The Definition of Event Management Event management is the process by which an event is planned, prepared, and produced.
This statement expresses the organization's values and aspirations; basically its reason or purpose for existence.
Based on this mission statement the firm will formulate its business strategy. This business strategy is a long-term plan for accomplishing the mission set forth in the mission statement. Each function within the business can then derive its own strategy in support of the firm's overall business strategy financial strategy, marketing strategy, and operations strategy.
Operations strategy is the collective concrete actions chosen, mandated, or stimulated by corporate strategy.
It is, of course, implemented within the operations function. This operations strategy binds the various operations decisions and actions into a cohesive consistent response to competitive forces by linking firm policies, programs, systems, and actions into a systematic response to the competitive priorities chosen and communicated by the corporate or business strategy.
In simpler terms, the operations strategy specifies how the firm will employ its operations capabilities to support the business strategy. Operations strategy has a long-term concern for how to best determine and develop the firm's major operations resources so that there is a high degree of compatibility between these resources and the business strategy.
Very broad questions are addressed regarding how major resources should be configured in order to achieve the firm's corporate objectives.
Some of the issues of relevance include long-term decisions regarding capacity, location, processes, technology, and timing. The achievement of world-class status through operations requires that operations be integrated with the other functions at the corporate level.
In broad terms, an operation has two important roles it can play in strengthening the firm's overall strategy.
One option is to provide processes that give the firm a distinct advantage in the marketplace. Operations will provide a marketing edge through distinct, unique technology developments in processes that competitors cannot match. The second role that operations can play is to provide coordinated support for the essential ways in which the firm's products win orders over their competitors, also known as distinctive competencies.
The firm's operations strategy must be conducive to developing a set of policies in both process choice and infrastructure design controls, procedures, systems, etc. Most firms share access to the same processes and technology, so they usually differ little in these areas.
What is different is the degree to which operations matches its processes and infrastructure to its distinctive competencies. The ones that most affect a firm's competitive abilities are called key success factors KSFs.
These KSFs are actually what the firm must be competent at doing or concentrating on achieving in order to be competitively and financially successful; they could be called prerequisites for success. In order to determine their own KSFs, a firm must determine a basis for customer choice.
In other words, how do customers differentiate between competitors offering the same or similar products or services and how will the firm distinguish itself from these competitors? Once this is determined, the firm has to decide what resources and competitive capabilities it needs in order to compete successfully, and what will it take to achieve a sustainable competitive advantage.The purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are “most likely” to purchase your offering.
§ Implementation of Texas Essential Knowledge and Skills for Transportation, Distribution, and Logistics, Adopted (a) The provisions of this subchapter shall be implemented by school districts beginning with the school year.
If your business is an architectural firm or a custom software developer company, this could be a good objective to ensure you are working with your customers to design critical solutions. Improve customer satisfaction: If customer satisfaction is critical in your company, this may be .
How to Write a Great Business Plan: Overview and Objectives.
Business Plans For example, your Business Overview and Objectives section could start something like this: History and Vision. Business Plan Objectives Before you embark on crafting a marketing plan, you need a basic business plan.
This serves as the foundation of your business; the bread and butter of your success. Basic Approach to Strategic Planning.
A critical review of past performance by the owners and management of a business and the preparation of a plan beyond normal budgetary horizons require a certain attitude of mind and predisposition.