BUS 343 : bu343 ch2

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maroonfrog454

9 Jan 2012

School

Simon Fraser University

Department

Business Administration

Course

BUS 343

Professor

Don'tremember

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Document Summary

Business planning occurs on a annual basis at 3 levels: A managerial decision process that matches an organization"s resources and capabilities to its market opportunities for long term growth and survival. Focus on firms ability to respond to changes and opportunities in the environment. Occurs at 2 different levels corporate (entire business) and individual strategic business units (sbu) Does not include details of marketing mix (in marketing plan) 4 key stages in top level strategic planning: defining the organizations business mission. Define mission of the organization, top managements vision of why the firm exists, how it is different from other firms, and the place in the market it wants to be. A formal statement in an organization"s strategic plan that describes the overall purpose of the organization and what it intends to achieve in terms of its customers, products, and resources. Used to describe firms that develop short sighted visions of who they are: evaluating the environment: swot analysis.

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The difference between a company's strategy and a company's business model is that

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BUS 343 : bu343 ch2

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