Abstract
In today’s world it is difficult for organizations to keep up with the continuously changing market demands. The consumer is an individual and wants a personalized service. Customer loyalty is much harder to keep. This creates a tremendous challenge for organizations to keep existing customers and attract new ones. Developments in social media, the exponential growth of data, ever-changing laws and regulations, and the enormous amount of touch points (channels) are examples of the continuously changing environment for organizations. Organizations must make choices and not jump on every new development without first mapping the consequences. This requires leadership and the ability to make choices and to underpin these choices. These choices and the underpinning are part of an organization’s strategy (Fig. 2.1).
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Notes
- 1.
Richard Rumelt is Harry and Elsa Kunin Chair in Business and Society at the University of California-Los Angeles.
- 2.
Operational excellence: Strategy characterized by a high degree of standardization and tight, uniform control of processes. The starting point is a quick, unambiguous delivery of products and services to customers at the lowest cost and least time. Focus on efficiency, cost, and time savings.
- 3.
Customer intimacy: The wishes of the customer come first. Focus on loyalty and customization.
- 4.
Product leadership: Flexibility, adaptability, initiative, and individual thinking are central to this strategy. The focus is both on innovation and on market conquest.
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Septer, J. (2013). The Importance of an Enterprise Information Management Strategy. In: Baan, P. (eds) Enterprise Information Management. Management for Professionals, vol 2. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-5236-2_2
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