Case Study : Mckinsey 's Model

This first strategy calls for the creation of more sales without changing the original product, which can achieved through the four P’s of marketing. The next strategy, market development, allows the supplier to find new markets for their current products by using demographic markets to see where the greatest revenue will be based on the target group you are selling to (seniors, teens, etc.). Product development is the next strategy which focuses on new products the modification of current products. This strategy is rather important as without evolving products to meet the ever changing needs of current and potential companies can see a loss in sales and would limit their ability to be competitive in the market. The final strategy is diversification. This strategy calls for companies to attain current or new businesses allowing them to “diversify” their offerings and break into new markets.

Strategy is a set of complicated tactics formulated by the executives of a company directed towards the achievement of company’s goal (Salmela, 2002). It is about all the path ways that a company would follow to reach its ultimate goal. It is a company’s strategy which helps to identify what it does better than the other companies in the industries, which may be different from what it does best. For successful strategy formulation and implementation, a company should know the needs of customers and should have knowledge of its competitors. Through a good strategy a company would identify that opportunity which makes it different from the others (Thompson, 2005).

What is marketing strategy? The process of matching the organisation’s strengths to the customer needs, with the aim of achieving a competitive advantage in the market. The combination of product, price, distribution and promotion most suited to a particular group of consumers. • Goal: the create a sustainable competitive advantage in the market • All the elements of the marketing strategy that lead to the development of the competitive advantage require good understanding of consumer behaviour Marketing strategy process: • 1. Segment: understand consumers a. Determine the dimensions (age, geography, subculture) b. Determine the heterogeneity c. Define the needs & goals 2. Target: choose consumers a. Evaluate each segment in

The values of the organization express its culture and act as guiding tenets for influencing thoughts and behaviors. Values define the character of the team. In crafting a values statement for my organization, I must consider the following: loyalty, duty, respect, selfless-service, honor, integrity, personal courage ethical behavior, relationships, success, and

Staffing has always been considered as the foundation for organizations' growth, development, survival, and competitive advantage. A successful staffing process may require effective advance preparation and planning in order to address support services required to advance organizational goals and workforce planning. Having read through the company's (Tanglewood) overview and job descriptions for the various positions, I think this topic offers an opportunity to explore some of the theoretical aspects of staffing organizations model in recommending some effective and efficient ways of employing the best personnel to fulfill the company's goals. The staffing plan or model to be used for this company is intended to monitor and control human capital

In reviewing Tanglewood case study 1, we evaluate all aspects of the company in order to determine which strategic staffing decision would potentially be suitable for meeting the organizations goals and staffing requirements. They’re 13 different staffing strategies which are distributed into two categories. Each one of the strategies is designed in a format of this one verses that one concept, making it so one would decide which would be best suited for the company. The two strategic staffing decision categories are staffing levels and the other is staffing quality. Staffing levels consist of : Acquire or develop talent, Hire yourself or outsource, external or internal hiring, core or flexible workforce, hire or

Gain Team Member & Customer Commitment: When an organization and its team members unite around a shared set of values, they become more flexible, less hierarchical, less bureaucratic, and they develop an enhanced capacity for collective action. When employees not only share similar values – but also a similar vision – the performance of a company is enhanced. Shared values build trust. Trust is the foundation on which relationships are established, both with team members and customers alike. Values-based leadership is a way of making authentic decisions that build the trust and commitment of employees and customers.

effective staff. Therefore, the continuing rise of college tuition than salary can lead to hiring

The Style theory focuses on what the leaders do to keep good relationships in the work environment. The positive behaviors that the leader present at the time of building relationships with others, will allow them to peruse effective relationships. At the same time, the style theory states that people have their own way of learning and it is better achieve in different ways.

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

A strategy is a tool that intended to help the firm to achieve and sustain its competitive advantage and the right integration of business concepts. Sound and efficient strategy is the one that consists of clearly expressed long term and short term goals and objectives and at the same time help to achieve competitive advantage and to reinforce strong visions, meeting the goals/objective throughout the mission. It also ensures that all the company’s elements relevantly aligned. McKinsey & Company has a mission statement that focuses on ensuring it helps their clients make positive, long lasting and substantial improvements in their performance and as result build a firm that will be able to attract, develop, excite and most over retain exceptional people. In this paper, we are going to look at the McKinsey & Company evolving history, its current operation, SWOT analysis, future opportunities, major strategic issues and personal recommendations.

With the acquiring of quality employees comes the assessment and development of Human Resources. Having the right people for the job is just selecting the right people to

Firm members must be professionals trained and motivated to do outstanding work and make a permanent career with the firm.

A company 's values are the beliefs, traits, and behavioral norms that company personnel are expected to display in conducting the company 's business and pursuing its strategic vision and strategy.

The marketing strategy should be tailored around the firm's target market; if this were not the case marketing would be then less successful. Each aspect of the marketing mix would need to be formulated with the target market (consumer) in mind. For example the design of the product would need to be such that it would satisfy the consumer's needs. If it did not consumers would see no need to have it and buy a competitor's product. The price of