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Examples Of Strategic Alignment

Good Essays
In order to succeed in today 's marketplace, whatever the key business purpose or strategy your company emphasizes must be reflected in the workplace practices. This is where strategic alignment comes into play. Strategic Alignment is the business redesign process by which you link business strategy with the objective of minimizing waste and misdirection of effort and resources. So how can you optimize strategic alignment? Here are the five best practices for strategic alignment.
1) Determine the Needs of Your Target Market
Market research is an effective tool to understanding the needs of the consumer. Market research aids in aligning your strategy with the buyers ' needs. Simply put, the most important question when conducting market
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Additionally, it should follow and support your key business purpose (or what your business should accomplish), core values, and goals. Basically, your corporate strategy should answer these key questions: 1) what do I want to produce? 2) Why do we exist? 3) What do we want to become? and 4) How do we serve our customers? The goal is to remain true to your organization 's purpose while simultaneously satisfying the demands of your target market. If your strategy does not accomplish this, your business is subject to misalignment.
3) Create a Product and Marketing Strategy
A product strategy is simply an operating plan for the company 's product team; a marketing strategy is the plan to effectively market that product in an reasonable and efficient manner. When creating your product strategy, you should develop a business plan to aid in product investment decisions, utilize your market research to create high demand products, and, most importantly, ensure that your business is able to continually bring that product into the market place.
Executing a successful marketing strategy includes developing a budget and brand, determining ways to interact with the target market, and aid the sales team in selling the product. A well-executed product and marketing strategy will successfully combine the demands of the external market place with the company 's corporate
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