Business Definition


Determining what business an organization is in is neither obvious nor easy. In many instances, a single organization may operate several businesses. Defining each of these businesses is a necessary first step in strategic management.

Contemporary strategic marketing perspectives indicate that an organization should define a business by the type of customers it wishes to serve, the particular needs of those customer groups it wishes to satisfy, and the means or technology by which the organization will satisfy these customer needs. By defining business from a customer or market perspective, an organization is appropriately viewed as a customer-satisfying endeavor, not a product-producing or service-delivery enterprise. Products and services are transient, as is often the technology or means used to produce or deliver them. Basic customer needs and customer groups are more enduring.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Advertisements