BADM 3401 Lecture Notes - Lecture 1: Boston Consulting Group, Strategic Planning, Cvs Health
Document Summary
2-1 explain company-wide strategic planning and its four steps: strategic planning - process of developing and maintaining a strategic fit between the org. " goals and capabilities and its changing marketing opportunities. Customer focused: annual and long-range plans - deals with company"s current businesses, strategic plan - adapting the firm to take advantage of opportunities in its constantly changing environment steps, defining company mission. Planning marketing and other functional strategies (market level) Mission statement - statement of orgs purpose in the larger environment. Should be market oriented and defined in terms of satisfying basic customer needs ex. We are a company that makes software vs. microsoft strives to empower everyone . Not about what you sell, but about the experience: setting company objectives and goals. Should not be phrased in terms of proit. Each level of management should have reasonable expectation and goals. Example: cvs health mission > hierarchy of objectives.
