Question

MNCs require strategic global planning. Strategic global plan results from critical analysis of both external and internal environment. It is critical in gaining market share, profitability and to survive. We have also seen many MNCs do not survive or move into another industries. Review THREE (3) major functions of marketing, production and finance that are used in implementing strategic plan. Give example of MNC that shows its marketing, production and financial (revenue) plan work.

Answer 1

Three major function of marketing, production and finance in regard with the planning of strategic plan and its implementation are:

1. Communication: To make sure the same strategy is implemented as per the plan, the main function of communication is fulfilled by the marketing, production and the finance in the organisation. The communication regarding anything: data, internal analysis, external analysis, to various stakeholders etc to make sure the strategy works is the main function to be fulfilled. For example, Amazon. Doing the marketing, financial and production work throgh having the better communication analysis at every point.

2. Demand Analysis: Another important function played all three perspective is the demand analysis. Being it marketing, production or finance, the demand analysis is estimated and worked upon by three of them. For example, The same demand analysis in Amazon helps in markering to reach the customers, production to produce the same demand and finance to have the resources to tackle and meet the demand requirements.

3. Integration: At last, the last important function being played by all the functional perspectives of the organisation is the Integration function. For example, just like the communication Amazon would ensure that marketing, production and finance are linked and integrated together to make sure the same demand estimations are communication and every system is linked to have least wastage.