The business environment is dynamic. It has become very competitive with everyone trying to identify a factor that will give the company a competitive edge. Therefore, it is important that your organization develops skills that will enable to stay on par or even ahead of the competitors.
Planning is an essential organizational skill. The upper levels of management in the organization need this skill more than those in the lower levels. It is because most projects that an organization is seeking to accomplish have a timeline. To ensure a timely and successful completion of these projects the people leading the projects must possess planning skills.
It is because the projects have many tasks within them that need to be done. Sometimes the failure to complete one task can affect the success of the project. An example is when building. If the people working on the foundation delay, then the project will end late. It is because the completion of the upper floors relies on the presence of the foundation. Planning will enable the different employees working on the different tasks to know when they should begin working so that they can get it done in time. Good planning is that which takes into consideration the potential problems that could affect the project.
Social marketing has become popular because it can reach the various groups of market segmentation. Also, it is easy to customize the advertisements so that they can communicate effectively to the different segments. For example, when placing an advertisement on Facebook, you can choose the region where the individuals can see the advertisement. The ability makes it effective in reaching the desired target audience. When compared to the other types of marketing, social marketing is low cost. On top of that, it has a high Return on Investment than any other advertising method.
On social media, you can give the audience an offer so that they can share your advertisement on their timeline. For example, you offer them a 5% discount if they share a photo of them dining in your restaurant on their social media account’s timelines. The method is effective because it will increase the reach. When they share the photo, most of the people who will see it is their friends. It will be easy for them to get convinced because it is from their friend rather than when they see an advertisement from the company.
Allocation of Resources
Organizations differ in sizes and a company can operate regionally, nationally, and even internationally. No matter the size of the company it will serve individuals belonging to various groups with respect to their marketing segmentation. These groups have varying needs, and for the firm to be profitable, it has to meet their needs.
A company will use its resources including human resource and financial resources to address the needs of the different segments. These different segments do not generate the same amount of revenue for the firm. Also, they do not share a similar potential for growth. Some segments can be profitable and possess a high potential for growth than others.
It is critical that the organization coordinates the different resources it allocates to the different segments. It makes no sense to use many resources in a segment that generates small revenue for the company and has little potential for growth. For a company to maximize profits, it should allocate most resources to the segments that generate much revenue for the company and those that have a great potential for growth.
There are different organizational skills that a firm needs to possess for it to be very competitive and profitable. Planning, use of social marketing, and effective allocation of resources to various segments top the list. A firm that can develop this organizational skill is bound to be successful.