The document provides an overview of the Boston Consulting Group (BCG) matrix, which was developed in the 1970s as a portfolio planning model. It classifies businesses or products into four categories based on their market growth rate and relative market share: stars, question marks, cash cows, and dogs. Stars are high growth, high market share businesses that require heavy investment. Cash cows are low growth, high market share businesses that generate cash. Question marks are high growth, low market share businesses that require investment. Dogs are low growth, low market share businesses that use cash. The matrix is used to assess product profiles, cash demands, development cycles, and resource allocation decisions.
- Boston Consulting Group is a global management consulting firm founded in 1963 known for developing strategic planning concepts like the growth share matrix.
- It has over 6,200 employees in 87 offices worldwide and works with clients across various industries.
- Some of BCG's classic strategic concepts include the experience curve, rule of three and four, time-based competition, and the growth share matrix for portfolio planning and resource allocation.
- While the growth share matrix was influential, it received criticisms for being too simplistic for complex business environments. BCG advocates adapting the model through strategic experimentation.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
The document provides an overview of the BCG matrix, a portfolio analysis tool developed by the Boston Consulting Group in the 1970s. It outlines the history of BCG, defines key terms like market share and growth rate, describes the four categories in the BCG matrix (Stars, Question Marks, Cash Cows, and Dogs), and evaluates the benefits and limitations of using the BCG matrix to analyze a company's product portfolio.
The document discusses different levels of strategic management including corporate, business unit, functional, and single business unit levels. It also discusses strategic planning processes such as defining vision, mission, values, and developing strategies. Additionally, it covers the BCG matrix for classifying business units based on market growth and relative market share into stars, question marks, cash cows, and dogs. Finally, the key components of strategic planning like vision, mission, values, and strategies are defined.
This document provides an overview of key marketing concepts including the marketing concept, marketing environment, market research, demand forecasting, consumer and organizational buying behavior, marketing mix, product life cycle, new product development, distribution, promotion, personal selling, and pricing decisions. It also compares selling and marketing orientations and discusses factors influencing marketing communications.
The document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals and objectives. There are three main steps: planning, execution, and monitoring. The document outlines different classes of decisions, levels and types of strategies, and strategic models like Porter's generic strategies, BCG matrix, and Wheelen & Hunger's strategic model. It also discusses strategic management benefits like improved understanding of competitors and enhanced awareness of threats. Overall, the document provides an overview of key concepts in strategic management.
- Boston Consulting Group is a global management consulting firm founded in 1963 known for developing strategic planning concepts like the growth share matrix.
- It has over 6,200 employees in 87 offices worldwide and works with clients across various industries.
- Some of BCG's classic strategic concepts include the experience curve, rule of three and four, time-based competition, and the growth share matrix for portfolio planning and resource allocation.
- While the growth share matrix was influential, it received criticisms for being too simplistic for complex business environments. BCG advocates adapting the model through strategic experimentation.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
1. The document discusses the Boston Consulting Group (BCG) Matrix, a portfolio planning model created by BCG in 1970.
2. The BCG Matrix classifies business units into four categories based on their market share and market growth rate: Stars, Cash Cows, Question Marks, and Dogs.
3. Stars are high market share business units in high growth markets. Cash Cows are high market share units in low-growth markets. Question Marks have high growth but low market share. Dogs have low growth and market share.
The document provides an overview of the BCG matrix, a portfolio analysis tool developed by the Boston Consulting Group in the 1970s. It outlines the history of BCG, defines key terms like market share and growth rate, describes the four categories in the BCG matrix (Stars, Question Marks, Cash Cows, and Dogs), and evaluates the benefits and limitations of using the BCG matrix to analyze a company's product portfolio.
The document discusses different levels of strategic management including corporate, business unit, functional, and single business unit levels. It also discusses strategic planning processes such as defining vision, mission, values, and developing strategies. Additionally, it covers the BCG matrix for classifying business units based on market growth and relative market share into stars, question marks, cash cows, and dogs. Finally, the key components of strategic planning like vision, mission, values, and strategies are defined.
This document provides an overview of key marketing concepts including the marketing concept, marketing environment, market research, demand forecasting, consumer and organizational buying behavior, marketing mix, product life cycle, new product development, distribution, promotion, personal selling, and pricing decisions. It also compares selling and marketing orientations and discusses factors influencing marketing communications.
The document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals and objectives. There are three main steps: planning, execution, and monitoring. The document outlines different classes of decisions, levels and types of strategies, and strategic models like Porter's generic strategies, BCG matrix, and Wheelen & Hunger's strategic model. It also discusses strategic management benefits like improved understanding of competitors and enhanced awareness of threats. Overall, the document provides an overview of key concepts in strategic management.
Product Portfolio Strategies, BCG Matrix, How to make a BCG Matrix, Apple case study, BCG AND PLC, Merits and Demerits of BCG Matrix, GE Matrix, Merits and Demerits of GE Matrix
Here are the answers to your quiz questions:
1. Sustainable competitive advantage refers to a firm's ability to perform better than its competitors on a consistent basis over the long run. Firms create sustainable competitive advantage by developing core competencies or distinctive capabilities that are valuable, rare, imperfectly imitable and non-substitutable. This allows them to satisfy customer needs better than competitors.
2. Strategic marketing involves achieving and sustaining a competitive advantage in the marketplace over the long run. It is the process of analyzing market opportunities, selecting target markets, and developing and maintaining successful relationships with customers in selected markets.
3. The strategic marketing process involves:
- Situation analysis to understand the external and internal environment
To understand strategic planning, its linkage to strategic marketing and marketing management
To know how sales strategy is developed from marketing strategy
To learn basic terms used in forecasting, forecasting approaches, and methods of sales forecasting
To understand purposes and the process of sales budget
The document discusses various stages of business growth and strategies for growing a business. It outlines four stages of business growth: start up, initial growth, rapid growth, and continuous growth. It also discusses product lifecycles and different growth strategies businesses can employ, including market penetration, new products, alternative channels, diversification, integrative strategies, and horizontal/backward/forward integration. The key strategies suggested for increasing market share, sales and profits are to penetrate existing markets further, develop new products for existing and new customers, and pursue alternative distribution channels.
The document provides guidance on how to write an effective marketing plan in 3 stages:
1) Research and planning to understand customers and opportunities.
2) Developing objectives and strategies to exploit opportunities identified in stage 1.
3) Determining actions, measurements, and controls to implement strategies and track success.
The plan should be a written document that provides direction and is referred to throughout the year.
Tips & tools to help get traction with execution of strategyRussell Cummings
This interactive webinar explores approaches to setting up your strategy and plans for effective execution, and discover some simple tools and tips to help keep you accountable and improve the likelihood of achieving success.
This document provides guidance on creating an effective communications strategy and marketing plan. It outlines the key elements to include: business context by understanding goals, timelines, and key metrics; thorough research on the industry, customers, competitive landscape and external factors; well-defined objectives that are measurable and aligned with goals; appropriate programming and content ideas to achieve the objectives; and a plan to evaluate success by whether the objectives were met. The overall message is that an integrated strategy based on research is needed to create an effective campaign that achieves the client's goals.
This document provides an overview of strategic management for a PGDM course. It discusses the importance and process of strategic management. Regarding importance, it notes strategic management helps organizations identify opportunities, prepare for the future, be action-oriented, strengthen structure, and gain competitive advantages. The strategic management process involves goal setting, environmental scanning, strategy formulation, implementation, and evaluation. It also discusses different levels of strategy, approaches to strategic management, and organizational configurations.
The document discusses various aspects of new product development including the 5 stages consumers go through when adopting a new product (awareness, interest, evaluation, trial, adoption). It also describes the different categories of adopters (innovators, early adopters, early majority, late majority, laggards) based on their willingness to try new products. Finally, it provides an overview of tools used to analyze product portfolios like the BCG matrix which categorizes products as stars, cash cows, question marks or dogs based on market growth and market share.
The document provides an overview of strategic marketing planning concepts. It discusses strategic planning processes including defining an organizational mission, setting objectives, and designing business portfolios. Methods for analyzing business portfolios such as the BCG matrix and GE planning grid are also outlined. The document then covers growth strategies like market penetration and product development as well as competitive strategies like market leadership. Finally, it describes key components of a marketing plan such as situation analysis, goals and objectives, marketing strategies, implementation, and evaluation.
Portfolio management involves analyzing a company's current business portfolio, known as strategic business units (SBUs), to determine which should receive more or less investment and developing strategies to add new products or businesses. Common tools for analyzing SBUs include the Boston Consulting Group growth-share matrix and McKinsey's nine-box matrix, which assess businesses based on factors like market growth and share. However, these tools have limitations and don't support future planning. A company must also consider how to connect with customers through market segmentation, targeting, and positioning. Developing the right portfolio requires balancing factors like risk, return, capabilities, maturity, and organizational structure. [END SUMMARY]
What is Strategy from the Perspective of Managementkingmiru
This document provides an overview of strategy and strategic management. It defines strategy as management's plan to achieve long-term organizational goals by configuring resources and competencies. The three key strategic questions are where the organization currently stands, where it wants to go, and how it will get there. A strategy consists of competitive moves and approaches used to please customers, compete successfully, and achieve objectives. Crafting and executing the right strategy is the core responsibility of management and the greatest test of their excellence.
This document discusses different types of strategies at various levels of an organization. At the corporate level, strategies include growth, stability, and retrenchment. Business unit strategies focus on cost leadership, differentiation, or focus. Functional strategies support business unit strategies. The document also discusses intensive growth strategies like market penetration, market development, and product development. Integrative strategies involving vertical or horizontal integration are presented. Defensive strategies include joint ventures, retrenchment, divestment, and liquidation. Michael Porter's generic strategies of cost leadership, differentiation, and focus are also summarized.
planning , sales forecasting and budgetingSunil Chichra
This chapter discusses strategic planning, sales forecasting, and budgeting. It covers key topics like developing sales strategy from marketing strategy, approaches to sales forecasting, common forecasting methods, and the purpose and process of creating a sales budget. Marketing plays an important role in strategic planning by providing customer insights and developing competitive advantages. Sales forecasts can be created using qualitative methods like executive opinions or quantitative methods like regression analysis. The sales budget estimates sales volumes and expenses to help with planning, coordination, and control.
1. Market segmentation, product positioning, acquiring needed capital, and developing financial projections are central to successful strategy implementation.
2. Market segmentation involves dividing a market into subsets according to customer needs and buying habits. Product positioning involves comparing products to competitors on important dimensions.
3. Acquiring capital requires determining the best sources such as debt, equity, or a combination. Financial projections allow an organization to examine the results of various actions through pro forma financial statements and budgets.
This document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals. There are three main classifications of decisions: corporate, business, and functional. The document also discusses various strategic management frameworks and tools, including Porter's generic strategies, the BCG matrix, SWOT analysis, and the Wheelen and Hunger strategic management model. Finally, it outlines the benefits of strategic management for organizations.
The document discusses various marketing metrics and tools used for evaluating marketing performance, including gap identification and bridging tools like the BCG matrix and Ansoff matrix. It explains how to conduct a gap analysis to identify differences between a company's current and desired performance. Strategies like market penetration, development, product development, and diversification are presented to close performance gaps through intensive, integrative, or diversification growth. Key metrics mentioned include sales, profit, market share, customer satisfaction, and reputation.
This document discusses various aspects of developing effective marketing plans and strategies, and ensuring proper implementation. It addresses questions about the relative importance of planning vs. implementation, how marketing structures and incentives should vary by business strategy, and factors to consider when restructuring an organization. Key points covered include defining elements of a good marketing plan, linking objectives and actions to specific timelines and responsibilities, and establishing controls and contingency plans to monitor progress.
Strategic marketing management involves analyzing internal/external factors, identifying opportunities, developing product-market strategies, allocating resources, and reconceptualizing plans. It guides an organization's mission through strategic processes to maximize marketing strategy. The key principles are specialization, differentiation, segmentation, and concentration. A strategic marketing manager identifies target markets, establishes objectives, analyzes indicators, and improves customer satisfaction through strategic planning. The strategic marketing management process involves creating a mission, analyzing the situation, designing a marketing plan, implementing the marketing mix, and controlling the strategy. Examples of effective strategic marketing include Spotify personalizing playlists, GoPro making user content sharing easy, and Amazon using proactive retargeting.
Product Portfolio Strategies, BCG Matrix, How to make a BCG Matrix, Apple case study, BCG AND PLC, Merits and Demerits of BCG Matrix, GE Matrix, Merits and Demerits of GE Matrix
Here are the answers to your quiz questions:
1. Sustainable competitive advantage refers to a firm's ability to perform better than its competitors on a consistent basis over the long run. Firms create sustainable competitive advantage by developing core competencies or distinctive capabilities that are valuable, rare, imperfectly imitable and non-substitutable. This allows them to satisfy customer needs better than competitors.
2. Strategic marketing involves achieving and sustaining a competitive advantage in the marketplace over the long run. It is the process of analyzing market opportunities, selecting target markets, and developing and maintaining successful relationships with customers in selected markets.
3. The strategic marketing process involves:
- Situation analysis to understand the external and internal environment
To understand strategic planning, its linkage to strategic marketing and marketing management
To know how sales strategy is developed from marketing strategy
To learn basic terms used in forecasting, forecasting approaches, and methods of sales forecasting
To understand purposes and the process of sales budget
The document discusses various stages of business growth and strategies for growing a business. It outlines four stages of business growth: start up, initial growth, rapid growth, and continuous growth. It also discusses product lifecycles and different growth strategies businesses can employ, including market penetration, new products, alternative channels, diversification, integrative strategies, and horizontal/backward/forward integration. The key strategies suggested for increasing market share, sales and profits are to penetrate existing markets further, develop new products for existing and new customers, and pursue alternative distribution channels.
The document provides guidance on how to write an effective marketing plan in 3 stages:
1) Research and planning to understand customers and opportunities.
2) Developing objectives and strategies to exploit opportunities identified in stage 1.
3) Determining actions, measurements, and controls to implement strategies and track success.
The plan should be a written document that provides direction and is referred to throughout the year.
Tips & tools to help get traction with execution of strategyRussell Cummings
This interactive webinar explores approaches to setting up your strategy and plans for effective execution, and discover some simple tools and tips to help keep you accountable and improve the likelihood of achieving success.
This document provides guidance on creating an effective communications strategy and marketing plan. It outlines the key elements to include: business context by understanding goals, timelines, and key metrics; thorough research on the industry, customers, competitive landscape and external factors; well-defined objectives that are measurable and aligned with goals; appropriate programming and content ideas to achieve the objectives; and a plan to evaluate success by whether the objectives were met. The overall message is that an integrated strategy based on research is needed to create an effective campaign that achieves the client's goals.
This document provides an overview of strategic management for a PGDM course. It discusses the importance and process of strategic management. Regarding importance, it notes strategic management helps organizations identify opportunities, prepare for the future, be action-oriented, strengthen structure, and gain competitive advantages. The strategic management process involves goal setting, environmental scanning, strategy formulation, implementation, and evaluation. It also discusses different levels of strategy, approaches to strategic management, and organizational configurations.
The document discusses various aspects of new product development including the 5 stages consumers go through when adopting a new product (awareness, interest, evaluation, trial, adoption). It also describes the different categories of adopters (innovators, early adopters, early majority, late majority, laggards) based on their willingness to try new products. Finally, it provides an overview of tools used to analyze product portfolios like the BCG matrix which categorizes products as stars, cash cows, question marks or dogs based on market growth and market share.
The document provides an overview of strategic marketing planning concepts. It discusses strategic planning processes including defining an organizational mission, setting objectives, and designing business portfolios. Methods for analyzing business portfolios such as the BCG matrix and GE planning grid are also outlined. The document then covers growth strategies like market penetration and product development as well as competitive strategies like market leadership. Finally, it describes key components of a marketing plan such as situation analysis, goals and objectives, marketing strategies, implementation, and evaluation.
Portfolio management involves analyzing a company's current business portfolio, known as strategic business units (SBUs), to determine which should receive more or less investment and developing strategies to add new products or businesses. Common tools for analyzing SBUs include the Boston Consulting Group growth-share matrix and McKinsey's nine-box matrix, which assess businesses based on factors like market growth and share. However, these tools have limitations and don't support future planning. A company must also consider how to connect with customers through market segmentation, targeting, and positioning. Developing the right portfolio requires balancing factors like risk, return, capabilities, maturity, and organizational structure. [END SUMMARY]
What is Strategy from the Perspective of Managementkingmiru
This document provides an overview of strategy and strategic management. It defines strategy as management's plan to achieve long-term organizational goals by configuring resources and competencies. The three key strategic questions are where the organization currently stands, where it wants to go, and how it will get there. A strategy consists of competitive moves and approaches used to please customers, compete successfully, and achieve objectives. Crafting and executing the right strategy is the core responsibility of management and the greatest test of their excellence.
This document discusses different types of strategies at various levels of an organization. At the corporate level, strategies include growth, stability, and retrenchment. Business unit strategies focus on cost leadership, differentiation, or focus. Functional strategies support business unit strategies. The document also discusses intensive growth strategies like market penetration, market development, and product development. Integrative strategies involving vertical or horizontal integration are presented. Defensive strategies include joint ventures, retrenchment, divestment, and liquidation. Michael Porter's generic strategies of cost leadership, differentiation, and focus are also summarized.
planning , sales forecasting and budgetingSunil Chichra
This chapter discusses strategic planning, sales forecasting, and budgeting. It covers key topics like developing sales strategy from marketing strategy, approaches to sales forecasting, common forecasting methods, and the purpose and process of creating a sales budget. Marketing plays an important role in strategic planning by providing customer insights and developing competitive advantages. Sales forecasts can be created using qualitative methods like executive opinions or quantitative methods like regression analysis. The sales budget estimates sales volumes and expenses to help with planning, coordination, and control.
1. Market segmentation, product positioning, acquiring needed capital, and developing financial projections are central to successful strategy implementation.
2. Market segmentation involves dividing a market into subsets according to customer needs and buying habits. Product positioning involves comparing products to competitors on important dimensions.
3. Acquiring capital requires determining the best sources such as debt, equity, or a combination. Financial projections allow an organization to examine the results of various actions through pro forma financial statements and budgets.
This document discusses strategic management. It defines strategic management as the continuous planning, monitoring, analysis and assessment necessary for an organization to meet its goals. There are three main classifications of decisions: corporate, business, and functional. The document also discusses various strategic management frameworks and tools, including Porter's generic strategies, the BCG matrix, SWOT analysis, and the Wheelen and Hunger strategic management model. Finally, it outlines the benefits of strategic management for organizations.
The document discusses various marketing metrics and tools used for evaluating marketing performance, including gap identification and bridging tools like the BCG matrix and Ansoff matrix. It explains how to conduct a gap analysis to identify differences between a company's current and desired performance. Strategies like market penetration, development, product development, and diversification are presented to close performance gaps through intensive, integrative, or diversification growth. Key metrics mentioned include sales, profit, market share, customer satisfaction, and reputation.
This document discusses various aspects of developing effective marketing plans and strategies, and ensuring proper implementation. It addresses questions about the relative importance of planning vs. implementation, how marketing structures and incentives should vary by business strategy, and factors to consider when restructuring an organization. Key points covered include defining elements of a good marketing plan, linking objectives and actions to specific timelines and responsibilities, and establishing controls and contingency plans to monitor progress.
Strategic marketing management involves analyzing internal/external factors, identifying opportunities, developing product-market strategies, allocating resources, and reconceptualizing plans. It guides an organization's mission through strategic processes to maximize marketing strategy. The key principles are specialization, differentiation, segmentation, and concentration. A strategic marketing manager identifies target markets, establishes objectives, analyzes indicators, and improves customer satisfaction through strategic planning. The strategic marketing management process involves creating a mission, analyzing the situation, designing a marketing plan, implementing the marketing mix, and controlling the strategy. Examples of effective strategic marketing include Spotify personalizing playlists, GoPro making user content sharing easy, and Amazon using proactive retargeting.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
বাংলাদেশের অর্থনৈতিক সমীক্ষা ২০২৪ [Bangladesh Economic Review 2024 Bangla.pdf] কম্পিউটার , ট্যাব ও স্মার্ট ফোন ভার্সন সহ সম্পূর্ণ বাংলা ই-বুক বা pdf বই " সুচিপত্র ...বুকমার্ক মেনু 🔖 ও হাইপার লিংক মেনু 📝👆 যুক্ত ..
আমাদের সবার জন্য খুব খুব গুরুত্বপূর্ণ একটি বই ..বিসিএস, ব্যাংক, ইউনিভার্সিটি ভর্তি ও যে কোন প্রতিযোগিতা মূলক পরীক্ষার জন্য এর খুব ইম্পরট্যান্ট একটি বিষয় ...তাছাড়া বাংলাদেশের সাম্প্রতিক যে কোন ডাটা বা তথ্য এই বইতে পাবেন ...
তাই একজন নাগরিক হিসাবে এই তথ্য গুলো আপনার জানা প্রয়োজন ...।
বিসিএস ও ব্যাংক এর লিখিত পরীক্ষা ...+এছাড়া মাধ্যমিক ও উচ্চমাধ্যমিকের স্টুডেন্টদের জন্য অনেক কাজে আসবে ...
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
2. INTRODUCTION
BOSTON CONSULTING GROUP (BCG)
MATRIX is developed by BRUCE
HENDERSON of the BOSTON
CONSULTING GROUP IN THE EARLY
1970’s.
According to this technique, businesses or
products are classified as low or high
performers depending upon their market
growth rate and relative market share.
2
PROF. IYER
3. Relative Market Share
and Market Growth
To understand the Boston Matrix you
need to understand how market share
and market growth interrelate.
3
PROF. IYER
4. MARKET SHARE
• Market share is the percentage of the total market that is
being serviced by your company, measured either in revenue
terms or unit volume terms.
• RELATIVE MARKET SHARE
• RMS = Business unit sales this year
Leading rival sales this year
• The higher your market share, the higher proportion of the
market you control.
4
PROF. IYER
5. MARKET GROWTH
RATE
• Market growth is used as a measure of a market’s
attractiveness.
• MGR = Individual sales - individual sales
this year last year
Individual sales last year
• Markets experiencing high growth are ones where the total
market share available is expanding, and there’s plenty of
opportunity for everyone to make money.
5
PROF. IYER
6. THE BCG GROWTH-SHARE
MATRIX
• It is a portfolio planning model which is based on the
observation that a company’s business units can be classified
in to four categories:
Stars
Question marks
Cash cows
Dogs
• It is based on the combination of market growth and market
share relative to the next best competitor.
6
PROF. IYER
8. STARS
High growth, High market share
• Stars are leaders in business.
• They also require heavy investment, to
maintain its large market share.
• It leads to large amount of cash
consumption and cash generation.
• Attempts should be made to hold the
market share otherwise the star will
become a CASH COW.
8
PROF. IYER
9. CASH COWS
Low growth , High market share
• They are foundation of the company and
often the stars of yesterday.
• They generate more cash than required.
• They extract the profits by investing as little
cash as possible
• They are located in an industry that is
mature, not growing or declining.
9
PROF. IYER
10. DOGS
Low growth, Low market share
• Dogs are the cash traps.
• Dogs do not have potential to bring in
much cash.
• Number of dogs in the company should be
minimized.
• Business is situated at a declining stage.
10
PROF. IYER
11. QUESTION MARKS
High growth , Low market share
• Most businesses start of as question marks.
• They will absorb great amounts of cash if the
market share remains unchanged, (low).
• Why question marks?
• Question marks have potential to become star
and eventually cash cow but can also become
a dog.
• Investments should be high for question
marks. 11
PROF. IYER
12. WHY BCG MATRIX ?
To assess :
Profiles of products/businesses
The cash demands of products
The development cycles of products
Resource allocation and divestment
decisions
12
PROF. IYER
13. MAIN STEPS OF BCG MATRIX
• Identifying and dividing a company into SBU.
• Assessing and comparing the prospects of
each SBU according to two criteria :
1. SBU’S relative market share.
2. Growth rate OF SBU’S industry.
• Classifying the SBU’S on the basis of BCG
matrix.
• Developing strategic objectives for each SBU.
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15. BENEFITS
• BCG MATRIX is simple and easy to understand.
• It helps you to quickly and simply screen the
opportunities open to you, and helps you
think about how you can make the most of
them.
• It is used to identify how corporate cash
resources can best be used to maximize a
company’s future growth and profitability.
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PROF. IYER
16. LIMITATIONS
• BCG MATRIX uses only two dimensions,
Relative market share and market growth rate.
• Problems of getting data on market share and
market growth.
• High market share does not mean profits all
the time.
• Business with low market share can be
profitable too.
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19. CONCLUSION
Though BCG MATRIX has its limitations it is one of the
most FAMOUS AND SIMPLE portfolio planning matrix
,used by large companies having multi-products.
19
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21. 21
Decision Making and Control
• Decision Making
• How to Make Good
Decisions
• Problem Solving
• Building Decision
Making Skills
• Controlling
PROF. IYER
22. 22
Elements in Managerial Decisions
• Decision: A conscious choice
among alternative courses
of action.
• Therefore the 3 elements
are:
– A conscious choice among
alternatives
– A specific purpose
– A course of action
PROF. IYER
23. 23
Approaches to Decision Making
• Rational (Logical
Approach)
• Intuitive Approach
• Unable to decide
(Indecisive Approach)
• Impulsive Approach
PROF. IYER
24. 24
Kinds of Decisions a Supervisor Makes
• Routine data based
decisions
• Serious decisions having
important consequences
• Emergency decisions
requiring distinctiveness
• Problem- Solving
• Decisions beyond your
authority
* It is essential to recognize which decisions need to be made now and are most
important
PROF. IYER
25. 25
A Simple Version of Decision Making
(The Logical Approach)
• Define the problem (conditions
and limitations) and the set of
objectives
• Analyze the problem: fact finding
• Develop alternative solutions:
brainstorming
• Decide on the best solution
• Convert the decision into action
• Follow up
PROF. IYER
26. 26
Pattern of Problem Solving
• Describe the problem
• Search out the cause, get
the facts
• Define the real problem
and set objectives
• Develop alternative
solutions
• Decide on the best solution
• Implement the decision
• Follow up
PROF. IYER
27. 27
Participative Problem Solving
• Argument for Group Decision Making :
– You get more info. And expertise relevant to
the decision
– You get more good ideas and can generate
more and better alternatives
– People thinking together can arrive at better
decisions because of the stimulation and
interplay of different points of view
– Participants are more committed to carrying
out
– Coordination and communication are simpler
and better because everyone understands
PROF. IYER
28. 28
Participative Problem Solving
• Criticism of group decision
making:
– It takes longer in a group
– There is usually a dominator in a
group
– Group participants get involved in
winning arguments and showing
off
– If consensus is required people
may conform to get the meeting
over
– Consensus leads to mediocre
decisions
PROF. IYER
29. 29
Group Decision Making Works Best When:
• Members are accustom to
working together as a team
and having differing expertise
and point of view but common
goals
• The leader is skillful at keeping
the meeting on target
• The group is rewarded for
making good decisions
PROF. IYER
30. 30
Solving Peoples Problems
• Personal problems are not
yours to resolve but
LISTENING can help.
• Keep your own emotions
out of it.
• Try to identify the real
problem.
• If possible eliminate friction
(ex. Food Expeditor).
PROF. IYER
31. 31
Win-Win Problem Solving
• Win-Lose: You win, worker loses
• Lose-Win: You lose, worker wins
(retreat and appeasement, no
stand)
• Lose-Lose: The compromise
• Win-Win problem solving means
you find a decision that satisfies
both of you.
– Include worker from the
beginning: From defining the
problem to carrying out an
agreement
PROF. IYER
32. 32
Guidelines for Building Decision Making
Skills
• Be sure of your authority for
making decisions
• Accept responsibility fully
• Distinguish what's important
• Make the decision at the time it is
needed
• Be alert to signs of problems
needing solutions
• Keep an open mind
PROF. IYER
33. 33
Guidelines for Building Decision Making
Skills
• Don’t solicit advise but do
consult your supervisor when
a problem is beyond your
ability to solve
• Make sure that you are not
part of the problem
• Learn from your mistakes
• Evaluate your decisions when
carried out
PROF. IYER
34. 34
Controlling
• Controlling: process by which
supervisors measure, evaluate, and
compare results to goals, and standards
previously agreed upon, and take
corrective action when nessicary.
• Major area is COST.
• Productivity: efficiency which which
inputs are converted into outputs.
• Productivity standards: defined
acceptable quantity of work expected.
• Use control techniques.
PROF. IYER
35. 35
Controlling Techniques
• Require records and reports
• Develop and enforce performance
standards
• Develop and enforce productivity
standards Develop and enforce
departmental policies and procedures
• Observe and correct employee actions
• Train and retrain employees
• Discipline when appropriate
• Be a good role model
PROF. IYER
37. Aims
• Introduce the economic problem of scarcity
and relate this to the concept of strategy.
• Explore the meaning of organisational strategy
and competitive strategy.
• Investigate the processes by which strategy is
formulated within the organisation.
38. Learning Outcomes
• Summarise the economic problem and relate
this to the issue of strategy through a self-
assessment activity.
• Analyse the various definitions of strategy and
critically consider which is more appropriate
to your organisation.
• Critically examine the meaning of strategic
management and contrast this with a
‘Rationalist ‘ perspective via note taking.
39. The Economic Problem of Scarcity
• Insatiable Wants
• Scarce Resources
• Choices
• Opportunity Cost
40. Marvellous Markets?
• Markets are complex social institutions where
exchange takes place.
• Markets can fail to function properly (Market
Failure)
– Information Asymmetry
– Market Dominance
– Externalities
• We will look at Information.
41. Information Asymmetry
• Differences between simple and complex
exchange.
• Contrast buying a newspaper with the purchase of a
road.
• Information problems with complex exchange.
• Opportunism and the ‘hold up’ problem
• resolved by quasi-market behaviour or integration
• Whatever happened to ‘Trust’?
42. Marvellous Government?
• Do we always need regulation when markets
fail?
• Self-regulation
• market adjustment mechanisms
• Do we need Government to provide ‘public
goods’?
• What about the ‘merit good’ argument?
• How good is government?
43. Distinguish between public goods and
merit goods.
• Public goods are defined as products where, for any given
output, consumption by additional consumers does not
reduce the quantity consumed by existing consumers.
There are very few absolutely public goods, but common
examples include law, parks, street-lighting, defence etc. As
there is no marginal cost in producing the public goods, it is
generally argued that they must be provided free of charge,
because otherwise the people who benefit less than the
cost of using the public good, will not use it. That will lead
to a loss of welfare. Also the goods are mostly non-
excludable, that means that if once provided everybody can
use them, which when charged will lead to "free-riding".
44. Merit goods
• Merit goods are products generally not
distributed by means of the price system, but
based on merit or need, because people
although having perfect knowledge would buy
the wrong amount of them. These goods can
be supplied by free market, but not on the
right quantity. Merit goods are, for example,
education and to some extent the health-care.
They are provided by state as "good for you".
45. How does strategy fit in?
• strategy is the process by which individuals
and organisations make choices about scarce
resources so as to satisfy wants over time in
an environment of uncertainty. They are
aided in this process by market and non-
market forces.
46. Organisational Strategy
– “A strategy is defined as a pattern, of purposes,
policies, programmes, actions, decisions, or
resource allocations that define what an
organisation is, what it does, and why it does it.
Strategies can vary by level function, and by time
frame.”
(Bryson, 1995)
47. Competitive Strategy
– Strategy is the direction and scope of an
organisation over the long term: which achieves
advantage for the organisation through its
configuration of resources within a changing
environment, to meet the needs of markets and to
fulfil stakeholder expectations”
(Johnson and Scholes, 1999).
48. Mintzberg’s 5 P’s
• Strategy can be characterised as a
• Ploy
• Position
• Perspective
• Plan
• Pattern
Outwitting a rival
Place in the market
A powerful group
A consciously intended course of action,
general or specific
50. Planning and Strategic Management.
– "[Strategic management] is a means of
understanding the strategic position of the
organisation: formulating courses of action,
evaluating them and choosing between them; as
well as planning how the choice of strategy can be
put into effect and managing the resultant
changes." Johnson and Scholes (1994)
51. Planning and Strategic Management.
• planning is a sequence of analytical and
evaluative procedures to formulate an
intended strategy and the means of
implementing it. (Johnson and Scholes, 1999)
• is Planning unconcerned with emergent
strategy?
53. 22 April 2023 53
What is meant by Strategic Planning?
• What do you understand by the term
‘Planning’?
• Brainstorm your ideas.
PROF. IYER
54. 22 April 2023 54
Strategic Planning
• “A disciplined effort to produce fundamental
decisions and actions that shape and guide
what an organisation is, what it does, and why
it does it”
Bryson (1995)
PROF. IYER
55. 22 April 2023 55
Reassess the
process
Develop an effective
implementation process
Establish an effective organisational
vision
Review and adopt the strategic plan or plans
Formulate strategies to manage
these issues
Identify the strategic issues facing the
organisation
Assess the external and internal environments to identify
SWOTs (Strengths, Weaknesses, Opportunities and Threats)
Clarify Organisational Mission and Values.
Identify Organisational Mandates
Initiate and agree upon the strategic planning process.
1
10
The Planning Process
PROF. IYER
56. 22 April 2023 56
Stage1: Initiate and agree upon the
strategic planning process.
• Agreement must be reached as to
• the purpose of the effort
• the preferred steps in the process.
• the form and timing of reports (the planning cycle)
• the role, function and membership of groups established to
oversee the effort.
• the role, functions and membership of any strategic planning
committee.
• the commitment of resources for the process.
PROF. IYER
57. 22 April 2023 57
Stage 2: Identify Organisational
Mandates
• What Must be Done
• What must not be Done
• What Could be done
PROF. IYER
58. 22 April 2023 58
Stage 3: Clarify Organisational Mission
and Values.
• the overriding purpose or intent of the
organisation must be established.
• an opportunity to establish broad policy goals.
PROF. IYER
59. 22 April 2023 59
Stage 3: Clarify Organisational Mission
and Values.(cont)
• Stakeholders
– Bryson (1995) suggests identification of key
stakeholders is the key means to success in public
and non-profit organisations.
– But who are the stakeholders?
PROF. IYER
60. 22 April 2023 60
A B
C D
Minimal
effort
Keep
informed
Keep
satisfied
Key
players
Low
High
POWER
LEVEL OF INTEREST
Low High
PROF. IYER
61. 22 April 2023 61
Stage 3: Clarify Organisational Mission
and Values.(cont)
• Claims for mission
• Peeke (1994)
– it encourages the development of a clear sense of purpose.
– it facilitates decision making in the organisation
– the mission process facilitates organisation-wide communication.
– it aids evaluation activity.
– it clarifies marketing strategy.
– it is useful in the management of contraction (at least if the mission
has been devised proactively.
PROF. IYER
62. 22 April 2023 62
Clarify Organisational Mission and
Values.(cont)
• "...even if the mission statement ends up in
everyone's wastebasket, there will still be
beneficial effects resulting from the thinking
and analysis involved in drafting it" (Bowman,
1990)
PROF. IYER
63. 22 April 2023 63
Guiding principles for Mission
• It takes years not months
• True consensus is necessary within the top team
• Action is a better communicator than words
• Top team visibility is essential
• Top team continuity helps
• Strategy and Values should be formulated together
• Management should focus on the link between behaviour and
values.
• Make the mission inspirational but not unrealistic
PROF. IYER
64. 22 April 2023 64
Stage 4: Assess the external and
internal environments
• The subject of future Lectures
PROF. IYER
65. 22 April 2023 65
Stage 5: Identify the strategic issues
facing the organisation
• These are fundamental policy questions or
critical challenges that affect an organisation’s
mandates, mission and values; product or
service level and mix; clients, users, or payers;
or cost, financing, organisation or
management (Bryson, 1995,p.30)
PROF. IYER
66. 22 April 2023 66
Stage 6: Formulate strategies to
manage these issues
• “A strategy is defined as a pattern, of
purposes, policies, programmes, actions,
decisions, or resource allocations that define
what an organisation is, what it does, and why
it does it. Strategies can vary by level
function, and by time frame.”
– (Bryson, 1995)
PROF. IYER
67. 22 April 2023 67
Stage 7: Reviewing and Adopting the
Strategies and Plan
• This is important where official approval to
proceed is required or where joint
commissioning work is being undertaken.
• This stage represents the formal seal of
approval for the strategies to be adopted.
PROF. IYER
68. 22 April 2023 68
Stage 8: Establishing an Effective
Organisational Vision
• ‘animating the dream’. These statements offer
aspirations about the future strategic direction
of the organisation and are often incorporated
in Mission Statements.
• In this stage the organisation is developing a
view of what it should look like once its
strategies are achieved and developed to their
full potential.
PROF. IYER
69. 22 April 2023 69
Stage 9: Developing an Effective
Implementation Process
• Developing a document is not enough. For Strategies to be
realised.
– Individuals, teams etc. have know their roles and responsibilities
– action plans have to be developed
– timescale has to be considered (a planning cycle might develop).
– resources have to be committed, particularly to training
– communication processes have to be developed (and these have to be
effective)
– Review and monitoring procedures have to be considered (This may
involve, performance indicators, benchmarking)
– Accountability procedures must be put in place
PROF. IYER
70. 22 April 2023 70
Stage 10: Reassessing Strategies and
the Planning Process
• The process is on going. But remember, new
strategies emerge and some old ones are
discarded whilst others remain.
PROF. IYER
72. 22 April 2023 72
Where does Strategy come from?
What ‘Forces’ affect it?
• Which of the following forces dominate the current strategic
outlook of the organisation?
– Is there a rigorous planning regime?
– Are incremental adjustments being made to fit the organisation with
its environment?
– Do organisational culture and politics matter?
– Is there a dominant leader who determines the strategic outlook?
– Do outside forces dictate where you head?
PROF. IYER
73. 22 April 2023 73
Where does Strategy come from?
What ‘Forces’ affect it?
• More importantly, what forces do you think
should dictate the future strategic outlook of
the organisation?
• THE SNOWFLAKE DIAGRAM re- Johnson and
Scholes (2001)
PROF. IYER
74. 22 April 2023 74
Configurations of Strategy
Development
• Planning
• Incremental
• Cultural
• Political
• Command
• Enforced Choice
PROF. IYER
75. 22 April 2023 75
The Planning Dimension
• Strategies are the outcome of rational, sequential, planned
and methodical procedures
• Definite and precise strategic objectives are set
• The organisation and environment are analysed
• Potential strategic options are generated and the optimum
solution chosen
• Defined procedures for implementation and the achievement
of the strategic objectives are developed
• The strategy is made explicit in the form of detailed plans
PROF. IYER
76. 22 April 2023 76
The Incremental Dimension
• Evolutionary but purposeful strategy development
• Strategy is developed as issues arise
• Strategy is continually adjusted to match changes in the
operating environment
• Early commitment to a strategy is tentative and subject to
review
• Strategic options are continually assessed for fit
• Successful options gain additional resources
• Strategic options are developed from existing strategies by
experimentation and through gradual implementation
PROF. IYER
77. 22 April 2023 77
The Cultural Dimension
A “way of doing things” in the organisation guides strategic
direction
• Strategies evolve in terms of a core set of shared assumptions
based on past experience, values and beliefs held by the
organisation’s members
• The shared assumptions guide
– the selection of goals and objectives
– the identification of strategic issues
– the selection of information
– the selection of strategies
PROF. IYER
78. 22 April 2023 78
The Political Dimension
• Strategies are developed by negotiation and bargaining
between interest groups
• The interest groups seek to realise their own desired
objectives
• Their influence on strategy development increases with
power
• Power comes from the ability to create or control the flow of
scarce resources and the control and provision of information
• A strategy acceptable to powerful interest groups is achieved
by a process of accommodation and mutual adjustment
PROF. IYER
79. 22 April 2023 79
The Command Dimension
• An individual is the driving force behind the organisation’s
strategy.
• Strategy is primarily associated with the institutionalised
power of an individual or small group.
• The strategy represents the aspirations for the organisation’s
future of this individual.
• The strategic direction may be related to a “vision” based on
rational understanding and intuition, or experience and
intuition.
• The individual becomes the representation of the strategy for
the organisation.
PROF. IYER
80. 22 April 2023 80
The Enforced Choice Dimension
• Strategic choice is prescribed or limited by external forces
which the organisation is unable to control or influence.
• Organisations respond to environmental imperatives.
• Strategic change is instigated from outside the organisation.
• Barriers in the environment severely restrict strategic mobility.
PROF. IYER
82. Vision/Mission Statements
• Statements that explain who we are
– Type of organization
– Products/services
– Needs we fill
• Statements that explain our direction, our purpose,
our reason for being
– What difference do we make?
• Statements that explain what makes us unique
– Values
– People
– Combination of products and services
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83. Business Vision Statement
A statement that clearly defines the firm’s
“reason” for being in business
– Should significantly stretch the resources and
capabilities of the farm
– Should inspire people in the organization to
achieve things they never thought possible
– Should unite people in the organization toward
the pursuit of one common goal
83
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84. Business Vision Statement
• A guiding philosophy
• Consistent with organizational value
• Influenced by the strengths and weaknesses
of the business
84
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85. Components of a Vision Statement
• Core ideology
– Core Values - timeless guiding principles
– Core Purpose - reason for being
• Envisioned future
– Big Hairy Audacious Goals (BHAG) -
clearly articulated goals
– Vivid description - a graphic description of what
success and the future will be like
• Recognition of service to stakeholders
– Owners/creditors
– Employees
– Customers
85
PROF. IYER
86. Mission Statements
• The mission statement of an organization is
normally short, to the point, and contains the
following elements:
– Provides a concise statement of why the
organization exists, and what it is to achieve;
– States the purpose and identity of the organization;
– Defines the institution's values and philosophy; and
– Describes how the organization will serve those
affected by its work.
86
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87. Vision vs. Mission
• The vision is more broad and future oriented –
the goal on the horizon
• The mission is more focused – how you will
get to the horizon
87
PROF. IYER
88. Examples of Vision Statements
Ben & Jerry’s
Product: To make, distribute, and sell the finest quality all
natural ice cream and related products in a wide variety of
innovative flavors made from Vermont dairy products.
Economic: To operate the Company on a sound financial basis
of profitable growth, increasing value for our shareholders
and creating career opportunities and financial rewards for
our employees.
Social: To operate the Company in a way that actively
recognizes the central role that business plays in the
structure of society by initiating innovative ways to improve
the quality of life of a broad community: local, national, and
international.
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89. Examples of Mission Statements
Pawar Hybrids
Pawar Hybrids is a
regional agricultural
seed company
providing corn hybrids,
high oil corn seed
blends, and premium
alfalfas to farmers of
Maharashtra.
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90. Nashik Farms
To be a farm business that farms and/or manages land to
best satisfy the landowner. To be one of the very best
farmers and farm managers in our region. To rent farm
land by striving to obtain maximum income per acre,
thus creating maximum profits for the landlord and
tenant, through the use of distinguished management of
the land. We also have the motto that “appearance is
everything,” that goes for our equipment to your land.
We make every effort to ensure that the landowner’s
land is virtually weed free and well kept.
Examples of Vision Statements
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91. MBC Farms
Vision
MBC Farms will be an agribusiness focused on the profitable, progressive,
and sustainable production of premium quality identity-preserved grains,
oilseeds, and dairy products. MBC Farms will be a respected, responsible
neighbor and an asset to our community. We prefer a rural lifestyle and
are willing to embrace change as a means to that end. MBC Farms
provides the opportunity for our children and employees to participate in
production agriculture either as owners and/or managers of the business.
Mission
MBC Farms is a producer of grains, oilseeds, specialty crops, and milk. Our
mission is to be recognized by our business associates and competitors as
one of the top producers in our area and to make sure that productivity
translates into prosperity and growth for everyone involved with our
farm.
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92. Exercise
• Spend some time thinking about the vision and
mission of your Family.
• The exercises have a set of questions that will help
frame your thinking.
• Begin writing things down today; you can revise
and work on it more later.
• Remember developing vision and mission
statements are not immediate occurrences; they
take time, reflection and practice.
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