it re-evaluates the each of the different corporate or organizational strategies regularly to help determine how it has been implemented, and whether the strategies have succeeded or they need to be replaced with new ones to better address different corporate or organizational and environmental changes.

CMOE has been helping companies with team building and strategic management since 1978. By using a team building consultant and other innovative business techniques CMOE has established themselves a leader in the business world. Visit www.cmoe.com for more information.

Quality SEO Firm

In business, quality service guarantees quality results. This is how an SEO firm should deliver its services – it must be able to provide quality service so it can deliver quality search engine optimization results. So what are the results that clients can expect from working with a professional SEO company?

SEO results come in the form of top page results in major search engines, especially in Google, for a wide range of very relevant keywords. It also means significantly increasing traffic towards its clients‘ websites as driven by search engine results pages. There must also be a sizeable increase in conversions on the website itself and there should be quantifiable returns on investment which will justify the search engine optimization process as a method for generating profits.

The aforementioned quality results can only be successfully achieved through the delivery of quality services. You might be asking, what does it really take to create these quality results. Any search engine optimization campaign must start with a thorough and strictly adhered-to research process. This includes an analysis of the website and keywords. It must also cover a competitive analysis. Doing so, an SEO firm will be able to determine where its client’s website is right now, where they want it to be, how high the bar should be set, what they need to attain success, and what are the main priorities that will help them gain the most number of successes in an efficient way.

A strong collaborative relationship must also exist between the client and the SEO agency and this should already be established before the whole SEO process begins. Through having this strong relationship, effective and efficient implementation of the different elements of the process would be easier. These include writing content and developing additional multimedia content. After everything is in place, an SEO company will be able to provide its client with a statistical analysis that will enable them to develop steps on how they can optimize conversion.

Indeed, delivering quality service might sound easy and ordinary but it is seldom that you can come across with an SEO firm that can provide you with such services. If you are looking for a reliable firm to work with, check an SEO company’s track record on research, client collaboration, process implementation, statistical analysis and conversion optimization, and pay for performance payment schemes. In this world of competitive internet marketing, quality SEO service is always a must.

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More Visibility With The Help Of An Internet Marketing Firm

Most companies today have taken steps in making themselves visible online, often through websites. However, only a few companies are able to realize and understand the huge potential of their online home pages. An internet marketing firm can help companies have a better grasp of the better brand awareness, valuable leads, and profitable sales that their websites can generate.

A lot of companies do not realize that having a well-designed website is not enough. There are tons of other websites online and in order to become noticed, a website must stand out from the rest. When companies seek the help of an internet marketing firm, they see that the latter would often recommend optimizing their website. So far, search engine optimization appears to be one of the most effective internet marketing strategies to rank better in online search engines. Each day, internet users type in billions of keywords, key phrases, and key terms into search fields in the hopes of finding what they are exactly looking for. This is the very reason why being visible to searchers is truly essential.

To take advantage of the many benefits that different internet marketing strategies offer, companies can utilize the services of an internet marketing firm. It is always a plus to come across an internet marketing firm that has years of experience in both advertising and online marketing. An internet marketing firm must not only have a good team of experts, it must also have experience in working with various companies from different industries. This is important because an online marketing firm must understand that different companies have different websites, as well as different needs.

Other than search engine optimization, some of the internet marketing solutions that an internet marketing firm can offer include pay per click advertising, website promotion and marketing, SEO copywriting, and website statistics and reporting.

One should think of the internet as a marketing tool, very much like television, radio, publications, and direct mail. But unlike traditional media, the internet is an avenue for companies to reach more and better targeted customers. An internet marketing firm must take steps to turn mere internet users into customers. This can be made possible through matching a web searcher’s needs directly to the products and services that a certain company offers. In this age where most products and services appear to be similar, it can be hard to bring more value into what companies offer. Through websites, however, companies are able to make better statements so they can be noticed by potential customers. With the help of internet marketing firms, companies can harness the power of the internet to their advantage.

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Strategy Implementation

One important part of strategic management is the implementation of strategy. Strategy is most effectively implemented when the people involved in the operations of the business are action-oriented and operations driven. Effective strategy implementation is also a systems management activity that involves leading, motivating, organizing change, engineering business processes, and creating strong fits between strategy and how the business does things. Someone who intends to implement strategy must be able to put the strategic plan into action. He must be able to identify what needs to be done and start working on it in order for the targeted strategic and financial goals to be achieved. With all these factors involved, one can say that strategy implementation is more challenging and time consuming than developing strategy.

Strategy implementation is a tough management job as it involves a variety of managerial activities. There is also a lot of different ways to approach each and every activity involved in implementing strategy, and the whole process also requires distinct and diverse people management skills. Those who are tasked to implement strategy must also have a lot of perseverance in making a lot of waves while various initiatives are being launched. Those involved in strategy implementation must also be able to overcome their resistance to change for the whole process to be successful.

Implementing a new strategy also requires leaders to have adept managerial relationship. This is important because business leaders and executives must be at the forefront of overcoming disagreements and pockets of doubt. They must also lead their people in building a consensus on how to proceed with the various initiatives included in the strategy being implemented. Strategy implementation leaders must also secure the commitment and cooperation of all concerned parties to get all the implementation pieces in place.

In implementing strategy, concerned parties must keep in mind that every manager has an active role. There are also no 10-step checklists and few complete guidelines on the things that need to be done as strategy implementation is the most open-ended part of strategy management. During this phase, dos and don’ts are best derived from personal experiences, case studies, and anecdotal reports, no matter how inconsistent are the wisdom that they yield. This is true since each implementation situation occurs in a different context, often influenced by different business practices, competitive situations, work environments, policies, compensation incentives, and mixes of personalities and firm histories.

Just when you think you can lay back and rest during strategy implementation, think again. Strategy implementation must be approached in a rather customized way and one should not forget that it is the people who implement the strategies, not the business.

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Expanding Your Market Through the Internet

Decades ago, when an interconnected network of computers was first conceptualized, having this technology integrated into the business world was rather unexpected. Today, the Internet has made a significant impact on marketing, wherein businesses and technology experts have devised ways to integrate the power of the information superhighway and the dynamic world of marketing.

We understand internet marketing as the process of creating, communicating, exchanging, and delivering offerings that have value for customers, clients, partners, and society over the internet. Internet marketing has an interactive nature in terms of giving immediate responses and eliciting responses, making it a unique business medium. The scope of internet marketing includes not only the Internet but also e-mail, wireless media, digital customer data management, and electronic customer relationship management systems.

Internet marketing is not just merely the marketing of products and services through the internet; it is also the placement of media along various phases of the customer engagement cycle. This can be done through search engine optimization or SEO, search engine marketing or SEM, e-mail marketing, banner ads, and Web 2.0 strategies. Internet marketing is also associated with the following business models: e-commerce, publishing or the sale of advertising, lead-based websites, and affiliate marketing.

Compared with the ratio of the costs against the reach of target audiences, internet marketing is relatively inexpensive. Through internet marketing, businesses are able to reach a wider audience for only a small fraction of conventional advertising costs. With the internet, consumers are able to research and purchase what they want at their own convenience. In this type of marketing approach, businesses can take advantage of making an impact to customers in a medium that is able to deliver results quickly. When evaluated, the success of an internet marketing campaign strategy and its effectiveness can be gauged with the business goals as a guide and cost-volume-profit analysis as a tool.

Internet marketing can also measure statistics easily and inexpensively. Advertisers can use a lot of methods in marketing their offers through the internet. They can choose from pay per click, pay per play, pay per impression, or pay per action campaigns. These different campaigns make it easier for internet marketers to determine which offerings are more attractive to their audience.

More recently, new strategies have been added to the world of internet marketing. The process now includes article marketing, social media optimization, inbound marketing, lead scoring, classified advertising, in-text advertising, media transparency, and online identity management. ioVentures is one of the many companies who have used the power of the internet to help their clients. The company offers internet marketing services that include SEO, pay per click, blog marketing, reputation management, conversion rate optimization, search engine friendly web design, and site analysis and recommendations. ioVentures is confident that it can help businesses in their internet marketing strategies in one way or another.

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Developing Leaders

In these challenging times, more and more organizations are looking for ways to cut their costs while working their way through deficits. There are organizations that believe the simplest and most painless way to manage costs and revenues is through cutting the budget for employee training. However, organizations who are able to see the long term understand that organizational success relies largely on the development of human resources, especially on the competence of the organizational leaders.

There are lots of materials that speak about leadership development. Oftentimes, organizations adhere too much on tips given by such materials that they fail to realize that there are approaches that do not fit their organizational leadership needs. The success of a leadership development programs depends on the fit between the needs of an organization and the approaches being applied to address the problems.

Organizations must understand that leadership development is not about merely reading journals and articles on the subject or participating in trainings and seminars that focus on leadership development. Leadership development and sustaining it is a continuous process. It must be customized to the needs of a specific organization for its benefits to be fully-optimized. Although there is no perfectly canned leadership development program, there are approaches that yield better chances of achieving success in leadership development.

Successful leadership development starts with planning. Organizations must able to identify their present leadership status so it can better gauge given by its leaders and mere members. Organizations must be able to ask themselves and at the same answer the following questions: Do we have an all-inclusive for human resources development? What are the new concepts or ideas that our leaders can learn from leadership development programs? How much time, money, and effort are we willing to spend on developing leadership? Who are the people who are most in need of leadership training? What kind of education, training, and work experiences do they have? How many years have they spent on these? What are the personalities of the targeted participants? What best motivates them?

The next step would be putting the leadership development program into action. In this stage, organizations must ensure that the program they are trying to implement is able to help meet its needs. As a follow-up to the leadership development program, organizations must also give room for coaching or mentoring. Effective coaches and mentors can help decrease learning curves, enabling organizations to realize faster returns on their leadership development investments.

As leadership development is a process, it must be reiterated throughout the lifecycles of different members of the organizations. From entry to exit points, the organizational idea of what a successful leader is must be constantly indoctrinated. Also, leaders must not be left stagnant with ideas. In any organization, leaders often make good mentors and coaches.

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Understanding Coaching

The past few years have witnessed the rise in the popularity of coaching as a tool in employee development. However, there are still organizations that continue to see failure in implementing coaching initiatives. Oftentimes, failure stems from a certain lack of understanding coaching and its role in organizational success and development.

Let us review the purpose of coaching. More often than not, companies embark on coaching programs help develop leadership and interpersonal skills. Coaching also helps develop self-awareness by allowing individuals to become more aware of their shortcomings, as well as growth opportunities. It also helps individuals to review their past work behavior and how this has affected his or her performance and other people. Coaching is also one way of helping people balance their professional and personal roles more effectively. Organizations also use coaching as a tool in improving performance and work relationships.

It is also helpful to understand the differences in the roles of managers, mentors, and coaches. Managers assume more formal roles in the organization. Their job is to make sure that the main tasks of individuals, teams, and the organization itself are met. Simply put, managers place the accomplishment of organizational tasks ahead of the others.

Mentors on the other hand have closer interpersonal relationships with other individuals in the organization. They help protgs understand the organization and their roles in the organization. Coaches are more concerned with professional and personal growth. The most effective coaches are usually those who are not associated in any way to the company aside from giving coaching.

Adopting a coaching method really depends on the kind of organization that needs it. When organizations want to identify which areas to improve on, what tools need to be applied, and what processes are needed to improve organizational performance, it would be helpful to adopt an engineering approach to coaching. However, if organizations want to employ coaching to help employees incorporate the various elements of their lives so they can achieve psychological integration and social harmony, a more clinical approach to coaching might come in handy.

There are also different kinds of coaching that can help organizations develop a coaching culture. External personal coaching requires coaches to be totally independent from the company except for the coaching task alone. Each and every individual from the organization can benefit from external personal coaching as this allows individuals to explore sensitive professional and personal themes. Team leadership coaching requires leaders to help their members think psychologically in an organizational environment. Peer coaching allows individuals in organizations to confide in each other, work interdependently and collaboratively, and discuss and resolve professional and personal conflicts as they arise.

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The Strategic Thinker

How does one become a strategic thinker? There is no definite process in molding strategic thinkers but over the years, experts have identified qualities that define a strategic thinker.

Strategic thinkers have visions. They do well in coming up with strategic purposes and developing visioning processes. One can say that strategic thinkers are sharp visionaries. Strategic thinkers are also lifelong learners. They use their experiences to better understand and evaluate strategic issues. They always try to continuously improve in everything that they do.

Strategic thinkers know how to manage their time efficiently and effectively. They give importance to time and they can be thought of as strategic time management masters apart from being visionaries. Strategic thinkers have high levels of awareness when it comes to the things, opportunities, and changes that occur around them. They are also open to absorbing as much information as they can. They are receptive even to the subtlest internal and external clues which they can use as guides to the direction that they might take in the future. These clues also help them detect concealed opportunities. Strategic thinkers, being masters of time management, take in all these information and give time to evaluating them so they can plan for next steps, and work on issues and challenges that might lie ahead.

Strategic thinkers are patient. They understand that strategic thinking is about long term plans and goals, and not about today, tomorrow, the day after, or next week. They also have clearly identified goals that are subject to frequent evaluation. It is important that strategic thinkers review their plans and objectives regularly to check if they are in-line with the overall strategy of the business. Reviews and evaluations also enable them to foresee twists that might keep them from achieving their goals.

Strategic thinkers are open-minded. They do not place limits on themselves by frequently giving opinions on their thinking while they come up with ideas. They keep their minds open and they make assessments of the details after they have carried out such plans. In being open-minded, it is important to note that strategic thinkers are also realistic. They have pragmatic approaches in generating ideas and they are honest about the things that they deem feasible in the longer term. Being open-minded and realistic at the same time help ensure and facilitate higher probabilities of delivering success. It is often said that strategic thinkers give few promises but deliver lots of results.

Strategic thinkers are able to recognize the fact that they are not all-knowing. They humbly seek advice and perspective from others. They work with others to have a grasp of what they think and how they think.

Of course, strategic thinkers are not robots. They know that they have to take time out for themselves occasionally. The competitive world can burn them out, so it is important that strategic thinkers get some time off to relax so they can bounce back and start thinking strategically again.

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Managing Strategy

There are certain concepts that dominate how we presently understand strategy and strategic management. These schools of thought range from primitive design and planning disciplines to more modern environmental, cultural, and learning concepts.

Some of these schools of thought are categorized as prescriptive, descriptive, and both descriptive and prescriptive. Prescriptive schools of strategic management include the design, planning, and positioning approaches. The design school tries to determine a good fit for businesses through conducting case studies on strategy making. These days, the design school is thought of as neither analytical or intuitive and too static for this age of rapid change.

The planning school of strategic management supports concepts on formalizing strategy through the creation of programs. However, it does not support real time strategy formulation, nor does it egg on creative accidents. The positioning school on the other hand is based on concepts from Sun Tzu’s „The Art of War“. It analyzes different factors that affect strategy formulation and from these evaluations, calculates strategies that can be adopted by business managers. The downside of strictly sticking to the positioning school is that it reduces strategy to generic positions chosen through various analyses of industry situations.

Descriptive schools of strategic management include several approaches such as entrepreneurial, cognitive, and leaning. The entrepreneurial school focuses on centralized strategies, mainly based on the business leader’s intuition. In the cognitive school, strategies tend to be too subjective and often remain as mere strategies in the minds of those who formulate them. Strategies in the cognitive school are often created out of worry, wherein they are used to cope with the different factors that affect the business. The learning school pushes for adaptive strategy, wherein businesses play with strategies rather than pursue them. In the process, business leaders learn and in turn, strategy development tends to become a rather chaotic process than a result-oriented one.

The configuration school is an example of the combined descriptive and prescriptive strategic management. In this school strategy tends to be polarized, often favoring either incremental or radical change. Strategies also tend to be integrated rather than adaptive.

Academics and consultants often focus on specific schools of thought, while business managers start to appreciate that they will better reap the fruits of strategic management when they try to have a view of the bigger picture. Strategic management starts to fail when academics, consultants, and business managers limit themselves to a single school of thought and take its concepts too seriously. So it is important that strategic managers are able to see the need for a wider yet systemic perspective, and better practices combined with narrow techniques or theories.

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When Thinking Strategically

Experts in the field of marketing often say that strategic thinking is important in every venture. And yet, not everyone engaged in business has a solid idea of what strategic thinking is. To start, strategic thinking focuses on discovering and improving unique opportunities to create value. This is possible through facilitating a challenging and ingenious dialogue among people who can influence the direction that a company takes. Strategic thinking is an input to strategic planning. It is a way of recognizing the basic drivers of a business, and a way of thoroughly challenging conservative beliefs about them.

There are several factors that must be considered when thinking strategically: competencies and skills, products and offerings, environment and industry, markets and customers, competitors and substitutes, and suppliers and buyers.

When thinking of competencies and skills, it would be helpful to ask the following questions: What are the strengths of the company? How can these strengths be utilized to bring about unique competitive advantage? If the company has strengths, it must also have weaknesses; what are these weaknesses that can make the company vulnerable?

Next are the products and offerings. A company must have a defined set of market offerings. It is also important to analyze the gaps or overlaps in what the company offers, as well as the basis or reasons for such offerings. What makes an offering unique and what associates it to other brands or lines must also be delved upon. Strategic thinking often comes into play when a company is able to establish how these offerings fit in with the company’s image.

When thinking strategically, it is also crucial to take into account the environment and industry in which the business exists. Having a solid idea of the overall economic milieu in which the business competes, the regulatory or governmental environment and how they affect the company, the structure of the industry, where the industry is moving to and where you want your business to be, the position of the business in the industry and where you want it to be, how the industry relates with others, and the effect of all these factors in the positioning of the business plays a significant role in strategy formulation.

Then, a business must consider the markets and customers, and the competitors and substitutes available. Knowing the target customers for the offerings of the business, the needs of the customers, how the business is distinctively capable of meeting such needs, nature of competition in the industry, what other businesses have offerings that can satisfy the same needs, how these businesses are similar or different to your own, how they might respond to your strategies, possibility of other businesses that might choose to enter the market, their strengths and strategies, and the market conditions that compel them to take action would give businesses an edge in understanding the dynamics of their internal and external environments.

Lastly, suppliers and buyers must not be neglected. They are the driving forces that can help in the production or marketing of a business‘ offerings. Understanding their dynamics also helps a business foresee any potential threat they might pose.

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