Introduction
Business performance is closely linked to a firm’s sales and marketing strategies. Notably, internal and external business conditions require diverse approaches for corporations to gain a competitive advantage. According to David and David (2017), a company’s high-quality products and services may not result in the corporation’s success if other aspects, such as employee relations and rewards, are ignored. Evaluating different companies’ strategies gives insight into the influence of strategic management on performance.
Programs, Products, or Services, Organizational Strategies, and Communication
A company’s products and services significantly affect its marketing and determine sales revenue. Google’s provision of a wide range of free programs and services presents an example of a marketing strategy focused on product delivery. Google’s Gmail, the search engine, and similar free programs have made it among the top-selling companies globally (O’Connell, 2018). Google’s product and functional-based organizational strategies present examples of organization-based techniques that facilitate corporate performance. In addition, Google has adopted an open communication policy that reveals how communication strategies influence marketing. At Google, analytics are used, and every employee is allowed to access crucial information and share data among the various company stakeholders for optimum performance (O’Connell, 2018). These elements have given Google a competitive advantage putting it ahead of its rivals.
Recruitment of New Talent, Employee Relations, Training Needs, and Reward Structure
The recruitment and training strategies significantly influence organizational performance. Amazon provides an example of recruitment techniques and effective staff development approaches. It considers person-organization (P-O) fit when making hiring decisions because it offers a competitive edge, attracts and retains talent, and lowers turnover (Baboolal-Frank, 2021). Amazon exemplifies employee relations techniques through its variety of benefits to workers, such as medical insurance, a 401(k) plan, a family support structure, an adoption incentive, leave share, employee discounts, and paid time off (Baboolal-Frank, 2021). Amazon’s Career Skills is a technique that falls under training needs strategies, in which all hourly staff has access to the free on-site training and advancement program starting on day one (Baboolal-Frank, 2021). The reward system at Amazon entails a basic salary, a joining bonus, and limited share units make up Amazon’s reward system (Baboolal-Frank, 2021). These strategies show how Amazon has established itself in the market, rising above competitors.
Facilities, Information Technology, and Leadership
Facilities are essential since they provide organizations with platforms for production and development. Toyota is among the companies that have established key facilities, such as the Toyota sports center and numerous service and manufacturing centers globally (Soliman, 2020). The merging of three key information technology systems, Toyota Communication Systems Co., Ltd. (TCS), Toyota Caelum Inc. (TCI), and Toyota Digital Cruise, Inc. (TDC), provides an illustration of the company’s IT strategy (Soliman, 2020). In regard to leadership, Google’s implementation of the Objectives and Key Results (OKR) strategy in leadership has revealed how managers guide employees to formulate practical objectives and work toward key results (O’Connell, 2018). These initiatives have enabled giant companies to maintain exemplary performance in the industry.
Marketing and Resources
Nike presents an example of strategic marketing as companies adjust their marketing and resource utilization techniques. The company formulated a video game in 2018 to promote its React shoe brand (Shots, 2018). Strategic resource utilization is seen through an example of Google’s advanced workforce database and inventory system that enables the management to track all its resources and maintain effective utilization (O’Connell, 2018). Through efficient resource management, corporations have applied enough effort to marketing, translating to business success.
Conclusion
In conclusion, strategic management plays a crucial role in determining business performance. As companies adopt various production, marketing, information technology systems, and recruitment techniques, they gain a competitive advantage and rise above competitors. Google, Amazon, Toyota, and Nike have provided examples of recent strategic marketing techniques for optimum productivity. In essence, a company’s position in the market is determined by the strategies adopted at various times, which should align with the prevailing market conditions.
References
Baboolal-Frank, R. (2021). Analysis of amazon: Customer centric approach. Academy of Strategic Management Journal, 20, 1-16. Web.
David, F. R., & David, F. R. (2017). Strategic management: Concepts and cases (16th ed.). Pearson.
O’Connell, B. (2018). History of Google: How it began and what’s happening beyond 2019. The Street. Web.
Shots. (2018). Run into an immersive video game with Nike’s react shoes. Shots. Web.
Soliman, M. H. A. (2020). The Toyota way to effective strategy deployment: How organizations can focus energy on key priorities through Hoshin Kanri to achieve the business goals. Journal of Operations and Strategic Planning, 3(2), 132-158. Web.