What is Strategic Plannig?

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Strategic Planning

Each company must find the game plan for long-run survival and growth that makes the most sense given its specific situation, opportunities, objectives, and resources. This is the focus of strategic Plannings.

"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 rest of the planning in the form. Companies usually prepare annual plans, long-range plans, and strategic plans. The annual and long-range plans deal with the company's current businesses and how to keep them going. In contrast, the strategic plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.

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The Boston Consulting group (BCG) Approach

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The Boston Consulting Group Approach "A portfolio-planning method that evaluates a company's strategic business units in terms of their market growth rate and relative market share. SBUs are classified as stars, cash cows, question marks, or dogs". Using the Boston Consulting Group (BCG) approach, a company classifies all its SBUs according to the growth-share matrix.
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