BUS 343 Chapter Notes - Chapter 2: Profit Margin, Grey Market, Business Cycle

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Jason Ho

Document Summary

Explain how businesses develop plans at different levels within the organization. An ongoing process of making decisions that guide the firm both in the short term and for the long term. Includes decisions that guide the entire organization or its business units. Document that describes the marketing environment, outlines the marketing objectives and strategy, and identifies who will be responsible for carrying out each part of the marketing strategy. Managerial decision process that matches an org"s resources (manufacturing facilities, financial assets, and skilled workforce) and capabilities to its market opportunities for long-term growth and survival. Can occur at two different levels: overall corporate strategic planning, which determines the organization"s different business and product pursuits. Includes developing the mission statement, assessing the internal and external environment, setting objectives, establishing the business portfolio, and developing growth strategies. What a firm is going to do to reach an objective.