Components of the Strategic Planning Process
Completion requirements
Read these sections, which discuss the strategic planning components and outline the strategic planning process. It's essential to follow the process to write an informed strategic plan. The firm's strategic plan sets the firm's direction, and management and employees must work together to meet the outlined objectives.
2.1 The Value Proposition
Learning Objectives
- Explain what a value proposition is.
- Understand why a company may develop different value propositions for different target markets.
Source: University of Minnesota, https://open.lib.umn.edu/principlesmarketing/chapter/2-1-the-value-proposition/ and https://open.lib.umn.edu/principlesmarketing/chapter/2-2-components-of-the-strategic-planning-process/
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