BOH4M UNIT REVIEW

Simon Sinek discuss the importance of planning and why planning should be a ___ process

• continuous

• contingency

• once-a-year

Match the description of planning porocess with the correct step.

In this stage, strategies are generated. 

• Definition

• position

• Option

• Implementation

Match the description of planning porocess with the correct step.

In this stage, leaders and managers will put into action the strategy or strategies

• Definition

• position

• Option

• Implementation

Match the description of planning porocess with the correct step.

Business leaders need to determine where they stand in relation to their goals

• Definition

• position

• Option

• Implementation

Match the description of planning porocess with the correct step.

Define your objectives.

• Definition

• position

• Option

• Implementation

A ___ is a company's description of it's main purpose. It states why the company exists and what it is trying to accomplish.

• mission statement

• core value

• vison

• goal

Characteristics of Mission Statement:

• Vision

• Broad scope

• Inspirational

• Unique position

In the corporate strategic planning, leaders should consider:

• Business reach

• Competition

• product budget

• business unit budget

Retrenchment strategy includes:

• Divestment

• Liquidation

• Vertical Integration

• Diversification

In BCG Matrix, ___ is a business unit that has a large market share in a fast growing industry.

• Cash cow

• Star

• Problem child

• Dog