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Question:

A company wants to increase its market share from the present 10% to 25% to have a dominant position in the market by the end of the next financial year. Ms Rajni, the sales manager has been asked to prepare a proposal that will outline the options available for achieving this objective. Her report included the following options - entering new markets, expanding the product range offered to customers, using sales promotion techniques such as giving rebates, discounts or increasing the budget for advertising activities. Which step of the planning process has been performed by Ms Rajni?

Answer:

The type of planning process highlighted in the above case is called Strategy. It helps to define the scope and direction of the organization in the long-run.

There are three dimensions of strategy for achieving organizational goals:

1. Determining long-term objectives.
2. Adopting a particular course of action.
3. Allocating resources necessary to achieve objectives.


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