Mktg 3810 Chapter 2 – Flashcards
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_____ is the task of developing and maintaining an overall company strategy for long-run survival and growth.
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Strategic Planning
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_____ involves adapting a firm to take advantage of opportunities in its constant changing environment.
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Strategic Planning
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Starbucks has an annual plan in place to deal with the company's current strategic business unit (SBUs) and their operations. However, as a growth-oriented firm, Starbucks is interested in both domestic and international markets. This requires Starbucks to constantly monitor the environment and adapt to the opportunities with which it is presented. To take advantage of its constantly changing environment, Starbucks needs a _________ in place.
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Strategic Plan
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The first step in strategic planning is to ______.
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define the company mission
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Which of the following are a step in the strategic planning process?
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setting company objectives and goals designing the business portfolio defining the company mission planning marketing and other functional strategies
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The management of an organization should reexamine the organization's mission statement______.
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when the organization is drifting
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Which of the following provides an answer to these question: What is our business? Who are our customers? What do our customers value? What should our business be?
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mission statement
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A vendor for Ford Motor Company received the following message from one of Ford's marketing managers: "As we move forward during the 21st
mission statement
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mission statement
