1-How does strategic planning differ from an annual planning? 2-What do we mean by ‘defining or redefining...

60.1K

Verified Solution

Question

General Management

1-How does strategic planning differ from an annualplanning?
2-What do we mean by ‘defining or redefining the business frommarketing point of view?’ Give examples and explain it.
3-What are the perquisites for planning? Explain and giveexamples.
4-Explain the Product/Market expansion grid and it its purposes.Give examples for each case.

Answer & Explanation Solved by verified expert

3.9 Ratings (690 Votes)

Answer 1 STRATEGIC PLANNING DEFINITION A strategy is a comprehensive plan to achieve the organizational goal It is generally formulated by top level of autorities so that correct decision can be taken to use resources in the best possible manner and efficiently so that less wastage of resources can happen ANNUAL PLANNING DEFINITION They are also called Action or work pplanning Annual planning refers to an organizations financial planning for the whole year They are basicallly future planningwhich a company does in startingof the year DIFFERENCE BETWEEN STRATEGIC PLANNING AND ANNUAL PLANNING IS AS FOLLOWS STRATEGIC PLAN 1 It is usually for 35 yeras As goals will take multiple years to achieve 2The strategic plan is shaped by See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member