Strategic Planning Strategic planning is the managerial decision process that matches the...
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Transcript of Strategic Planning Strategic planning is the managerial decision process that matches the...
Strategic Planning
• Strategic planning is the managerial decision process that matches the organization’s resources and capabilities to its market opportunities for long-term growth
• Firms may become multi-product companies with self-contained divisions– Strategic Business Units (SBUs)
– Example: The Walt Disney Company
Strategic Planning at the Corporate Level
• Defining the Organization’s Mission
• Establish Corporate Objectives
• Allocate Resources to the SBUs
Defining the Organization’s Mission
• A mission may begin with these questions:– What business are we in?– What customers should we serve?– How should we develop the firm’s capabilities
and focus its efforts?
The Business Portfolio
• For firms with different SBUs, planning also includes allocating resources among the businesses
• Each SBU is a separate profit center within the larger corporation
• Each SBU is responsible for its own costs, revenues, and profits
Evaluating the Environment: SWOT Analysis
Strengths/Weaknesses - internal issues requiring management decisions
Opportunities/Threats – external environmental events
Competitive Advantage
Turn a distinctive competency into a differential benefit
• Differential benefits set products apart from competitors’ products by providing something unique that customers want
Identify what a firm does really well• Distinctive competency - a firm’s capability that is
superior to that of its competitors
Marketing Planning
Analyzing the Marketing EnvironmentSetting Marketing ObjectivesDeveloping Marketing Strategies
Developing Marketing Strategies
Selecting a Target MarketDeveloping Marketing Mix Programs
– Product Strategies– Pricing Strategies– Promotion Strategies– Distribution Strategies