Im back with some new knowledge about marketing for all you interested readers!
There are different types of organizational structures for businesses along with strategies in which I am going to talk about here.
Lets start off with the basic deffiniton of an organization: a legal entity that consists of people who share a common mission (can be divided into business firms and nonprofit organizations).
There are two different categories of organizations, business firms and non-profit organizations.
The difference between these two is that a business firm is a privately owned organization such as target and Nike so that serves its customers to earn a profit so it can survive and a non-profit organization is a nongovernmental organization that serves its customers but does not have a profit as an organizational goal. Its goal is may be operational efficiency or client satisfaction (but it must receive sufficient funds above its expenses to continue operation.
Organizations have limited resources such as human, financial, and technological resources, and this is where strategy comes in play. Strategy is an organizations long term course of action designed to deliver a unique customer experience while achieving its goal.
There are three structural organizations:
Corporate Level: Where top management directs overall strategy from the entire organization.
Strategic Business Unit: Subsidiary division or unit of organization that markets a set of related offerings to a clearly defined group of customers. Functional Level: Each strategic business unit has a functional level where groups of specialists actually create value for the organization
Every business needs to have goals or objectives because without those they have no core to follow.
Goals are statements of
an accomplishment of a task to be achieved often by a specific time. Types of goals are profit, sales, market share (the
ratio of sales revue of a firm to total sales revenue of all related firms)
quality, customer satisfaction, employee welfare, social responsibility.
There you have it, a basic background of developing successful marketing and organizational strategies. I hope you all enjoyed gaining some useful knowledge!
Until next time,
Natalia!
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