Article 2: Introduction to Brand and Strategy Evolution
There is a missing connection between strategic plans and branding that when present can aid implementation of the plans and impact organizational performance. An article in Harvard Business Review stated most people cannot articulate their company’s strategy, and only 28% could list three strategic priorities. The few organizations with official strategies find it difficult to communicate them effectively, but those that do increase their chances of success. Branding and communication with stakeholders are pieces of strategy with distinct purposes.
Strategic planning was developed in the military and adapted to the business world and was later used by public and nonprofit organizations. Organizations engaged in long-range planning, which became known as strategic planning, indicating it was an intentional and comprehensive process . The most comprehensive plans are detailed to define the stakeholders, roles and responsibilities, resource allocation, key performance indicators, implementation action plans, and more.
The definition of the term brand has evolved over the years, but in contemporary business, brand means the perception a stakeholder has of a company, product, service, or entity. With that in mind, brand and communication are related and integral to strategy as brand values must be communicated and understood by all stakeholders (internal and external constituents). This series from my doctoral research illustrates the significance of communicating a brand. The previous post discussed the overall management problem, while this post gave a preview to the background information. More background information will follow including the terminology and the theoretical framework used, Then, the research available and methodology will be explained. lastly, a summary of results and recommendations will be shared.
Reference Sources
Freeman, J. P., & Wilmes, D. M. (2009). Facilitating change through integrated strategic planning. Planning and Changing, 40(3/4), 224–241.
Lancefield, D. (2022, November 29). How to communicate your company’s strategy effectively. Harvard Business Review. https://hbr.org/2022/11/how-to-communicate-your-companys-strategy-effectively
McLaughlin, J. (2011, December 21). What is brand, anyway? Forbes. https://www.forbes.com/sites/jerrymclaughlin/2011/12/21/what-is-a-brand- anyway/?sh=29357de12a1b