![]() ![]() ![]() It is marred by the fact that it is difficult to execute, time consuming, and costly. The growth share matrix divides up subdivisions of a company by stars, which are high growth, high profit, cash cows, which are low growth, high profit, question marks, which are low profit, high growth, and dogs, which are low growth, low profit. ![]() The Boston Consulting Group arranges SBU's based on the growth share matrix when performing portfolio analysis. The role marketing plays in strategic planning is to create a mission statement that addresses consumer wants, however marketing plays a role in each part of strategic planning.Ģ. The fourth step is creating functional [arts, which means that a company must have all its sectors such as marketing, finance, etc. focused on the same plan of action. Creating a business portfolio is the third step here the company chooses which sections of the company will be the most profitable and focuses on them. The second step, setting goals, is when a company creates objectives for themselves to meet. The first of the four steps of strategic planning is defining the companies missions and objectives, which involve creating a mission statement, choosing what to sell, and establishing who you cater to. Strategic Planning is the process of developing and maintaining a strategic fit between a company's goals and capabilities and its changing market opportunities. ![]()
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