The paper "Marketing Strategy and Management" is a worthy example of an assignment on marketing. Indeed, with “ equity worth NZ$67 million, an annual turnover NZ$39 million, an after-tax surplus of NZ$11 million, and considered as the most profitable trust in New Zealand” , one cannot doubt that the ILT is a success story. Besides the monetary success, the ILT has also managed to achieve most of the social goals that it set as part of its mission. There are several reasons for this success. The most obvious one is the fact that the ILT has been a monopoly.
At least it was in its initial stages. This means that the ILT has been- for most of the time since it began its operations- the sole proprietor for most of the businesses, especially the major forms of trading on liquor (including off-licenses and pubs) as provided for in the Sale of Liquor Act 1989 Section 216. But the real success of the ILT cannot be measured. This intangible success surrounds the mission and vision that the creators of the trust had in mind about the kind of community that they wanted Invercargill to be.
To do this, the ILT did not exactly aim for profits. Any profits made were meant to be invested back into the key objective, i.e. the community. The ILT won the support of the community through sponsoring events and by being a partner in most grassroots businesses and issues. According to Scarpelli (2009), these are some of the ways to win the hearts and support of the community. Part of ILT’ s success, in this case, is due to the fact that the citizens of Invercargill gave it a free rein to prove itself.
By entrusting the running of the ILT to the select few means that it set itself free from political interference that can sometimes be an obstacle to the smooth running of organizations. In other words, the ILT has the support of the people. Also, Invercargill was relatively small in size, and with a population of 50,000, it was easy to run. In other words, it was easy to measure success, as well as track the money and how it was used.
This means that it was easy to maintain accountability and kill corruption. Question 2 An organization without a mission is bound to fail. The mission mentions the organization’ s overall purpose and sets out the parameters of its operations. The mission of the ILT is to serve the community (CARI, 2008). Although like other organizations, it is focused on profits, ILT’ s ultimate responsibility is to the community it serves. Thus, unlike other organizations in which money comes first and other stakeholders second, the ILT made the community first and money secondary.
At every point, the interests of the people were put into consideration. All the profits made have only been used to uplift the livelihood of the people of Invercargill. Both the original and the second legislations provided for the distribution of the profits to the community for many purposes, including charity and recreation. This is what makes ILT’ s responsibility to the community special.