MGT 3200 Chapter : Strategic Planning T1 4
Document Summary
The focus of strategic planning is on maintaining a positive relationship with the organization"s external environment. A term "strategy" is just another name for an organization"s grand plan. Strategic planning is based on a swot analysis. Specify the range of markets you want to do business in. Strategy should specify how you are going to spend your money to achieve your goals. Something that your good at that sets you apart. The different aspects of your strategy make each other better. It focuses on what businesses does the organization want to own b. It focuses on how do we want to compete in a market/industry. Business portfolio matrix approach - deals with both corporate and business level strategies i. ii. iii. This approach to strategy formulation involves 2 levels of strategy: corporate and business level. The corporate strategy is to own that mix of businesses that maximize market share and profitability.
