Discuss the Relationship Between Short-Term,intermediate-Term and Long-Term Planning

question 8

Essay

Discuss the relationship between short-term,intermediate-term and long-term planning.In what ways can a manager increase the probability that these planning types remain internally consistent and capable of achieving the organisation's overarching strategy?

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Definitions:

Multidomestic Strategy

A business strategy that involves a company adapting its products and practices to each local market, while maintaining a global presence.

Local Employment Customs

The traditional practices, norms, and laws that govern hiring, working conditions, and worker relations in a particular geographic area or culture.

Location Economies

The cost advantage of performing each stage in the value chain at the lowest cost for that activity.

Multidomestic Strategy

A corporate strategy that involves a firm offering products or services that are tailored to suit the tastes and preferences of different local markets.