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vities occur at the business unit, product, and market levels, and include: ? Defining the purpose and mission ? Setting objectives and goals ? Designing the business portfolio ? Developing detailed marketing and departmental plans 2 6 Strategic Planning ? Mission statements should . . . ? serve as a guide for what the anization wants to acplish. ? be “marketoriented” rather than “productoriented”. ? be neither too narrow, nor too broad. ? fit with the market environment. ? be motivating. 2 7 Strategic Planning ?Mission statements guide the development of objectives and goals. ?Objectives are developed at each level in the anization hierarchy. ?Strategies are developed to acplish these objectives. 2 8 Strategic Planning ? Business portfolio: “the collection of businesses and products that make up the pany.” ?Designing the business portfolio is a key element of the strategic planning process. 2 9 Strategic Planning ? Step 1: Analyze the current business portfolio ? Step 2: Shape the future business portfolio ? Identify strategic business units (SBUs) ? Assess each SBU: ? The BCG growthshare matrix