Chapter 2 Flashcards
Strategic planning
the process of developing and maintaining a strategic fit between the organizations goals and capabilities and its changing marketing opportunities.
What is the first step in the strategic planning process?
Defining organizational mission
What is not a step in strategic planning?
Evaluating companies value chain
Mission statement
a statement of the organization’s purpose, what it wants to accomplish
A mission statement should be ____?
meaningful, specific, motivated
The collection of businesses and products that make up a company
Business portfolio
The major activity of strategic planning is ____
portfolio analysis
Which best describes a strategic business unit?
Key businesses that make up a company
Most standard portfolio analysis evaluate SBU’s based on____
strength of market industry position
According to the Boston Consulting Group approach, market attractiveness
Market growth rate
____ are the type of SBU that require heavy investment that require rapid growth
Stars
Cash Cows
Low growth, high share
Question marks
low share business units with high growth markets
