Strategic Planning Business Definition

Strategic Planning Business Definition-69
The experience curve refers to a hypothesis that unit production costs decline by 20–30% every time cumulative production doubles.This supported the argument for achieving higher market share and economies of scale.' and to make sure it is carefully studied and correctly answered." He wrote that the answer was determined by the customer.

Alfred Chandler recognized the importance of coordinating management activity under an all-encompassing strategy.

Interactions between functions were typically handled by managers who relayed information back and forth between departments.

Ansoff wrote that strategic management had three parts: strategic planning; the skill of a firm in converting its plans into reality; and the skill of a firm in managing its own internal resistance to change.

Bruce Henderson, founder of the Boston Consulting Group, wrote about the concept of the experience curve in 1968, following initial work begun in 1965.

Running the day-to-day operations of the business is often referred to as "operations management" or specific terms for key departments or functions, such as "logistics management" or "marketing management," which take over once strategic management decisions are implemented.

Strategy has been practiced whenever an advantage was gained by planning the sequence and timing of the deployment of resources while simultaneously taking into account the probable capabilities and behavior of competition.

Corporate strategy involves answering a key question from a portfolio perspective: "What business should we be in?

" Business strategy involves answering the question: "How shall we compete in this business?

He examined the strategic process and concluded it was much more fluid and unpredictable than people had thought.

Because of this, he could not point to one process that could be called strategic planning.

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Comments Strategic Planning Business Definition

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