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Strategic Management market segmentation - Essay Example

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A market research is to be undertaken and proper segmentation of the market is to be carried out. This will help us in identifying the segments that are not addressed by other competing products in the market. Segmentation itself can be done on multiple basis; in terms of clients, products, geographic locations, etc., Once done, in every segment, competing products have to be identified and listed…
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Strategic Management market segmentation
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Download file to see previous pages 4. Recruit the relevant people by suitably interviewing them and then selecting them. They need to be trained on the questions and the aim of the questions. Then the recruits need to be sent out to the field to collect the relevant data from the planned samples.
I do some research for Enterprise Portfolio Management Office in AAA of Northern California. What this office does is Project Portfolio Management (PPM) - a new discipline in organizations, the one that links strategy formulation with the strategy implementation through selecting, prioritizing, optimizing and controlling project portfolio (the set of all projects in an organization). PPM is used the most in IT management (because IT was always the leader in project management), but now PPM is used to manage any portfolio of projects.
3. Initiatives are made, followed through, altered and appropriately projected to ensure clearer and firmer picture. Only those initiatives and projects that subscribe to this view needs to be brought under the scope of this initiative.
6. A bird's eye view of the overall initiative is seeable. ...
PPM is used the most in IT management (because IT was always the leader in project management), but now PPM is used to manage any portfolio of projects.
Please study some of the articles on PPM:
1. http://www.projectperfect.com.au/downloads/info_PPM.pdf
2. http://www.grantthornton.com/downloads/APM_whitepaper_100814.pdf
3. http://www.welcom.com/content.cfmpage=530
1. What issues would you consider when selecting projects to implement your strategy
The following issues need to be considered while implementing the Project Portfolio Management Strategy in the company.
1. Projects should be aligned with initiatives and the business objectives of the company. Initiatives become the projects and transcend annual budget borders.
2. While selecting the projects we need to look at which of them would need a closer watch, a bird's eye view, resource sharing and appropriate use of all available resources.
3. Initiatives are made, followed through, altered and appropriately projected to ensure clearer and firmer picture. Only those initiatives and projects that subscribe to this view needs to be brought under the scope of this initiative.
Those projects where we might like to reap the following rewards, we need to implement the new strategy.
1. Faster and transparent change management
2. Quicker results since we have a close watch on the progress of the initiatives.
3. Minor projects will remain minor and not become a major issue that needs to be tackled post haste.
4. Initiative objectives are transparent and targets are achieved there rather than have the project dictate the objectives.
5. Portfolios can be constantly altered to enhance gains
6. A bird's eye view of the overall initiative is seeable. This will establish links across projects and ...Download file to see next pagesRead More
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