The fierce race for developing radically innovative businesses in the hyper competitive world wide scenario is becoming everyday tighter and rougher. The pace is even rougher in certain industries such as electro-technical industries or information and communication technology fields. We know world’s high-tech industries seems to be the representative face of our world development reference although not the exact one. The heart of all this and most of the time if not always and commonly overlooked seems to be the brand. Branding is usually taken apart from a corporate strategy and left out and handed out to advertising agencies.
Corporate Strategy is one of the main core to sustain the surviving of a company or organization throughout time and as the head of a body it should function properly manage the other members. The ultimate goal of Corporate Strategy is to secure / achieve competitive advantage and we all know competitive advantage secures the long term survival of a company
The main objectives of entrepreneurship besides obviously securing profit maximization and shareholder value? Is to define a proper strategic management that constantly ask what is the market share? growth? and how beautiful is big. Based on this can we say that the ultimate goal of a company can only be defined at a higher level: -Turn a dream into reality, create / sustain competitive advantage and transform resources into economic values, but also secure long term success, survival, health of the company (sustainability/viability). For this we must also know that a very important factors of success must be a good competitive position that delivers value for the customer and express innovative power
Profit maximization or value creation is not the primary and most important goal of an entrepreneur, however: It is a necessary condition for survival in a competitive environment and a yardstick for success. Long term value creation as condition of survival needs a balancing of the interests needs a balancing of the interests of all parties involved.
Customers needs value not products purchases. Value creation is like different spices of a gourmet food, all of them are necessary, each one of them must be used in the exact proportion, it is such delicate operation that if not well managed food will taste awful. Brand building, remaking of a brand and brand making is becoming constantly overlooked by the management team either in medium and more especially in small companies due to the lack of a properly defined corporate culture, in the other hand large corporations tend to ponder this factor and they spend a good, healthy amount of time money on brand building.
A strong brand identity and product branding of a strongly cared brand can make the company competitive. only competitive business companies are able to produce sustainable profits, to innovate and to create jobs Competitive strength secures viability and long-term success. Only competitive business companies will create sustainable and long-term value for their investors and the brand is paramount.