Business Management Essay

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Strategic Planning For Business Unit The Strategic Planning for Business Unit is briefly sketched as below:

External Environ-ment

Mission Stateme-nt
Strategies formulat-ion
Program formulat-ions
Goals formulat-ion
Feedback and Control
Internal Environ-ment

SWOT Analysis

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
Goals Formulation:
Every business unit set their own target goals. The
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Market Opportunity Analysis:
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

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