Strategic Management and Cultural Impact
Strategic Management and Cultural Impact
Strategic planning naturally contains the process of research and compilation of proper steps to achieve maximum results. Hence it is obvious that cultural component will be virtually irreplaceable in terms of comprehensive strategy formulation. Certain assumptions / data such as cultural impact on purchasing trends and behavior, cultural factors in terms of spending habits, the impact of advertising and marketing on cultural values, as well as overall cultural attitude toward foreign goods and services are natural components that should be integrated into formulation of strategic planning. Hence, one can assume that culture will have an impact in planning and execution - those factors maybe the different between successful or failed approaches. For instance, certain products from known brands such as Coke or Pepsi have less of a struggle to take cultural factors into account. Their sheer brand may diminish such consideration. However, a product such as Dell may encounter problems based on nationalistic issues - such products would do well by incorporating cultural factors such as creating local jobs to benefit the local economy. Hence a marketing mix could / should include emphasize on such job creation to overcome "cultural nationalism".
Similarly, the same issues of cultural impact may apply to domestic business. For instance a company could encounter problems because of cultural trends such as populism - The pharmaceutical industry recently experienced some resistance from public about their intellectual property and licensing practices concerning generic HIV / Aids drugs.
Nevertheless, the overall strategic planning and formulation may have to contain a wide range of issues including culture and cultural impact, current cultural trends and potential changes; as well as the respective impact of those trends on determination, formulation and implementation of marketing mix
Strategic planning naturally contains the process of research and compilation of proper steps to achieve maximum results. Hence it is obvious that cultural component will be virtually irreplaceable in terms of comprehensive strategy formulation. Certain assumptions / data such as cultural impact on purchasing trends and behavior, cultural factors in terms of spending habits, the impact of advertising and marketing on cultural values, as well as overall cultural attitude toward foreign goods and services are natural components that should be integrated into formulation of strategic planning. Hence, one can assume that culture will have an impact in planning and execution - those factors maybe the different between successful or failed approaches. For instance, certain products from known brands such as Coke or Pepsi have less of a struggle to take cultural factors into account. Their sheer brand may diminish such consideration. However, a product such as Dell may encounter problems based on nationalistic issues - such products would do well by incorporating cultural factors such as creating local jobs to benefit the local economy. Hence a marketing mix could / should include emphasize on such job creation to overcome "cultural nationalism".
Similarly, the same issues of cultural impact may apply to domestic business. For instance a company could encounter problems because of cultural trends such as populism - The pharmaceutical industry recently experienced some resistance from public about their intellectual property and licensing practices concerning generic HIV / Aids drugs.
Nevertheless, the overall strategic planning and formulation may have to contain a wide range of issues including culture and cultural impact, current cultural trends and potential changes; as well as the respective impact of those trends on determination, formulation and implementation of marketing mix
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