Strategic direction describes how a business plans to get where it wants to be in the __.
long term
__ is a decision making tool published in the Harvard Review in 1957.
Ansoff's Matrix
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Flashcards based on lecture notes about strategic direction in business, Ansoff's matrix, and financial decision making.
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Strategic direction describes how a business plans to get where it wants to be in the __.
long term
__ is a decision making tool published in the Harvard Review in 1957.
Ansoff's Matrix
Trying to take a greater share of an existing market with an existing product is known as __.
Market Penetration
Extending existing products within existing markets is known as __.
Product Development
Finding or creating new markets for existing products is known as __.
Market Development
Creating new product lines or ranges for sale in new markets is known as __.
Diversification
Focusing attention on maintaining market share is known as __.
Consolidation
Selling off all or parts of the business is known as __.
Withdrawal
Market development involves the extension of a product into __.
new markets / areas
__ may undergo substantial modifications or additions to maintain a competitive position.
Product development
Moving into new but related markets or into new unrelated markets is known as __.
Diversification
Profits and efficiency gains are examples of __ of decision making.
Financial benefits
__ and increased market share are examples of non-financial benefits of decision making.
Productivity
Environmental impact and carbon emissions reduction are __ of decision making.
Public benefits