Analyse connections between your organisation’s strategy (or an organisation with which you are familiar) and its products or services, and customers. (ac 1.2)
- July 26, 2024
- Posted by: Assignment Help Gurus
- Category: CIPD Level 5
Analyse connections between your organisation’s strategy (or an organisation with which you are familiar) and its products or services, and customers. (5co01 ac 1.2)
An organisational strategy is a way of matching a company’s service or product to the needs of its customers. It is the plan that directs the deployment of resources in various business activities towards attaining the goals and objectives of the organisation in the long run. The relationship involved in linking organisational strategy to products or services and customers can be examined through three fundamental areas: strategy analysis, strategy development, and strategy implementation.
Strategy Analysis
The first step in connecting organisational strategy with products/services and customers is to conduct a deep analysis of the company’s situation. It includes analyzing the market environment, customer preferences and pain points, as well as the SWOT of the business, that is, its strengths, weaknesses, opportunities, and threats. An example would be Apple, a company that conducts market research to understand the changes in the target audience’s needs, thus creating innovation in new products like the iPhone and iPad.
Strategy Development
Based on the results of the strategy analysis, the company can develop an organisational strategy that леч aligns with the mission, vision, and long-term goals for it. It would define how to improve its competition in the market through such strategies as differentiation, cost leadership, or focus strategies. This is a strategy developed by Apple whereby premium-priced but user-friendly devices have so far enabled them to create brand identity among customers.
Strategy Implementation
The last stage is the implementation of organisational strategy, which involves translating it into corporate, business, and functional levels by setting out particular objectives, measuring them, and assigning responsibilities to different departments and individuals. Apple’s strategy implementation is felt whenever there is tight integration between hardware and software in a bid to ensure seamless use along its product ecosystem.
Product Development and Customer Engagement
In using organisational strategy, there is a great link between the strategy used and product development. Product differentiation, cost leadership, and innovation strategies point companies toward unique product offerings of their brand in the market. An innovative company, for example, has to hold research and development at the forefront in order to give very advanced products to highly technical customers. Conversely, a cost-leadership strategy may lead to the development of budget-friendly options that appeal to price-sensitive customers. Furthermore, effective organisational strategies enhance customer engagement by aligning marketing efforts with customer values and expectations. This includes creating targeted marketing campaigns that resonate with the audience and utilizing customer feedback to refine products and services. If organisations keep the dialogue with customers, they can incessantly nurture their strategies to suit the changing preferences of the latter in order to retain relationships and ultimately boost sales.
Long-term Implications
A very important foundation of organisational long-term success is based on maintaining a strong link between strategy, products, and customers. With continued changes in strategy depending on market trends and customer feedback, an organisation is well positioned to capture greater level shares in competitive environments. Not only will this adaptability help capture greater market share but also ensure a more permanent base that values the commitment of the brand towards satisfying their needs.
The balance among organisational strategy, product development, and customer engagement is the determinant of success in business. When these are on a strong footing, an organisation would be capable of truly bonding with customers for brand loyalty and customer satisfaction— attributes that ultimately breed sustainable growth.
You can get your cipy of 5co01 Assignment by speaking to our support team at Cipd Level 5 Assignment Help.
[vc_row full_width=”” parallax=”” parallax_image=””][vc_column width=”1/1″][vc_widget_sidebar sidebar_id=”default”][/vc_column][/vc_row]