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Strategic Management
Strategic Management
You are a business person who has access to capital and want to build a global
advertising empire. Create a strategic plan to build your business, do you think that
acquisitions could be a strategic option? Justify your answer.
Every good job starts with determination and a desire to improve. While having a
creative vision, abstract ideas, and letting your imagination run free is a good starting
point, it's also important for your ideas in literature and research. This is where the real
work comes into play. Likewise, a marketing strategy pushes you to learn important
details like who your target audience is. As you plan your strategy, you can make sure
you don't miss important opportunities to change leads.
In the end, you will enjoy the benefits of a good job, not a random job. If you want to get
the most out of your good idea, create a business idea.
A good business strategy in a competitive environment consists of a combination of -
1. Appropriate assessment of competition - To create the right strategy, it is
necessary to evaluate the competition and the foreign market.
2. Competitive Advantage - The company must have a competitive advantage and
create a strategy to solve this advantage.
3. Combination of Price and Differentiation - To create a stand-alone product in a
competitive market, the company must use the right combination of both price
and differentiation strategies.
4. Provide Value - It is not enough to offer the best price or different ideas, because
it is important for the company to give the customer the right price.
5. Effective Participation: In all business decisions, top management should be
included and followed.
6. Focus: All the best companies focus on their customers, their needs, and their
preferences, rather than focusing on the money and why they are successful.
Good marketing should be customer focused.
Strategic plan for starting a business to do business.
In the information provided, the idea and vision to create a global advertising empire is
so clear that more planning is required.
Competitor Analysis: When you start a business, you need to know your competitors
and develop your business strategy accordingly. It can be used in annual shareholder
reports, analyst interviews, executive reports, press releases, etc. You should check
their current strategies. Knowing your target audience can help you predict how your
audience will respond to different challenges. Candidates' goals may be financial or
otherwise.
Some examples include growth rates, market share and technology leadership. The
views that competitor leaders hold about their companies and their markets help
determine how they will react. Understanding the candidate's perspective, goals, and
current strategy helps to understand how the candidate will respond to the challenge.
However, their resources and capabilities determine their ability to respond effectively.
Marketing Strategy: After reviewing all the above points, you should move on to the
marketing strategy. These strategies that can help you stay competitive and get some
business will be carefully considered. A company must understand all available
resources and their capabilities and plan accordingly to increase demand. A company
needs a strategy that shows how it will achieve its goals and maintain the company's
mission. Strategy is about how to achieve performance goals, how to outperform
competitors, how to gain competitive advantage, how to strengthen the long-term
business of the business and how to make the management strategy approved for the
company a reality.
Initiate the business activities: After planning everything down to the last detail and
generating ideas, it's time to implement them and start work. Many other needs are
important when a business starts, such as setting goals, visions, and goals. It is also
important to have good people who can be good and do a good job. In addition,
financial management is necessary to ensure that all necessary decisions can be made
in a timely manner.
Benefits of Acquisitions
In my opinion, acquisitions can be helpful in some ways because they can enable the
company to grow faster, which helps it beat the competition faster. Buying a company
can be a very profitable business, which can facilitate the rapid growth of the acquired
company.
However, as with any other business strategy, business needs to be carefully planned
and executed carefully. Entering a new market can be a daunting task for most
businesses. You will face new competition, but there is little or no evidence on the
market and the ability to engage with new audiences in different countries. Not to
mention the new legal, cultural and financial issues. Therefore, starting a new business
is a very popular reason to acquire a business.
It can reduce the time and money you have to spend competing with reputable
companies in your target market. By getting the right marketing, you will be able to gain
a foothold in your new brand.
2. The Indian Super League is India's leading soccer league but is struggling with
viewership? What could be the reasons for this lack of consumer interest? What
strategies would you recommend to the league management if you were its strategy
consultant?
Answer: Strategic decisions are more about external issues than internal business
issues, especially product selection (the total number of products offered by the
organization). Strategic decisions are different from operational decisions regarding
day-to-day operations or current operations. Examples of these tasks are overseeing
budget allocation, operations and usage management, production planning and
scheduling, and inventory control and management.
India, Hockey, Cricket, Kabaddi, Football etc. It is a big country where many sports are
practiced. While hockey is our national sport, Indians love to watch and play cricket.
All human movements have limited visibility, while other movements are perceived far
beyond the reach of humans. One such incident is given in this question where I was
told that football is not a popular sport in India and as a consultant I have to suggest
ideas to the management team to improve the situation. When we need to start a
business for a product or service, we need to have a detailed and stable business plan
and then proceed according to the plan.
ISL
Social Media Marketing Strategies: With more and more people joining social media
tools such as Facebook and Twitter, social media on the internet has become an
important part of marketing. The popularity of dating sites has grown significantly in
recent years, attracting millions of visitors who log in for hours and multiple times each
day.
This makes these sites important for e-commerce, especially given that many
consumers use technology to get the latest news about products and services.
Supported by social media such as Facebook, Twitter and Instagram, the Indian
Premier League needs to be promoted on social media. with the help of sports, teams,
game rules, locations, team support etc. Some talks and Contests that may be related
to Answering these questions will generate interest in the competition, with the winner
receiving a free ticket to the competition.
Tournaments: Indian Premier League can also organize some tournaments and hold
attractive prizes which will motivate and inspire people to play in these tournaments and
also help spread awareness about the ISL tournament.
Celebrity support: For any sporting event to be popular, the support of famous people
helps a lot to support the team. Many players can be hired to promote the event and
they can do so on different platforms.People are attracted to certain people who are
influential and successful, and when they support something, they listen to them and
often try out plans they support.
Making Football Popular in India: Football as a product has great potential in India
and should be addressed accordingly. There are Bhaichung Bhutia, Sunil Chetri,
Gurpreet Singh Sandhu and some Indian players who believe in the game and make it
their career choice. Football should be made a product or best sport and Football
Federation of India should create a marketing strategy to increase the interest in the
sport.
Organizations should plan to use digital campaigns to promote football and post them
on various websites. In addition, it is possible to create a television advertisement in
which all the celebrities support the sport. The Football Association should secure the
support of most of India to promote football. There should be a sufficient number of
training courses and legal parks.
3. Inox and PVR recently merged together to create India's largest theatre groups, the
combined entity now has 1500 theatres across the country. This is 20% of the current
market size and nearly 50% of the revenue.
a. If you were an owner of a single screen theatre in a city where Inox PVR have
multiple screens what strategies would you adopt to compete.
b. Analyze the state of India's movie theatre industry and what the industry needs to do
to evolve going forward in this highly competitive technology driven media and
entertainment industry.
Answer: a) Strategy is about comparing the company's resources and capabilities with
opportunities in the external environment. So far, the focus of this book has been to
identify benefits in the company's external environment. In this chapter, our focus shifts
from the interaction between strategy and the external environment to the interaction
between strategy and the firm's internal environment, particularly the company's
resources and resources.
Ideas to Watch Advertising: We need to show the ideas that a movie screen must
take in order to survive in the market. In this case, they face very strong competition
from all multiplexes; a screen owner needs good support to stay competitive and
relevant. They should promote videos, sites, social media and other digital media for
people to know and visit.
In this competitive world, promotion is an important solution to compete and get people
to know you. If the promotion is different and effective, people should go to a theater
screen to enjoy it.
Discounts and Deals: When a cinema is in trouble, a good way to get people's
attention is to offer special promotions or deals. You can post and publish these ads on
social media platforms and email campaigns. A company may offer Tharun movie
tickets at discounted prices with some benefits.
If you don't have a lot of money, these ideas will get you customers and support.
Showing videos in different languages: One of the ideas is to show some events,
shows and programs in addition to the videos so you can attract some people visiting
your show. When the movie offers many events, videos and movies in different
languages, I'm sure many people will know and come to watch it.
As you can see, the road ahead is not at all smooth and real movie theater owners have
to work hard if they want to survive in a tough business environment.