Entrepreneurship and Small business. MKT2290 Essay

Entrepreneurship and Small business. MKT2290 - Essay Example The corporate strategy plays a significant role at building a bridge between the company’s inner policies and the undertakings it has with the various stakeholders, who could be from the external marketing settings. (Korzeniowski, 2001) In the world of today, external marketing environment has gained a lot of essence due to the fact that it brings into picture the real role of the channel members, middle line managers and wholesalers as well as other personnel who do their bit towards completing different activities and tasks, coming directly under the auspices of the organization’s hold. (Applbaum, 2004) What is therefore necessary in such a situation is to be open to all forms of criticisms which could be raised by the various stakeholders and parties hailing from the external marketing environment and the related regimes. This will present the said organization with a host of options when it devises a plan to counter the problems which it is facing at the hands of the external marketing environment and the different players present within the very same environmental settings. Problems stumbled upon by the business at one region or at a local franchise would mean that the company should be ready to bear lo sses of an unimaginable cost. More than that, the company will lose its self-won respect and dignity around which shareholders and owners, etc are revolving around. Long range planning can help a particular company gain so much in accordance with its goals and objectives that had been planned and drafted but in the current times more and more attention and emphasis is making the rounds of the discussion as to whether these plans can actually deliver what was expected of them in the first place. Now we shift to the methodology and rationale behind building competitive advantage. This is something that is build over time and requires synchronization between the