Strategy is developed by the visionary chief executive in entrepreneurial mode of strategic management. In the entrepreneurial mode, strategy is developed mainly by a strong visionary chief executive who actively searches for new opportunities, is heavily oriented towards growth and is willing to make bold decisions or to shift strategies whenever necessary.
Stability strategy is a corporate level strategy. A stability strategy refers to a strategy by a company where the company stops the expenditure on expansion, in other words it refers to situation where company do not venture into new markets or introduce new products.
What are the means by which long term objectives will be achieved?
Strategies are the means by which long term objectives will be achieved. Business strategies may include geographic expansion, diversification, acquisition, product development, market penetration, retrenchment, divestiture, liquidation, and joint venture.
Marketing strategy is a ___________ type of strategy
Marketing strategy is a functional strategy type of strategy. Functional Strategy is the strategy or organisational plan adopted by each functional area, viz. marketing, production, finance, human resources and so on, in line with the overall business or corporate strategy, to achieve organisational level objectives.
When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit
When an industry relies heavily on government contracts, Political forecasts can be the most important part of an external audit. Political forecasting provides the contexruulity needed for decision-making and for forecasting 'non-political' trends.
A possible and desirable future state of an organization is called:
A possible and desirable future state of an organization is called Vision. Vision is a future-oriented concept of the business. Forming a strategic vision is an exercise in thinking about where a company needs to head to be successful.
Question mark symbolize Remain Diversified in BCG matrix. The BCG growth-share matrix is used to help the company decide what it should keep, sell, or invest more in. The BCG growth-share matrix breaks down products into four categories: dogs, cash cows, stars, and “question marks.”
Selling all of a companys assets in parts for their tangible worth is called:
Selling all of a companys assets in parts for their tangible worth is called Liquidation. Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.
Cash Cows symbolize Stable in BCG matrix. Cash cows are the leaders in the marketplace and generate more cash than they consume. These are business units or products that have a high market share but low growth prospects.
The BCG matrix is based on Industry growth rate and relative market share. BCG matrix is a framework created by Boston Consulting Group to evaluate the strategic position of the business brand portfolio and its potential.