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21 Cards in this Set

  • Front
  • Back
A key to developing an effective business plan
Comprehensive, in depth research, without adequate research, your plan will come across as vague or shallow and anyone reviewing your plan will wonder if you even know what your talking about.
Hierarchical nature of the three level of business planning
Strategic plans drive functional plans which in turn drive operational plans
Strategic Business Units (SBU)
Individual units within the firm that operate like seperate businesses, with each having its own mission, business objectives, resources, managers, and competitors
To be effective?
objectives need to be specific, measurable, and attainable
Marketing Control
process that entails measuring actual perfomance, comparing this performance to the established marketing objectives, and then making adjustments to the strategies or objectives on the basis of this analysis
Corporate Culture
set of values, norms, and beliefs that influence the behavior or everyone in the org.
Common ideas that include in leaderships definitions
exerting influence, motivating and inspiring, helping others realize their potential, leading by example,selflessness, making a difference.
Strategy-Market Penetration
Seek to increase sales of existing products to existing markets
Strategy-Market Development
Introduce existing products to new markets
Strategy-Product Development
Create growth by selling new products in existing markets
Emphazise new products and new markets to achieve growth
Internal environment
all controllable elements insidee a firm that influence how well the firm operates
situation analysis
second step in strategic planning, to assess the firm's internal and external environments
external environment
uncontrollable elements outside an organization that may affect its performance either positively or negatively
SWOT analysis (Strength, Weaknesses, Opportunities, Threats)
analysis of an organization's strengths weaknesses and the opportunities and threats in its external environment
BCG growth-market share matrix
portfolio analysis model developed by the Boston Consulting Group that asses the potential of successful products to generate cash that a firm can then use to invest in new products--firm can examine its portfolio of different products or SBU's
SBU's whose products have a dominant market share in high-growth markets--High Market Growth Rate and high Relative Market Share
Question Marks
SBU's whose products have a low market share in high-growth markets--High Market Growth Rate and Low Relative Market Share
Cash Cows
SBU's whose products have a dominant market share in a low-growth market--Low Market Growth Rate and High Relative Market Share
SBU's nobody wants--Low Market Growth Rate and Low Relative Market Share
Action Plan Template
Title, Purpose, Description, Responsibility, Time Line, Budget, Measurement and Control