18 Questions
What is the purpose of a corporate strategic plan in an organization?
To guide the whole enterprise and make decisions on resource allocations.
What managerial process does Market-Oriented Strategic Planning involve?
Developing and maintaining a viable fit among the organization's objectives, skills, and resources.
What is the first step in the Strategic Planning Process as mentioned in the text?
Preparing a mission statement.
Why is a Mission Statement essential for an organization?
It guides in effectively establishing objectives and formulating strategies.
What do divisions and business units prepare within the framework of a corporate strategic plan?
Business unit strategic plans.
Which activity is NOT part of Corporate Planning based on the text?
Creating marketing campaigns.
What defines the scope of a business according to the text?
The products and markets it chooses to engage with
Which type of diversification strategy seeks new products that have technological or marketing synergies with existing product lines?
Concentric diversification
What does Ansoff's Product/Market Grid help in defining?
Diversification strategies
What does Customer Value Proposition refer to according to the text?
The product/service offerings relevant to customers
In horizontal diversification, what is the main focus when searching for new products?
Products appealing to current customers
What does conglomerate diversification seek according to the text?
New businesses unrelated to current technology, products, or markets
What is the main difference between a mission statement and a vision statement?
A mission statement focuses on 'what' and 'how,' while a vision statement focuses on 'why.'
In crafting a good mission statement, what is one of the emphasized characteristics?
Be short, memorable, and meaningful
What is one of the roles of vision and mission statements in an organization?
Project a sense of worth and intent
According to Michael Porter, how does he define strategy?
Deliberately choosing a different set of activities to deliver a unique mix of value
What are some activities involved in corporate planning as per the text?
Defining the corporate vision/mission and assigning resources to SBUs
What does a good mission statement stress, according to the text?
Major policies and values
Learn about the strategic marketing management process outlined by Gener T. Cueno Mngt. Department, CEMDS MKGT 80. Understand how organizations carry out strategic planning, the steps involved in strategic marketing management, and how to effectively manage the marketing process.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
