Strategic Marketing: Planning and Control, Third Edition

● Synergy: The word can be defined as ‘working together’. The com- bined effect of high importance and relatively limited change ...

that may exist relative to a given project. Piercy (1997, p. 591) sets out gen- eral categories into which staff can fall (see F ...

Arguably, political behaviour is an essential part of strategy implementa- tion. This view requires management to identify key p ...

● Price: It is a complex issue. While it is relatively easy to cost factors like training, communications vehicles and other ass ...

accepted by team members. A useful acronym is to develop SMART objectives. These add focus and relate to the task(s) required. S ...

Increasingly there is an awareness of being time focused. Business is now adopting a Time-to-Market (T-t-M) philosophy. This T-t ...

● Team building Clearly there is a need to use the skills and capacity of the team to the opti- mal level. It is important to ha ...

The key to successful implementation is the application of basic man- agement principles – leadership, systems, and resourcing a ...

This page intentionally left blank ...

CHAPTER 14 Control ...

This page intentionally left blank ...

■ Introduction The term ‘control’ has received a bad press. The phrase smacks of coercive action, limiting freedom and keeping c ...

276 Strategic Marketing: Planning and Control management to optimise the process and take a strategic view. Typical inputs inclu ...

by management action and/or altering the objectives or standards within the system. In this way, the system becomes flexible and ...

● Target setting: There are two important factors. Firstly, the target cri- teria should be objective and measurable. How this i ...

systems. Remember, no system is perfect and no control system offers 100 per cent accuracy. Often, the concern is keeping operat ...

business unit (SBU) targets. The operational level relates to project or departmental activities and encompasses financial and n ...

vehicles and long-term investments. (ii) Current assets– items that are readily convertible into cash or cash itself. Such asset ...

Return On Capital Employed (ROCE) is expressed as net profit as a per- centage of capital. It examines to what extent an investm ...

Control 283 Examples Debt to assets ratio Total liabilities Total  assets Debt to credit ratio Debtors Credito  rrs Activity r ...