Meaning of Planning and Business Planning
Planning means deciding what needs to done in the future (today, next week, next month, next year, over the next couple of years, etc.) Planning helps in generating blueprints f...
Strategic intent refers to purposes for which the organization strives for. Senior managers must define “what they want to do” and “why they want to do”. “Why they...
Mission statement is typically focused on its present business scope– “who we are and what we do”; Mission is the reason to exist. It is an expression of the growth ambition ...
Business Definition: Business defines the business of the firm with respect to the customer needs, target markets, and alternative technologies. With the help of business definitio...
Decision making is a managerial process of selecting the best course of action out of several alternative courses of actions available for the purpose of achieving organizational g...
Fig. 3: Strategic Management Model The strategic management process can best be studied and applied using a model. Every model represents some kind of process. The m...
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