Marketing management Strategies

Question: Give three examples of key performance measures that are forward looking and more predictive. What aspect of the value chain are they measuring? How do these measures tie to specific strategies in your business unit? Does the business culture enable or block its business strategy and/or does it have an effect on financial performance in the value chain? Provide a rationale in support of your answer. What are cultural norms that govern the organization, and what types of behaviors does the culture promote or punish? Answer: Three Examples of Key Performance Measures that is forward-looking and predictive Profit One of the traditional financial performance measures adopted by an organization is checking on the profit margin. It requires continuous monitoring of profits for spotting the risky projects as well as project portfolios for the same. It is necessary for ascertaining the determination of profitability for continuous cash flow within an organization. Revenues Organization aims at revenue generation from the projects that are progressive in nature. It mainly compares prior years and depends upon the small number of projects based upon the financial metrics in an overall manner (Dahlstrom, 2011). This particular financial measure helps in determining in the success or failures for acquiring the necessary projects. It mainly monitors the revenue for maintaining relationship with other organization. Costs Organizations aim at cost minimization that mainly helps in monitoring of costs and critical focus in an overall manner. Continuous supply of raw materials as well as labor will help in determination of slim margins for quick disappearance of abstracting losses in the near future. Aspects of value chain It is necessary to consider the designing performance measurement system. It helps in transforming from measured performance into complex systems for the desired production units in an organization. It mainly describes production process system for several distinct stages in value chain management in the most appropriate form. Value chain helps in measuring the compliance audit functions for production of desired outputs for overall social outcomes in the near future (Ferrell Hartline, 2011). It mainly concentrates on managing performance measurement for related process as well as procedures for the same. It handles and monitors outputs as well as workload measures for determining the overall productivity of business enterprise. Specific strategies for business unit Business Organization should conduct specified strategies for attainment of future goals as well as objectives for the same. It is advisable to set SMART goals for particular organization. It mainly includes attributes: S stands for specific This implies using the key performance indicators for meeting the selected business strategies in an organization. It should be specific and concrete in nature (Kotabe Helsen, 2011). M stands for measurable This reveals that KPI should be measurable in terms of money. It includes calculation of ration analysis as well as related financial statements for the same. A stands for achievable This mainly focuses on set ambitious targets that will help in motivating as well as inspiring employees. R stands for realistic This mainly reveals the realistic targets achievable in the upcoming years. T stands for time-bound It implies progress and clear sense of deadlines for the specified business organization. Business culture enables business strategy for positive effect on financial performance in value chain Business culture mainly underlies the assumptions on the strategic management issues in relation with value chain analysis for the same. It focuses on the goals and clear objectives for development of shareholder expectations for evaluating related options in an overall manner (Sheehan, 2011). Business culture includes promoting diversity in and around an organization. It varies with changed environment especially for the resource managers in the most appropriate form. Cultural Norms governing organization and types of behaviors for promotion of culture It is important to consider the fact that culture norms plays important role for checking the behavior pattern of employees working in an organization (Winer Dhar, 2011). It includes rules and regulations for reflection on the stakeholder expectations. It mainly evaluates various options for the purpose of communicating the strategic goals in an overall manner. Reference List Dahlstrom, R. (2011).Green marketing management. Mason, Ohio: South-Western / Cengage Learning. Ferrell, O., Hartline, M. (2011).Marketing management strategies. Australia: South-Western, Cengage Learning. Kotabe, M., Helsen, K. (2011).Global marketing management. Hoboken, N.J.: Wiley. Sheehan, B. (2011).Marketing management. Lausanne, Switzerland: AVA Pub. Winer, R., Dhar, R. (2011).Marketing management. Boston: Prentice Hall.