Business Management Essay
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Strategic Planning Process For Business Unit
Mission Statement: * Defining basic purpose or * Reason behind the existence of an Business
Peters Druckers classic questions * What is our business * Who is the customer * What is value to the customer * What will our business be * What should our business be
Every business unit set their own target goals. The …show more content…
Companies need to do a Opportunity Analysis in order to arrive in effectiveness and success probability. MOA is a prime tool to determine: i. the probability of successes ii. attractiveness of an opportunity Following is the Opportunity Matrix that can be used to analyze opportunity. Success probability
High Low Attractiveness High Low
* Here 1 determines opportunity that is High on Attractiveness as well as high on Success Probability. * 2 on the other hand is opportunity that is High on Attractiveness and Low on Success Probability. * 3 determines opportunity that is Low on Attractiveness and High on Success Probability. * 4 on the other hand is case where Attractiveness is Low and even probability is very Low.
Case 4 should not be termed as opportunity as it has low attractiveness and even low success probability.
We need to understand that different companies at different point in time may opt different opportunities and marketing strategies. Its important to understand that marketing opportunity collectively involves a thorough business and business environment analysis (Internal Analysis and External