STRATEGIC PLANNING

STRAT FOR SMALL POTATOES

1

What strategy believes that during the early stage, gaining a foothold in the market and getting the first products and sales are more important than maximizing profit? 

Strategy of effectiveness as a higher priority

2

Instead of trying to match a large competitor’s resources, businesses can look and adapt alternatives. This strategy is called?

Flexibility strategy

3

Give the 3 fundamental strategy for small business

1. Flexibility strategy

2. Strategy of effectiveness as a higher priority

3. Strategy of starting simple

SWOT'S THE DEAL?

1

Company A wants to expand but they do not have enough money to hire new employees. In a SWOT analysis, what is this lack of money?

Weakness

2

A chance offered by the external environment to significantly improve a firm's situation. 

Opportunity

3

Refers to a challenge posed by an unfavorable trend or development in the external environment. 

Threat

AVISALAAAA

1

Refers to the basic description of the fundamental nature, rationale, and direction of the firm.

Mission Statement

2

Refers to specific performance targets that the entrepreneurship hopes to accomplish.

Strategic objectives

3

Refers to the process of determining the primary objectives of the entrepreneurship and then adopting courses of action and allocating resources to achieve those objectives.

Strategic Planning