Want To Be An Entrepreneur?

WANT TO BE AN ENTREPRENEUR

Some things to think about when developing an organization that will lead to success.

(1) The kinds of organizations that exist

(2) What strategy is?

(3) How this strategy relates to the three levels of structure found in many organizations.

So what do we know?  First, an organization is a legal entity that consists of people who share a common mission. This motivates them to develop offerings such as, products, services, or ideas. This creates value for both the organization and its customers by satisfying their needs and wants. Today’s organizations can be divided into business firms and nonprofit organizations.

A business firm is a privately owned organization such as Target, Nike, or Volkswagen that serves its customers to earn a profit so that it can survive.

Profit is the money left after a business firm’s total expenses are subtracted from its total revenues and is the reward for the risk it undertakes in marketing its offerings.

Whereas, a nonprofit organization is an organization that serves its customers but does not have profit as an organizational goal. Its goals may be operational efficiency or client satisfaction. Regardless, it also must receive sufficient funds above its expenses to continue operations.

Many organizations make strategic decisions that reflect the dynamics of the industry to create a compelling and sustainable advantage for their offerings relative to those of competitors to achieve a superior level of performance.

The foundation of an organization’s marketing strategy is having a clear understanding of the industry within which it competes.images

Organizations have limited human, financial, technological, and other resources available to produce and market its offerings—it can’t be all things to all people!

All organizations must develop strategies to focus and direct its efforts to accomplish its goals. However, the definition of strategy has been the subject of debate among management and marketing theorists.

For our purpose, strategy is an organization’s long-term course of action designed to deliver a unique customer experience while achieving its goals. All organizations set a strategic direction, and marketing helps to both set this direction and move the organization there.

What’s your organization’s strategy to attain a higher level of performance?

 

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