Today, marketing channel decisions are as important as the decisions companies make about the features and prices of products. Selecting the best marketing channel is critical because it can mean the success or failure of your product. Consumers have become more demanding. They are used to getting what they want. If you can’t get your product to them when, where, and how they want it, they will simply buy a competing product. In other words, how companies sell has become as important as what they sell. One of the reasons the internet has been so successful as a marketing channel is because customers get to make some of the channel decisions themselves.
down and change the procedures, to increase upper hand. Long term activity which has a tendency to decide the company system and used to set needs. It is not action oriented but theoretical.
Strategic management and planning helps this company where I work, PayPal Holding Inc., to envisage a large picture objectives and overall dreams. It gives a general time span, a timetable and an arrangement for progressing development. It also helps in team building, because it is a vital apparatus for uniting the group and spurring us to work together and it helps us to gauge our progress.
1.3 Evaluate the classic and contemporary models used in developing business strategies and plans.
As discussed previously, strategic management and planning is more or less the foundation of a company performance and progress. In developing strategies and plans, we must put to consideration the long term goals, dissecting the most vital issues that the plans needs to address. It involves us prioritizing, organizing and analysing feedback after implementation.
There are plethora of classic and contemporary models that are efficient, but every company must choose the model that suits them. For example; in the case of PayPal Holding Inc., these were the models followed in developing our business strategies and plans.
Models used in developing business strategies and plans
Figure 1
- Basic strategic planning model: We identified our purpose, approaches and action plan
- Issue based strategic planning model: This model involved execution, establishing budget, and carrying out a ‘SWOT Analysis’ (strength, weakness, opportunity, threat)
- Alignment strategic model: Here we adjusted our company’s mission and resources so that they can align
- Scenario strategic planning model: At this stage we outlined some events that could occur and affect the company positively or negatively and how we will respond when these event becomes a reality
- Organic strategic planning model: This was the final model and we clarified our goals, values and culture and reflected on actions to achieve our vision. This model is continuous and always updated
Task 2
2.1 Analyse ways in which the internal and external environment can influence organizational management and planning strategies
We have earlier been able to successfully discuss strategic management and planning and the different models involved in developing it, we must also know that there are different environmental factors that influence it, these factors can be internal or external.
In the case of PayPal Holding Inc. some of the internal and external facto
