Assignment 5
Please briefly answer the following questions:
1. How does planning affect the success of a business?
2. How are mission statements, goals, objectives, and plans related?
3. What are the purposes of strategic, tactical, operational, and contingency planning? In what situation would an organization use each?
4. How can managers make planning efforts more effective?
5. What is the purpose of strategic planning?
7. Why is it important to assess the internal and external environments in strategic planning? What four factors are assessed?
8. What is the difference between corporate-level strategies for growth, retrenchment, and stability?
9. What is the purpose of the BCG Growth-Share Matrix in the development of business-level plans?
10. What are the five functional-level areas of planning? What needs to be considered in each area?
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