MGMT100 Lecture Notes - Lecture 5: Strategic Planning
Document Summary
Week 5 marketing strategy to create customer value. Business planning is an ongoing process of making decisions that guide the company both in the short term and the long haul. Planning identifies and builds on a company"s strengths, and it helps managers at all levels to make informed decisions in a changing business environment. The business plan sets the direction for the marketing plan. There are three levels of the business plan: Strategic planning is the managerial decision process that matches the company"s resources and capabilities to its market opportunities for long-term growth. Operational planning focuses on the day-to-day execution of the functional plans and includes detailed annual, semi-annual or quarterly plans. Business planning is therefore an activity that integrates the organisation"s strategic, functional, and operational plans. Many large companies have become multi-product companies with self- contained divisions organised around products or brands. These self-contained divisions are called strategic business units (sbus) .
