According to another. Finally, an emergent strategy

According to Mintzberg (1992),
a strategy is a scope and direction adopted by an organisation on both
long-term and short basis. It helps in configuration of the firm’s resources in
a manner that it beats all the challenges in the operational market and
eventually achieves its customer and stakeholder’s expectations (Mintzberg,
1992 p. 15). In realizing these goals, strategy takes up different shapes and
breadth; therefore this question will explore strategy as plan, pattern, and
emergent while analyzing any relationship between the three lenses.

Strategy as a plan- Rumelt, Schendel & Teece (1991)
presents strategy as a set of guidelines used by an organization in dealing
with a given situation. For example, a corporation may have a plan to capture a
specific international market or gain competitive advantage. The example proves
that strategies are created in advance of the core actions which apply in the
organizational setup. Additionally, they are consciously and purposefully
developed a course of action. In a firm’s management, a strategy is expressed
as an integrated, comprehensive and unified plan that is nurturing to ensure
that goals and objectives of an organization are achieved (Rumelt, Schendel
& Teece, 1991 p. 259). For example, to achieve cost leadership in a
competitive market, an organization may decide to create a plan focused on
lowering internal operational costs. In entirety, this plan acts as a strategy
that will assist the organization in achieving its goal of leading the market
through quality goods placed at low prices. This strategy is mostly used by
Toyota in placing its products on the market.

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Strategy as a pattern- Todeva (2011) highlights a
strategy as a stream of actions. That is, a strategy is reflected as a
consistency in the behavior occupied by a company either intended or unintended
(Todeva, 2011 p. 17). For example, Apple has introduced battery diagnosis
application for all its new iPhone 7.  At
this point, it now clear that patterns are the released strategies while plans
are the intended strategies. However, they are linked by the innermost goal of
developing the organization from one level to another.

Finally, an emergent
strategy is explored as a pattern of actions that are developed over time in
the organization. This strategy is achieved despite the absence or presence of
organization goals, objectives and mission. For that reason, emergent
strategies are not catalyzed by the original plan developed by the company (Popescu,
2017 p. 35). For example, while planning marketing needs; most companies focus
on mainstream media such as billboards and Television advertisement. However,
the growth of social media and especially Twitter has introduced an emergent
avenue where trends are set to promote different products both locally and
globally. The exploration has proved that the three lenses: plan, pattern, and
emergent relate at the hip as they are all directed at creating comprehensive
programs for nurturing the company to achieve its stakeholder’s demands (Schlegelmilch,
2016 p. 21).

Question
Two

Elaborate on the purpose and the
limitations of THREE marketing audit models.

Marketing
audit models provide a comprehensive review that is used in evaluating
marketing strategies, gauging total returns on investments and boosting the
organization tools goals and objectives. The three marketing audit models are
SWOT analysis, PESTEL analysis, and Five Forces analysis.

SWOT
analysis- It analysis the strengths, weaknesses, opportunities, and threats.
The purpose of this model is measuring both internal and external environments
in the organization. According to Sarsby (2016), strength and weakness are
considered internal aspects while on the other hand, threats and opportunities
evaluate both internal and external aspects. However, the model is limited in
the sense it does explore the macro environment (Sarsby, 2016 p. 59).

PESTEL
analysis- To neutralize the limitation expressed in SWOT analysis, the PESTEL
model explores the macro-environment where its analysis political, economic,
socio-cultural and technological factors. Conversely, this model is not capable
of exploring the innermost factors in the organization (Issa & Chang, 2010
p. 73).

Porter’s
Five Forces Analysis- This model is focused on the external factors of the
business as opposed to the product and its product line. In its functionality,
it checks on the threats of entrants, the bargaining power of customers, the
bargaining power of the supplier, competitive rivalry and threats of a
substitute. The only limitation of this model is that it does not offer a
recommendation on what the company should do on the internal forces in the
product or operational lines (Van, Williamson & Babson, 2007 p. 87).

Conclusion

At
any organizational level, strategy formation is important as it offers the
right direction for the organization in order to realize the firm’s goals and
objectives. Therefore, the management must choose the best strategic lenses in
order to acquire the much-needed organization vision. In situations where the
organization does not understand the direction to take, application of SWOT,
PESTEL and Porter’s Five Forces marketing audit model may help in setting
guidelines for effective goal achievement.