M 2 Q&A
Strategic Planning - (correct answer)-is the process of developing and maintaining a
crucial fit between the organization's goals and capabilities and its changing marketing
opportunities.
-Finding the game plan for long-run survival and growth is the focus of strategic
planning.
Steps:
1.defining the organizational mission
NOT a step: evaluating members of the companys value chain
-Modern strategic planning is decentralized
-major activity is business portfolio analysis Not product innovation
-purpose to find ways in which your company can best use its strengths
Mission Statement - (correct answer)-documents an organizations purpose—what it
wants to accomplish in the larger environment
-Mission statements should __be market oriented;_ and be defined in terms of satisfying
basic customer needs.
-A mission statement serves as a statement of the organizations purpose
-Mission statements should be meaningful and specific yet motivating
-The companys goal is to create abundant and affordable food for all and a healthy
environment."This represents Orions mission statement
-Fun Spots mission is market oriented
-clear mission statements acts as an "invisible hand"
-should be market oriented and defined in terms of satisfying customer needs
-NOT just making more sales or profits
Companies that define their missions in terms of product or technology are considered
, myopic primarily because ________. - (correct answer)products and technologies
eventually become outdated
Which of the following is NOT a market-oriented business definition?
What is a market oriented business definition ?
Which of the following companies has a market-oriented business definition? - (correct
answer)We make high-quality consumer food products.
We empower customers to achieve their dreams.
-A cosmetic company, whose business definition is: "We sell hope and self-esteem."
Which of the following is NOT an example of product-oriented mission statements?
Which of the following companies has a product-oriented business definition? - (correct
answer)"We sell memorable experiences"
-A shoe manufacturer, whose business definition is: ;We manufacture affordable and
long-lasting shoes for all.
Business portfolio - (correct answer)-The collection of businesses and products that
make up a company
-First step is determining which businesses should receive more, less, or no investment
-The major activity in strategic planning is business portfolio analysis, whereby
management evaluates the products and businesses that make up the company.
Strategic Business Unit - (correct answer)-the key businesses that make up a company
-stars are a type of SBU that often require heavy investments to finance their rapid
growth
-Cash cows are low-growth, high-share businesses/products that need less investment
to hold their market share.
-Cash cows can be used to help finance the companys question marks and stars.
-By harvesting its SBU, a company would most likely be milking its short-term cash flow
regardless of the long-term effect
Strategic Planning - (correct answer)-is the process of developing and maintaining a
crucial fit between the organization's goals and capabilities and its changing marketing
opportunities.
-Finding the game plan for long-run survival and growth is the focus of strategic
planning.
Steps:
1.defining the organizational mission
NOT a step: evaluating members of the companys value chain
-Modern strategic planning is decentralized
-major activity is business portfolio analysis Not product innovation
-purpose to find ways in which your company can best use its strengths
Mission Statement - (correct answer)-documents an organizations purpose—what it
wants to accomplish in the larger environment
-Mission statements should __be market oriented;_ and be defined in terms of satisfying
basic customer needs.
-A mission statement serves as a statement of the organizations purpose
-Mission statements should be meaningful and specific yet motivating
-The companys goal is to create abundant and affordable food for all and a healthy
environment."This represents Orions mission statement
-Fun Spots mission is market oriented
-clear mission statements acts as an "invisible hand"
-should be market oriented and defined in terms of satisfying customer needs
-NOT just making more sales or profits
Companies that define their missions in terms of product or technology are considered
, myopic primarily because ________. - (correct answer)products and technologies
eventually become outdated
Which of the following is NOT a market-oriented business definition?
What is a market oriented business definition ?
Which of the following companies has a market-oriented business definition? - (correct
answer)We make high-quality consumer food products.
We empower customers to achieve their dreams.
-A cosmetic company, whose business definition is: "We sell hope and self-esteem."
Which of the following is NOT an example of product-oriented mission statements?
Which of the following companies has a product-oriented business definition? - (correct
answer)"We sell memorable experiences"
-A shoe manufacturer, whose business definition is: ;We manufacture affordable and
long-lasting shoes for all.
Business portfolio - (correct answer)-The collection of businesses and products that
make up a company
-First step is determining which businesses should receive more, less, or no investment
-The major activity in strategic planning is business portfolio analysis, whereby
management evaluates the products and businesses that make up the company.
Strategic Business Unit - (correct answer)-the key businesses that make up a company
-stars are a type of SBU that often require heavy investments to finance their rapid
growth
-Cash cows are low-growth, high-share businesses/products that need less investment
to hold their market share.
-Cash cows can be used to help finance the companys question marks and stars.
-By harvesting its SBU, a company would most likely be milking its short-term cash flow
regardless of the long-term effect
