COMM-2036EL Chapter Notes - Chapter 2: Boston Consulting Group, Strategic Planning, Cash Flow

• School: Laurentian
• Department: Commerce and Administration
• Course: COMM-2036EL
• Professor: Najam Saqib

Document Summary

In this chapter, we dig deeper into steps two and three of the marketing process. Strategic planning the process of developing and maintaining a strategic fit between the organization"s goals and capabilities and its changing marketing opportunities. Strategic planning sets the stage for the rest of the planning in the firm. Annual plans & long-range plans deal with the company"s current businesses and how to keep them going. Strategic plans involve adapting the firm to take advantage of opportunities in its constantly changing environment. The steps of strategic planning are as follows: An organization exists to accomplish something, and this purpose should be clearly stated. What should our business be: successful companies continually raise these questions and answer them carefully and completely, a clear mission statement acts as an invisible hand that guides people in the organization. Mission statement a statement of the org"s purpose (what it wants to accomplish in the larger environment)