Risk Management Risk Management while implementing Marketing Strategies, is first topic of interest in this course, since it remains a big issue confronting most Companies today. What would happen with Tesla raw materials from Third World Countries, in the event of a coup detat, devaluation of the Country own currency, or insolvable economy unable to pay its debts to The IMF. “Top executives have become keenly aware of the importance of managing corporate risk”, which leads us to risk culture assessment of its own strength and ways to counter risk. In my organization I worked for, Towne Park LTD, the employees of the Firm remained well trained on risk management, and the methodology of their routines and procedures ensured a high degree of safety. Employees were encouraged to articulate in open conversations their knowledge of risk, and were awarded for mitigating risk.
Situational Analysis
Situational Analysis is the second topic of interest to me in this course. It is defined as the affect of key elements, trends and issues, in making marketing decisions, on internal, external, and customer environments (Ferrel, Heartline, & Holstein, 2023). For instance Tesla Company is known to love and implement Big Data, from credit cards transactions, behavioral clues, social media, in gaining immediate informational data about new and existing customers. I am passionate about situational analysis, and I am keenly aware of its use when I was stationed at Fort Sill, and while marching, I had to scan my environment, and make assessments about a good range of potential situations.
SWOT Analysis
This is the third topic of interest, more like an acid test, to where the Company is heading, given its opportunities, weaknesses, strengths, and competitive factors. According to Ferrel, Heartline& Holstein, (2023), the functionality of any SWOT analysis, leads to collaboration, and exchange, based on good planning and sound strategies. Towne LTD had a very well defined SWOT, with many key areas, on unique positioning in the market, that gave the Towne Park LTD, a different and long lasting success in spite of existing competition. I adore SWOT analysis , since it is a snapshot of all the key areas for an insightful decision of where the Company is heading.
Influence and Career
As an investment advisor, or financial advisor on top man agent team, I will need situational data, risk management for sound investment, and SWOT analysis, if My Career is heading in that direction. I was impressed about the reliability of engineers at several companies, whose detailed drawings were delivered on time, saving a potential cost to the Contractor of 10000 USDollars per day, per hour, for equipment use. This implies good situational analysis of multiple projects with different timelines. For contractor it means good risk management. In my career, I might provide services for many companies, so I remain dedicated to studying, engaging in networking, and passing Securities License Examinations, to prepare me for what is ahead. Similarly, expertise in all these topics will increase my actual marketability, and enable me to become very efficient in tackling many issues, therefore becoming a key team member of top management, and an asset to the Company.
Perspective on Marketing Strategy
I urge the use of Dedicated Software to implement marketing strategies, based on human knowledge and machine learning. This would increase our complex understanding of interconnected environments. In essence, this would be a natural progression of merger of marketing and machine learning. I hope one day I will be able to implement key implementations of Company’s Marketing Strategies using machine learning.
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