Bacha log in this Module we are going to see HR and Strategy. Human Resource
Management Strategy, very, very important for all the organisations. Now HR resource
strategy of business should reflect and support the corporate strategy. An effective human
resource strategy includes the way in which the organisation plans to develop its employees
and provide them suitable opportunities and better working conditions so that their optimal
contribution is ensured. This implies select best personnel, motivating and rewarding the
employees for performance, etc. HRM, it may be defined as the linking at HR Management
with strategic goals and objectives to improve business performance and develop
organisational culture that fosters innovation and flexibility. The success of an organisation
depends on its HR. This means how they are acquired, developed, motivated and retained
in an organisation play an important role in organisation success. And that is the reason
Google is ranked number 1 company to work for.
The HR management practices of an organisation include the following, pre-selection
practices include HR planning and job analysis. Selection practices are meant to staff
various positions in an organisation. Post-selection practices is to maintain and improve the
workers job performance levels. The areas where the HR Manager can play a strategic role
are as follows: Providing direction, the HRM must be able to lead people and the
organisation towards the desired direction involving people right from the beginning.
Creating Competitive atmosphere, the organisation can gain a competitive advantage
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Research and Development in this particular Module. These people or this personnel can
play an integral part in strategy implementation. These individuals are generally charged
with developing new products and improving old products. Companies in virtually every
industry are relying on thedevelopment of new products and services to fuel profitability
and growth. Surveys suggest that the most successful organisation use R & D strategy that
ties external opportunities to internal strengths. You will be shocked to hear Volkswagen
has spent 12 billion dollars in a year, right, on R &D. 12 billion Dollars in a year.
R & D policies can enhance strategic implementation efforts to emphasize product
improvements, stress basic or applied research, be leaders or followers in R & D, spend a
high, average or low amount on R & D. So even Samsung people spend a good amount of
money on Research and Development. The decisions on whether to acquire R & D expertise
internally depends on the following, technical progress slow plus market growth moderate
equals to in house R & D. Technical …..
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Bacha log, Let’s see Logistics Strategy now. Management of Logistics is a process which
integrates the flow of supplies into, through and out of an organisation to achieve a level of
service which ensures that the right materials are available at the right place, at the right
time, at the right quality and at the right cost. So everything right. Organisations try to
keep the cost of transporting materials as low as possible. SCM that is Supply Chain
Management helps in logistics and enables a company to have constant contract with its
distribution team like trucks, train, etc. Development and use of a formal logistics strategy
is very important given the changes that affect logistics operations. For a business
organisation effective logistics strategy will involve raising and finding solutions to the
following questions:
Which sources of raw materials are available?
How many manufacturing locations are there?
What products are made at each manufacturing locations?
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Bacha Log, let’s see now, in this Module, Production Strategy. The strategy for production
are related to the production system, operational planning and even control and research
and development (R & D). The strategy adopted affects the natures of product/service, the
markets to be served and the manner in which the markets are to be served. The
Production System, number 1, is concerned with the capacity, location, layout, product or
service design, work systems, extent of vertical integration and such factors. Strategies
related to production system are important as they deal with vital issues affecting the
capability of the organisation to achieve its objectives. Strategy implementation would have
to take into account the production system factors as they involve decisions which are long
term in nature and influence not only the operations capability but also achieve objectives.
Operations Planning and Control, strategies related to operations planning and controls are
concerned with aggregate production plan, materials supply, inventory cost and quality
management and maintenance of plant and machine.
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Let’s see in this Module, Financial Strategies. Now an organisation are related to several
finance and accounting concepts considered to be central to strategy implementation.
These finance ccounting concepts are, acquiring capital, right, developing projected
financial statements, management or usage of funds, and finally evaluating the worth of a
business.
Let’s check number one. Acquiring Capital or Sources of Funds, meaning, what number of
sources or what number or shares, how many shares, different types of shares, different
types of debentures, what should be the amount, what should be the number, what should
be the loan, what should be the deposit all that decision has been taken. So successful
strategy implementation often requires additional capital. Two basic sources of capital for
an organisation are debt and equity. Theoretically an enterprise should have enough debt
in its capital structure to boost its return on investment by applying debt to products and
projects earning more than the cost of debt. Strategies related to sources of funds are
important since they determine how the financial resources will be made available for the
implementation of strategies. Organisations have a range of alternatives regarding the
sources of funds. While one organisation may rely on external borrowings, another may
follow internal financing so it differs from organisation to organisation.
Next, Projected Financial Statements or Budgets. Now statement analysis allows an
organisation to examine the expected results of various actions and approaches, right, what
would be the expected result. A projected Income statement and …
To start with Social Marketing, now it aims to increase the acceptability of a social idea,
cause or practice among a target group. Example is campaign for prohibition of smoking,
right. Second example would be P&G, the collect or they donate, right, for every product
that we buy out of which 2 or 3 rupees is donated towards Girl Child Siksha Abhiyan. Isn’t it
good, yes? Next we see is Augmented Marketing, now in here it is the provision of
additional customer services and benefit built around the core and the actual products that
relate to the introduction of hi-tech services like, online computer services, etc. Herein
example could be Asian Paints, they give five years warranty on certain paints. Direct
Marketing, is a marketing strategy that interacts directly with the consumers asking them to make a direct response. Example through catalogues selling, mail, electronic marketing,
Television shopping, etc. Relationship Marketing, it is a process of creating, maintaining and
enhancing strong value laden relationships with customers and other stakeholders. It will
go a long way in building relationships. Example, Emirates, right, when you fly by Emirates
they send a Mercedes, per passenger at your residence, so if it is a family of four, you can
even ask for four Mercedes and they provide. And they pick you up from you door, from
your home till airport. And again from your destination airport to the hotel. A Mercedes
service is provided. Same, British Airways, offers special lounges with showers at 199
airports for frequent fliers. Isn’t it amazing, yes. Next, Services Marketing, It is applying the
concepts, tools and techniques of marketing to services. Services is any activity that one
party can offer to another that is essentially intangible. Like, Banking, Retailing, Insurance,
etc. These days all the banks also send their representative to our home. Person
Marketing, now people are also marketed…
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Bacha log, in this Module we are going to see different, different Marketing Strategic
Techniques. To start with Social Marketing, now it aims to increase the acceptability of a
social idea, cause or practice among a target group. Example is campaign for prohibition of
smoking, right. Second example would be P&G, they collect or they donate, right, for every
product that we buy out of which 2 or 3 rupees is donated towards Girl Child Shiksha
Abhiyan. Isn’t it good, yes?
Next we see is Augmented Marketing, now in here it is the provision of additional customer
services and benefit built around the core and the actual products that relate to the
introduction of hi-tech services like, online computer services, etc. Herein example could be
Asian Paints, they give five years warranty on certain paints.
Direct Marketing, is a marketing strategy that interacts directly with the consumers asking
them to make a direct response. Example through catalogues selling, mail, electronic
marketing, Television shopping, etc.
Relationship Marketing, it is a process of creating, maintaining and enhancing strong value
laden relationships with customers and other stakeholders. It will go a long way in building
relationships. Example, Emirates, right, when you fly by Emirates they send a Mercedes,
right, per passenger at your residence, so if it is a family of four, you can even ask for four
Mercedes and they provide. And they pick you up from your door, that is your home till
airport. And again from your destination airport to the hotel a Mercedes service is
provided. Same, British Airways, offers special lounges with showers at 199 airports for
frequent fliers. Isn’t it amazing, yes.
Next, Services Marketing, It is applying the concepts, tools and techniques of marketing to
services. Services is any activity that one party can offer to another that is essentially
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In this Module we are going to see Planning for Marketing, or you can call it as Marketing
Planning. Now, marketing planning involves deciding on the marketing strategies that will
help the company attain its overall strategic objectives. A detailed plan is needed for each
business, product or brand.
Now let us take here the example of Coke, Coke when they entered India after LPG in 1991,
now when they stepped in India they gave a very big advertisement on the front page, the
entire page of Times, right, was covered by the huge bottle of Coke. And they had
mentioned very clearly, bring the cut-out and you will get a Coke bottle free, right, isn’t it
interesting. Yes. Similarly, when Pepsi entered India with Mirinda, they gave an
advertisement in the newspaper again that please come up with an orange and get a bottle
of Miranda free, right. So for each and every brand, each and every business you need to
have a separate, okay, a different marketing plan.
The broad plan may contain the following sections, let’s see one by one. Executive
Summary, it is a short summary of the main goals and recommendations to be presented in
the plan. Current Marketing Situation, It is that section of a marketing plan that describes
the target.
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