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What is strategy according to H. Igor Ansoff?
A set of rules for making decisions.
What is the objective of strategy?
To achieve long-term goals.
What does a long-term orientation mean?
Thinking about future growth.
What does strategic analysis of the environment examine?
The market, competition, and opportunities.
What role does strategy play in decision-making?
To guide the organization’s decisions.
What defines the product–market scope?
The products and target markets.
What are Ansoff’s four growth strategies?
Penetration, product development, market development, and diversification.
What does synergy mean in a strategy?
Coordinated work across departments.
Why must a strategy be flexible?
To adapt to changes.
What is the Ansoff Matrix used for?
To plan business growth strategies by analyzing products and markets.