Given the opportunities and challenges provided by the new realities of the marketplace,decision makers have to engage in ___________ to match markets with products.

Question

Quizplus · Accepted Answer

Strategic planning is the process of defining a company's direction and making decisions on allocating its resources to pursue this direction. Given the new realities of the marketplace, decision makers need to engage in strategic planning to align their products with the market demand and achieve their business goals. Micromanagement, management by walking around, supply chain management, and just-in-time management are all specific management approaches that may be part of a company's strategic plan, but they do not encompass the entire process of aligning markets with products.

Given the Opportunities and Challenges Provided by the New Realities