RЕFLЕСTIОN JОURNАL 1 Essay Example

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Masters
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    2
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    1270

RЕFLЕСTIОN JОURNАL

RЕFLЕСTIОN JОURNАL

Key challenges experienced at various levels

Throughout the research plan development there were a number of challenges faced. One of the main challenges faced was to find accurate and concrete research data to build the research on. In this case, the second hand car business selling prices varied depending on the company as well as other internal company factors. Therefore during the research plan development we spent relatively a lot of time debating the ideal process for this new secondhand car enterprise marketing plan in consideration of the customer’s affordability aspect. Further, pricing was a sensitive issue which to some extent would determine the success of the new enterprise marketing plan (Sandy, 2012). Thus, we were forced to dive deep into research to review a number of affected internal issues for the company in regards to pricing and come up with the most appropriate pricing for the newly developed enterprise marketing plan. This relatively took a lot of time for the enterprise marketing plan development process resulting to some areas of the enterprise marketing plan not to be allocated ample time. On the other hand, due to the varying prices there were also some inconsistencies in developing the enterprise marketing plan implementation maps due to the differently affected variations by the changes in price in the research plan development process.

Key advantages and disadvantages of strategic enterprise marketing planning

One of the key advantages of this strategic enterprise marketing planning process is that it establishes the direction to be taken up by the business. Hence, the organization is able to establish clear direction and realistic goals for the business that are aligned with its purpose and mission. Additionally, this strategic enterprise marketing planning creates longevity of the business. In this case, it endures that good ideas are identified and pursued therefore guaranteeing the business some longevity aspects (Mietzner & Reger, 2014). One main disadvantage of this strategic enterprise marketing planning is that it is relatively time consuming. Thus, it is difficult to know the time to stop reviewing and gathering information which could waste a lot of time and when to use the acquired information. Moreover, the difficulties encountered that hinder putting this plan in actual play limits the strategic plan. Hence, implementing the created plans has proven to be quite critical due to many variations required in developing the enterprise marketing plan.

Limitations of enterprise marketing planning

One of the limitations of this enterprise marketing planning is that it tends to leads to both internal and external inflexibilities due to conflicting priorities and expectations of key stakeholders. In this case, the relevance and applicability of this enterprise marketing plan differs in various contexts and situations in the organization. Besides, due to the involved variables required to put this plan in place either internally of externally are bound to crop up therefore resulting to inaccuracy of the developed enterprise marketing plan during its implementation stage (Kahalas, 2011).

Conflicting priorities and expectations of key stakeholders

Conflicting priorities and expectation of the key stakeholders is another key limitation. For instance, in the case of pricing the stakeholders has a number of conflicting opinion on what should be the best price for the developed enterprise marketing plan (Bier & Lin, 2013). In line with this a number of the stakeholders had the opinion that the prices should be above the market price due to the already gained business popularity and reputation however, other claimed that since the business was turning on a new leaf it has to align its prices with the market prices.

Access to core/key data

On the other hand, some difficulties were experiences especially during accessing the key data. The key data required for this enterprise marketing plan development process needed some deep research from multiple sources in order to ensure of the accuracy of the collected key data. For instance, in regards to competitors one has to first research the organization business model and then carry out a deep analysis research of similar competitor organization which have adopted the similar business model (Sandy, 2012). On the other hand, in regards to accessing the key data for this plan development process an amount of creativity needs to be implemented. In this case, researching this key information for the enterprise marketing plan development some aspect of creativity was needed in order for one to be aware of the appropriate source to carry out the research for the achievement of concrete and accurate results.

Issues and challenges of making decisions in a world of uncertainty

Decision making throughout the enterprise marketing plan development process posed some challenges. Since the enterprise marketing plan development process involved a number of individuals who were allowed to give their opinions coming up with the most viable decisions proved to be quite difficult (Kahalas, 2011). In line with this, a lot of time were spent debating the viability of these decision and due to the fact that none of these decision seemed not to have flaws choosing one decision proved to be even more difficult. Moreover, the differences in preferences, and unwillingness to change also made the decision making process even more difficult during the enterprise marketing plan development process.

A number of the participants of the decision making process for the enterprise marketing plan development were fixated on a number of issues and they were not ready to consider the other side of these issue as well as their alternatives in order to come up with the most viable decisions. On the other hand, since these individuals involved in the division making process were relatively many the entire process in general was relatively slow which also seemed to slow the decision making process (Mietzner & Reger, 2014). The longevity of the decision making process on the other hand led to impulse decision making processes as well as speculative decision making processes which was relatively inaccurate in the long end.

Skills and capabilities created by my involvement in this course

My involvement in this course has led to the development of analytical skills. In this case, through developing the enterprise marketing plan I was able to improve my analytical skills through my involvement in market analysis as well as feasibility analysis. Additionally, my involvement in this course also led to the development of my problem solving skills. Being a strategic planner I was involved in problem solving in order to ensure that the organization business goals and objectives are met (Gusakov, 2012). Consequently, I was able to analyze data related to the enterprise marketing plan and come up with the best solution to solve the identified problems during the enterprise marketing plan development process.

In conclusion, the enterprise marketing plan development process was quite educative and involving as well. I was able to develop some key skill that will be quite ideal in the implementation of the developed enterprise marketing plan going forward.

References

Bier, V., & Lin, S. (2013). On the Treatment of Uncertainty and Variability in Making Decisions About Risk. Risk Analysis, n/a-n/a. http://dx.doi.org/10.1111/risa.12071

Gusakov, M. (2012). Factors defining the need in formation of skills for development of enterprise marketing plan among the heads of the sports organizations. Uchenye Zapiski Universiteta Imeni P.F. Lesgafta, (88), 27-30. http://dx.doi.org/10.5930/issn.1994-4683.2012.06.88.p27-30

Kahalas, H. (2011). A look at major planning methods: Development, implementation, strengths and limitations. Long Range Planning, 11(4), 84-90. http://dx.doi.org/10.1016/0024-6301(78)90012-2

Mietzner, D., & Reger, G. (2014). Advantages and disadvantages of scenario approaches for strategic foresight. International Journal Of Technology Intelligence And Planning, 1(2), 220. http://dx.doi.org/10.1504/ijtip.2005.006516

Sandy, W. (2012). Link Your Enterprise marketing plan to a Performance Plan. Journal Of Business Strategy, 11(6), 4-8. http://dx.doi.org/10.1108/eb039381