The following points highlight the three levels of strategic planning process. The levels are:- 1. Business Unit Level Planning 2. Product Level Planning 3. Corporate Level Planning. Level # 1. Business Unit Level Planning: When a company produces one product or a set of products so closely related that they belong to the same industry, we can think of strategic [...]
The following points highlight the three main types of plans that are made to achieve the objectives through the company policies. The plans are:- 1. Strategic Plans 2. Intermediate-Range Plans 3. Short-Range Plans. Type # 1. Strategic Plans : They determine both the major objectives of an organisation and the policies and strategies to achieve those objectives. Strategic plans are [...]
The following points highlight the two major issues of product classification of a firm. The issues are: 1. Competing Products 2. Market/Demand Classification for Products. Issue # 1. Competing Products: They can be classified into one of three categories as follows: (i) A breakthrough product: This offers either a radical performance advantage over competition, a drastically lower price or, in [...]