Analyse connections between organisational strategy, products, services and customers. (AC 1.2)
Organisational strategy acts as a long-term road map, defining its goals and aspirations as well as the steps necessary to reach them. It offers a roadmap for decision-making and resource allocation, giving businesses a compass to keep an eye on objectives and competitiveness in the market (Alzoubi et al., 2022). Strategic analysis, the first step in developing a strategy, entails examining the current state of the organisation. Organisations use instruments such as SWOT analysis to determine their opportunities, threats, weaknesses, and strengths. This stage enables reflection on areas in need of improvement and preparedness for implementing a new approach (Alzoubi et al., 2022).
An extensive evaluation of the organization’s goals, available resources, and competitive environment is necessary before developing a strategy. Making thoughtful decisions about the company’s course and creating the required action steps are essential at this point. The strategy must then be put into action, which entails a series of steps such as setting up performance measurement systems, communicating with stakeholders, providing the required resources, and putting the plan into action (Alzoubi et al., 2022). Strong leadership, clear communication, and an open-minded culture are necessary for successful adoption.
The organisational plan is reflected in both the products and services. Strategic choices have a big impact on the markets that are served, the products that are offered, and the level of market competition. A solid strategy can boost market share, encourage the development of new products, and raise customer satisfaction (Alzoubi et al., 2022). On the other hand, inadequate execution can result in a decrease in sales, a loss of market share, and a decline in customer loyalty.
It is critical that an organization’s strategy and service offerings align. Target markets, competitive strategies in relation to other businesses, and the range of services provided are all shaped by strategy (Alzoubi et al., 2022). A well-thought-out plan can boost revenue, fortify client loyalty, and improve customer satisfaction. On the other hand, a poor plan could lead to a decline in market share, a drop in sales, and unhappy clients.
Satisfying customer needs and organisational strategy go hand in hand and are essential for business success. A company’s strategic plan impacts its position in the market, interactions with customers, and portfolio of products and services (Alzoubi et al., 2022). A well-designed plan that puts the needs of the consumer first can boost sales, loyalty, and customer satisfaction. On the other hand, a badly carried out plan that disregards customer needs may lead to a decline in market share, income, and customer satisfaction.
