Strategic Management

76 In order of importance, list six “characteristics of objectives.”

2. 
   Should be realistic
   
3. 
   Well timed
   
4. 
   Stick to the plan
   
5. 
   Should be measurable
   
6. 
   Set goals should be appropriate
   
7. 
   Should be realistic
   

77. 
    In order of importance, list six “benefits of objectives.”
    

Outlines your goals
Improves focus
Give a sense of purpose
Enhances coordination
Works towards greater motivation and commitment
Improves planning

77. 
    Called de-integration, there appears to be a growing trend for firms to become less forward integrated. Discuss why??????
    
78. 
    Called de-integration, there appears to be a growing trend for firms to become less backward integrated. Discuss why?????
    

77. 
    If a company has $1 million to spend on a new strategy and is considering market development versus product development, what determining factors would be most important to consider?
    

If a company has $1 million to spend on a new strategy and is considering market development versus product development, the most important determining factors are the company's preexisting product.

77. 
    What conditions, externally and internally, would be desired/necessary for a firm to diversify?
    

Diversification of a firm means the expansion of the firm in order to add new products, markets and certain more services to their existing business. A company looking forward for expansion should firstly have the man force of the required amount of labour within the company in order to keep the diversification in order and expand effectively in the market. The Company should also have the in-depth knowledge of the product or the markets it is looking forward to diversify along with the funds that shall be required for the operations. Internal factors influencing the diversification are - human resource to fuel the diverseified line of business, product lines catering to the new markets and consumers, right business model, financial freedom, and branding cpability.

77.