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Unformatted text preview: Chapter 5: Strategies in Action 21. What are long-term objectives? Describe their purpose within various levels of an organization. Your Answer: a Long-term objectives represent the results expected from pursuing certain strategies. The time frame for objectives and strategies (actions to be taken to accomplish long-term objectives) should be consistent, usually from two to five years. Objectives should be quantitative, measurable, realistic, understandable, challenging, hierarchical, obtainable, and congruent among organizational units. They are needed at the corporate, divisional, functional, and operational levels. Students may see long-term objectives and the nature of long-term objectives on page 144. 22. Compare market penetration, market development, and product development. Give an example of each intensive strategy. Your Answer: a Market penetration is seeking increased market share for present products or services in present markets through greater marketing...
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This note was uploaded on 07/11/2011 for the course MRKT 6935 taught by Professor Mak during the Spring '11 term at Shaheed Zulfiqar Ali Bhutto Institute of Science and Technology.
- Spring '11