Homework Question on Business Relationships
- Many factors enter into a full explanation of a company’s performance, of course. Some come from the external environment; others are internal to the firm. But only one thing can account for the kind of long-lived success records that we see in the world’s greatest companies and that is a cleverly crafted and well executed strategy, one that facilitates the capture of emerging opportunities, produces enduringly good performance, is adaptable to changing business conditions, and can withstand the competitive challenges from rival firms.
- Corporations do not exist in the absence of people manning positions to meet their corporate goals. Marketing is a key player in this process, however, nothing happens in a vacuum. People make decisions. Decisions that will ultimately take their products and/or services to the marketplace.
- Think or imagine that you are a VP of Marketing. You are developing a strategy that involves the VP of Finance and the VP of Sales. Each of these individuals are all involved with you to develop strategic planning for your company.
- Think or imagine people you know and how personal needs may affect your relationships. Research personal needs.
- Write a two page paper discussing how personal needs can impact business relationships.
Homework Answer on Business Relationships
The importance of developing personal relationships differs in all societies, but building strong relationships is fundamental for all business professionals. While managers are awarded titles due to their contributions in the company’s operations, relationships are earned based on how well employees carry themselves in the workplace. As a VP of Marketing, gaining clients’ confidence, in addition to trusting other VPs in Finance and Sales, are keys to establishing proper business relationships.
Successful relationships need to be built strategically over time to enable businesses meet their growing needs.Developing work relationships is a challenging activity, as different personalities, opinions, and directions need to be considered before making any decision. As the VP of Marketing, I have been allocated the responsibility of developing a strategy that would enhance distribution of the company’s product.
However, developing a business strategy requires contributions from the VP of Finance, as well as the VP of Sales. Crafting and executing a business strategy necessitates the management team to bring all parties together and focus on understanding the difference between personal needs and professional relationships.Developing excellent business relationships begins by meeting people’s needs, which include personal needs.