Question

Evaluating the data collected from environmental analysis, the corporate executives of F&S Pharma Inc. realized that it was the right time to expand the business. The company's vision was accordingly adjusted from "To Be the Best in the Pharmaceutical Industry" to "To Make Good Health Accessible to Everyone around the Globe." To support the new vision, the executives decided that the company would first enter the Asian market where its growth potential would be huge. To further support these decisions, the general managers of different SBUs and the functional managers formulated their own strategies. Which of the following approaches to the development of strategy does this best illustrate?
A.Reverse mentoringB. Top-down strategic planningC. Bottom-up strategic approachD. Scenario planning

Answer 1

Answer:

Top-down strategic planning.

Explanation:

There are two methods of strategic planning:

-Bottoms up approach.

-Top down approach. It is the major activity of top management in planning based on the analysis of the total market conditions and analysis.

The company directives and goals flow down from the top to subordinates below. Unifies a company behind one purpose, direction, command and standard, dictated from above and spread throughout the organization.

It allows management to divide a project into steps, and then into still smaller steps. This continues until the steps can be studied, due-dates can be accurately assigned, and then parts of the project can be assigned to an employee.