bu343 ch2

3 Pages
Unlock Document

Simon Fraser University
Business Administration
BUS 343

CHAPTER 2PART I Plan Well and ProsperBusiness Planning occurs on a annual basis at 3 levels StrategicOperational MarketingStrategic Planninga managerial decision process that matches an organizations resources and capabilities to its market opportunities for longterm growth and survival Focus on firms ability to respond to changes and opportunities in the environment Top level management team CEO president 35 years Occurs at 2 different levelscorporate entire business and individual strategic business units SBU Does not include details of marketing mix in marketing planPART II Strategic Planning Building the business4 key stages in top level strategic planning1 Defining the Organizations Business Mission define mission of the organization top managements vision of why the firm exists how it is different from otherfirms and the place in the market it wants to beMission Statement a formal statement in an organizations strategic plan that describes the overall purpose of the organization andwhat it intends to achieve in terms of its customers products and resourcesMarketing Myopiaused to describe firms that develop short sighted visions of who they are2 Evaluating the Environment Swot Analysis assessment of an organizations external and internal environmentsSWOT Analysisan anal
More Less

Related notes for BUS 343

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.