Strategic plans - Essay Example

Strategic Planning is Critical Strategic Planning is Critical inserts his/her Strategic Planning is Critical Strategic planning is a road map leading to predetermined objectives of an organization. In today’s highly dynamic and challenging business environment where every brand is in the race of survival of the fittest one needs to plan its moves strategically. The term global village seems deceptive because having a generalize portfolio of products, promotions, pricing, distribution and branding strategies all around the globe is out of the game.

The gimmick to win the battle of multicultural business environment is to integrate all these tools and reflect adaptability (Eisner, 2009, p.93)An organization that aims to be cutthroat in today’s competitive market needs to seek talent and expertise from a broad array of countries and continents. This allows it to deal with consumers coming from different backgrounds, cultures, ethnicity and education. How a company deals with its operations to reach zenith necessitates integrated processes and functions.

The company can curve to socioeconomic conditions in the ways it tailors its goods and services without disturbing the cultural sensitivity of either the employees or the consumers. In many circumstances a company will have to adapt its products and marketing mix strategy to meet unchangeable local needs and wants. Global player like Mcdonald has adapted its burgers to the local needs. In India where a cow is a sacred animal they serve their burgers with chicken or fish whereas in Mexico burgers come with chilli sauce (Jones, 2009, p.87). It is arguable that standardization is better for organizations because it reduces cost; however the thriving companies are ones which think globally, but act locally.

In spite of globalization, geographic, demographic, economic and cultural characteristics of consumers vary dramatically in different countries. Thus it is critical to imply that, a business will need to adapt its product mix, communication and marketing strategy to match the disparity in product preferences, product uses, consumers’ attitudes, shopping patterns, income levels and education. Dennis and Harris manifested global branding strategy as a local plan for each served market by carefully singling the most significant differences and tailoring the products and services to suit local tastes and conditions (Beeson, 2011).

According to them having a standard approach worldwide without considering local preferences and cultural differences a company is doomed to failure (Lauterborn, 2011, p.56). Coke’s Global StrategyFood and beverage organizations can easily fall prey to impediments such as regional taste and category development issues. Traditionally, a standardized marketing campaign strategy was used by Coca Cola where it used to pull advertisements for specific markets from a common pool of adverts designed to have universal impact.

But now, Coca-Cola has opted to tweak its efforts to accommodate local culture and nuances and back away from its full standardization approach.Although the branding and positioning of Coca-Cola is consistent worldwide but its execution has its foundation in what is judged to be best for each local market. Live on the Coke Side of Life, a popular and lasting marketing and advertisement campaign, launched in 2006 included elements of local culture. Native languages are used on Coke bottles and cans for communication with consumers around the globe.

Sizes of cans and bottles are matched up to other beverage bottles or cans in that country. Coca-cola in some parts of the world taste sweeter than in others. It uses varied product line-up to capture different consumer tastes, for example, soy drinks for its Asian markets. All these moves make it evident that Coca Cola is thinking globally and acting locally (Pirraglia, 2007).ReferencesGregory Dess, G.T. (Tom) Lumpkin and Alan Eisner, 2009, Strategic Management: Creating Competitive Advantages, published by McGraw-Hill/IrwinCharles W. L. Hill and Gareth R.

Jones, 2009, Strategic Management: An Integrated Approach, published by South-Western College Pub Don E. Schultz, Stanley I. Tannenbaum and Robert F. Lauterborn, 2011, Integrated Marketing Communications: Putting It Together & Making It Work, published by McGraw-HillJohn Beeson, Borrow a Page from Talent Mindset Companies: Integrate Talent Acquisition and Development, published May’2011, retrieved from; (http://www.ere.net/2011/05/11/borrow-a-page-from-talent-mindset-companies-integrate-talent-acquisition-and-development/)William Pirraglia, Demand Media, Why Is Strategic Planning Important to a Business?

, 2007, retrieved from; (http://smallbusiness.chron.com/strategic-planning-important-business-2671.html)