Planning and strategy Instructions After reading the assigned textbook chapter required for this module, answer the following questions related to planning and strategy topics The answers to each question must have a minimum of 5 complete sentences Planning Explain in your own words the benefits and difficulties of planning Distinguish between strategic, tactical, and operational plans that are developed in companies Describes the steps to make a plan work Strategies Discuss the three steps in the strategizing process It explains and offers an example of each of the three great global strategies that are worked on at the corporate level growth, reduction (entrenchment) and stability Michael Porter establishes three positioning strategies (also known as generic) that companies can choose to compete at the level of the industry in which they operate cost leadership, differentiation, and focus Briefly explain each of these and provide an example

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Question: Planning and strategy Instructions After reading the assigned textbook chapter required for this module, answer the following questions related to planning and strategy topics.The answers

Planning and strategy

Instructions

After reading the assigned textbook chapter required for this module, answer the following questions related to planning and strategy topics.The answers to each question must have a minimum of 5 complete sentences.

Planning

Explain in your own words the benefits and difficulties of planning.
Distinguish between strategic, tactical, and operational plans that are developed in companies.
Describes the steps to make a plan work.

Strategies

Discuss the three steps in the strategizing process.
It explains and offers an example of each of the three great global strategies that are worked onat the corporate level: growth, reduction (entrenchment) and stability.
Michael Porter establishes three positioning strategies (also known as generic) that companies can choose to compete at thelevel of the industryin which they operate: cost leadership, differentiation, and focus.Briefly explain each of these and provide an example.

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