Service Marketing concept strategic management

What is Service Marketing:

“Strategy is a unified, comprehensive, integrated plan of action that relates to the strategic advantages of the firm by challenging it’s environment”. 

                    It is designed to ensure that the basic objectives &goals of organization (or) of an enterprise achieved through proper execution by the organization.

                   Alfred D.Chandler defines “Strategy as Determining the long term organizational goals and objectives of an enterprise & adoption of courses of an action and then allocating resources necessary for carrying out them”

Strategic management:

“Deciding on strategy, planning how that strategy put into effect”

                   “Without a strategy an organization is like a ship without redder going around a circle .Its like tramp. It has no place to go.”

                     Strategy is defined Sharpen as “A plan or course of action which is continuing importance to the organization as a whole”

●      Analysis of definitions of strategy:-

●      Strategy is a central understanding of the strategic management process.

●      Strategy is the determination of basic long term goals &objectives of an organization.

●      Set a clear direction.

●      Allocating the necessary resources for implementing the course of action.

●      Determining the courses of action to attain the pre-determined goals and objectives.

●      Enterprise knows its strengths and weakness compared with those of its competitors.

●      Identify factors in the political & social environment that requires care full monitoring.

●      Need for strategy :-

Strategy is necessary in view of the following reasons.

●      To take high quality project decisions

●      To have and develop internal ability to anticipate change.

●      To save time, money & executive talent.

●      To identify, develop and exploit potential opportunities.