A new product or an old product entering a new market normally adapts to compete with a similar product in the market. The owner or the manufacture of such product often go for a market survey to determine the size and target market of such product. The market survey helps them to make changes such as price reduction, logo change or change in packaging, to beat competing products.
<em>Sandra researched all similar products that can compete with her idea, this will help her idea to adapt when it finally enters the market as a product. </em><em>This illustration is a case of market adaptation.</em>
As a business person planning to open a new small business, you know that the business plan should not contain pages and pages of detailed facts and figures.
It is true that the goal received by regional manager Farrah, to reduce the company's costs in the next three years corresponds to an example of a strategic objective.
<h3 /><h3>Strategic planning</h3>
It corresponds to a document where the course of actions that will cover the medium and long term organizational are detailed so that the stipulated objectives and goals are achieved.
Therefore, the strategic objectives of a company will be contained in the strategic planning, and can be understood as the definition of the results that it intends to achieve in a period of time, to increase the vision and the organizational results.
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