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Business Strategy Article 1: Brand awareness for excellent Business strategy Plan

Business Strategy planning

Business Strategy and Strategic Planning Consultancy provided by Magnus management consulting LLC

Strategic planning translates top management goals, vision, and mission into a clear implementable plan, KPIs and directions.

Strategic Planning benefits:

  1. Defining and clarifying goals and organizational purpose.
    2. Allows organizations to be proactive rather than reactive.
    3. Sets up a sense of direction.
    4. Increases operational efficiency.
    5. Business durability.
    6. Improve outcomes for their business.
    7. Avoid taking on unexpected risks due to lack of foresight and futuristic approach.

Strategic planning services Provided by Magnus include:

  • Providing Business Strategy and strategic planning consultation consultations
  • Evaluating current strategies and developing the overall strategic plans
  • Preparing new strategies and reorientation strategies
  • Strategic planning for Government firms, enterprises and departments
  • Developing the executive and operational plan.
  • Preparing and evaluating the readiness of enterprises for resource planning and management systems
  • Developing the administrative structure in line with the strategic plans

Business Strategy and Strategic Planning Consultancy provided by Magnus management consulting LLC

Brand awareness is one of the essential strategical steps in making any business succeed.

Outside-in and inside-out are methods that organizations may follow aside from many others to build their strategies to develop or generates their products or services.

1   What is the Outside-in Business strategy and Strategic Planning?

The market-influenced Business strategy and Strategic Planning centers on external outside firm resources such as suppliers and competitors in developing successful innovations (Authenex-Gima, 1996; Frambach, Prabhu, & Verhallen, 2003; Paladino, 2007); questioning what the market are needs to develop its own products and services.

2     What is the inside-out Business strategy and Strategic Planning?

The internally influenced Business strategy and Strategic Planning centers that starts within the firm and reflects outward focuses on firm-specific internal resources and capabilities in developing successful innovations (Barney, 1991; Day, 2011; Miller, Eizenstat, & Foote, 2002); studying its internal qualifications and abilities to develop its products and services.

3         Inside-out Vs. Outside-in:

3.1        Innovation:

Henard & Szymanski, 2001 found the outside-in approach to be more practical in serving innovation and solving the market needs.

3.2        Organization performance

Both inside-out and outside-in show an ability to produce more and perform well. However (Paladino, 2007). Day (2011) found that the inside-out narrows the creativity.

3.3        Customer satisfaction

Paladino, 2009 argues the negative side of both approaches to satisfy customers; Outside-in orientated firms may introduce products and services that are unprepared to serve, while inside-out firms may miss customers’ needs that require new capabilities.

4         Conclusion

Both Outside-in and inside-out have advantages and disadvantages, which can be used in different situations. Outside-in shows a high ability to solve the market needs and serve innovation. Therefore, it may be better than the inside-out; if the outside-in orientation is used, awareness of the internal capability is needed to maximize its benefits.

How do you think culture affect organizations to follow outside-in or inside-out?

Know more at: https://www.mmcc.qa/service/strategic-planning-consultancy/

5         References:

  1. Frau M.,2, Moi L. and Cabido F., (2020) Outside-in, Inside-out, and Blended Marketing Strategy Approach: A Longitudinal Case Study. Canadian Center of Science and Education. Available at: https://doi.org/10.5539/ijms.v12n3p1 [Accessed 24th June 2022]
  2. Popoli P. (2011) Linking CSR strategy and brand image: Different approaches in local and global markets. Available at: https://0-journals-sagepub-com.serlib0.essex.ac.uk/doi/pdf/10.1177/1470593111418795[Accessed 24th June 2022]
  3. Saeed S., Yousafzai S., Paladino A., and De Luca L. (2015) Inside-out and outside-in orientations: A meta-analysis of orientation’s effects on innovation and firm performance, Industrial Marketing Management. Available at: http://dx.doi.org/10.1016/j.indmarman.2015.02.037[Accessed 24th June 2022]

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