Learning Objectives

5-1. Describe how strategic planning differs from operational planning.
5-2. Explain the reason for conducting an industry, competitive, and company situation analysis.
5-3. State the criteria for an effectively written objective by identifying must and want criteria.
5-4. Discuss corporate-level strategies in terms of the four grand strategies and the three growth strategies.
5-5. Summarize the three business-level adaptive and competitive strategies.
5-6. Identify strategies for short-range operational planning.
5-7. Describe the value of a time log analysis.
5-8. Explain the importance of implementing and controlling strategies.