A clear mission statement acts as an hand” that p. 41 “invisible guides people in the organization. Chipotle A market-oriented mission statement defines the business in p. 42 terms of satisfying basic customer needs. Table 2.1: Business Management should making its mission too narrow or Definitions too broad. Missions should be realistic, specific, fit the market environment, based on the company’s distinctive competencies, and motivating. Assignments, Resources Use here Critical Thinking Exercise 2 Use here Web Resource 3 p. 42 Setting Company Objectives and Goals PPT 2-6 The company’s mission needs to be turned into detailed supporting objectives for each level of management. p. 43 The mission leads to a hierarchy of objectives, including Ad: Heinz business objectives and marketing objectives. Marketing strategies and programs must be developed to support these marketing objectives. p. 43 Designing the Business Portfolio Chapter Objective 2 PPT 2-7 A business portfolio is the collection of businesses and p. 43 products that make up the company. Key Term: Business Portfolio The best portfolio is the one that best fits the company’s strengths and weaknesses to opportunities in the environment. Analyzing the Current Business Portfolio p. 43 Key Term: Portfolio The activity in strategic planning is business portfolio Analysis analysis, whereby management evaluates the products and businesses making up the company. Assignments, Resources Use here Additional Project 1 Use here Think-Pair-Share 1 PPT 2-8 p. 44
A clear mission statement acts as an “invisible hand” that guides people in the organization. A market-oriented mission statement defines the business in terms of satisfying basic customer needs. Management should making its mission too narrow or too broad. Missions should be realistic, specific, fit the market environment, based on the company’s distinctive competencies, and motivating. p. 41 Chipotle p. 42 Table 2.1: Business Definitions Assignments, Resources Use Critical Thinking Exercise 2 here Use Web Resource 3 here p. 42 PPT 2-6 p. 43 PPT 2-7 Setting Company Objectives and Goals The company’s mission needs to be turned into detailed supporting objectives for each level of management. The mission leads to a hierarchy of objectives, including business objectives and marketing objectives. Marketing strategies and programs must be developed to support these marketing objectives. Designing the Business Portfolio A business portfolio is the collection of businesses and products that make up the company. The best portfolio is the one that best fits the company’s strengths and weaknesses to opportunities in the environment. Analyzing the Current Business Portfolio The activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses making up the company. p. 43 Ad: Heinz Chapter Objective 2 p. 43 Key Term: Business Portfolio p. 43 Key Term: Portfolio Analysis Assignments, Resources Use Additional Project 1 here Use Think-Pair-Share 1 here PPT 2-8 p. 44
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