Unit strategic planning is basically concerned with how best to manage in а given situation, i.e. а given unit within the parameters of existing opportunities and markets, as also the possibilities for future market and sub-product development over the next ten years. Overall position is determined by corporate office (Reuters pp.37), and the unit is responsible for carrying it out. Financial expectations are projected, and these form an integral part of the corporate strategic plan.
Market standing vis-his competition must by analyzed, as must any inconsistencies in consumer perceptions, and how to combat them. Short term product augmentation schemes or long term ‘real’ product changes must be presented for approval, as must information on trends in the market that would necessitate the changes. The divisional strategic plans are а collation of unit sales plans, in terms of existing markets and current product performance (Shuey pp.39. ), now and in the future.
The corporate strategic plan then gets detailed financial inputs from unit sales plans and directional options from its divisions- information which tells it about the possibilities of future products and markets, as well as approximate resources that will be available. The product portfolio is analyzed, growth opportunities defined, as is the potential for developing current product lines. The position of the company is appraised; distribution channels assessed, resources allocated, and last but not least, new investments in related business areas identified.
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