{"id":1047,"date":"2022-04-21T19:22:00","date_gmt":"2022-04-21T17:22:00","guid":{"rendered":"https:\/\/support.centreforelites.com\/product-development-objectives\/"},"modified":"2023-08-16T13:31:30","modified_gmt":"2023-08-16T11:31:30","slug":"product-development-objectives","status":"publish","type":"post","link":"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/","title":{"rendered":"PRODUCT DEVELOPMENT OBJECTIVES"},"content":{"rendered":"\n<p>\u00a0<span style=\"text-indent: 41pt;\">It is very important to clearly state the product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> objectives <\/span><span style=\"font-size: 14pt; line-height: 137%; text-indent: 41pt;\">in order to provide direction for product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> decisions. <\/span><span style=\"text-indent: 41pt;\">Generally, product <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">development<\/a> programmes may be designed to implement <\/span><span style=\"font-size: 14pt; line-height: 137%; text-indent: 41pt;\">the corporate marketing plan or to implement the marketing strategy for a given product or product line.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"600\" height=\"600\" src=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=600%2C600&#038;ssl=1\" alt=\"PRODUCT DEVELOPMENT OBJECTIVES\" class=\"wp-image-1448\" srcset=\"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?w=600&amp;ssl=1 600w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=300%2C300&amp;ssl=1 300w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=150%2C150&amp;ssl=1 150w, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES.png?resize=12%2C12&amp;ssl=1 12w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption class=\"wp-element-caption\">PRODUCT <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">DEVELOPMENT<\/a> OBJECTIVES<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><a href=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/product-development-strategy-slide1.png?ssl=1\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/product-development-strategy-slide1.png?ssl=1\" alt=\"PRODUCT DEVELOPMENT OBJECTIVES\"\/><\/a><\/figure>\n\n\n\n<p>There are four basic types of product-development programmes, each of which is <span style=\"font-size: 14pt; line-height: 132%;\">designed to fulfil specific objectives. These programmes include:<\/span><\/p>\n\n\n\n<p><a name=\"bookmark1155\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(i)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Product-line modification programmes<\/span><\/p>\n\n\n\n<p><a name=\"bookmark1156\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(ii)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Product-line extension programmes<\/span><\/p>\n\n\n\n<p><a name=\"bookmark1157\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(iii)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Complementary-product programmes<\/span><\/p>\n\n\n\n<p><a name=\"bookmark1158\"><\/a><!-- [if !supportLists]--><span style=\"font-size: 14pt; line-height: 115%;\">(iv)<span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; line-height: normal;\">&nbsp;&nbsp;&nbsp;&nbsp; <\/span><\/span><!--[endif]--><span style=\"font-size: 14pt; line-height: 115%;\">Diversification programmes.<\/span><\/p>\n\n\n\n<p><span style=\"font-size: 14pt; line-height: 115%;\">An organisation may employ any one or a combination of these programmes to achieve different product-development objectives.<\/span><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d958497c8f3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d958497c8f3\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#i\" >&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#PRODUCT-LINE_MODIFICATION_PROGRAMMES\" >PRODUCT-LINE MODIFICATION PROGRAMMES&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#PRODUCT-LINE_EXTENSION_PROGRAMMES\" >PRODUCT-LINE EXTENSION PROGRAMMES &nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#COMPLEMENTARY-PRODUCT_PROGRAMMES\" >COMPLEMENTARY-PRODUCT PROGRAMMES<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/support.centreforelites.com\/en\/product-development-objectives\/#_Diversification_of_product_development_programmes\" >&nbsp;Diversification of product development programmes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"i\"><\/span>&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PRODUCT-LINE_MODIFICATION_PROGRAMMES\"><\/span>PRODUCT-LINE MODIFICATION PROGRAMMES&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>&nbsp;<\/p>\n\n\n\n<p>These&nbsp;<span style=\"font-size: 14pt; line-height: 120%;\">programs are generally employed with the primary objective of <b><i>enhancing sales of <\/i><\/b><\/span><b><i>the present line.<\/i><\/b><\/p>\n\n\n\n<p><span style=\"font-size: 14pt; line-height: 125%;\">They may be useful in implementing a customer-retention <a href=\"https:\/\/educom360.com\/strategy-implementation-and-execution\/?swcfpc=1\">marketing strategy<\/a> for the purposes of:<\/span><\/p>\n\n\n\n<p>meeting changing buyer needs meeting new competitive offerings or improving satisfaction with the product.<\/p>\n\n\n\n<p>This objective of enhancing sales of the present line can be achieved by: redesigning or reformulating the product to provide new benefits or to improve product quality; or by using multiple packaging in order to reduce competitors&#8217;<\/p>\n\n\n\n<p>We may note that product modification programmes may enhance sales just by stimulating primary demand through increasing the rate of purchase. For instance, major design changes may result in a faster replacement rate for durable goods. In particular, modest packaging changes can lead to more rapid consumption of the product.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"PRODUCT-LINE_EXTENSION_PROGRAMMES\"><\/span><b><span style=\"font-size: 14pt; line-height: 125%;\">PRODUCT-LINE EXTENSION PROGRAMMES <\/span><\/b><span style=\"font-size: 14pt; line-height: 125%;\">&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><span style=\"font-size: 14pt; line-height: 125%;\">The primary objective of product-line extension programmes is to <i style=\"font-weight: bold;\">reach a<\/i>&nbsp;<\/span><b><i><span style=\"font-size: 14pt; line-height: 120%;\">new segment of a market.<\/span><\/i><\/b><span style=\"font-size: 14pt; line-height: 120%;\"> Basically, these programmes may be employed to:<\/span><\/p>\n\n\n\n<p><span style=\"font-size: 14pt; line-height: 120%;\">acquire competitors&#8217; customers in segments where a firm presently does not have an offering, or&nbsp;<\/span><span style=\"font-size: 14pt; text-indent: 1pt;\">stimulate demand among current non-users of a product form.<\/span><\/p>\n\n\n\n<p><span style=\"font-size: 14pt; line-height: 132%;\">In these two situations above, an entirely <a href=\"https:\/\/educom360.blogspot.com\/2022\/04\/new-product-development.html\">new product<\/a> must be created with <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/new-product-development.html\">product<\/a> <\/span>features distinguishing it from the current offering.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"COMPLEMENTARY-PRODUCT_PROGRAMMES\"><\/span>COMPLEMENTARY-PRODUCT PROGRAMMES<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a name=\"bookmark1167\"><\/a><\/p>\n\n\n\n<p><span style=\"font-size: 12pt; line-height: 122%;\">Complementary product programmes seek to introduce products that can be <\/span>generally used with existing products. The objectives of these programmes may <span style=\"font-size: 14pt; line-height: 122%;\">be two-fold: either to <\/span><b><i>enhance sales of existing products<\/i><\/b><span style=\"font-size: 14pt; line-height: 122%;\"> or to <b><i>establish sales <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> in related markets.<\/i><\/b><\/span><\/p>\n\n\n\n\n\n<p><a href=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/3-s2.0-B9780124080669000011-f01-02-9780124080669.jpg?ssl=1\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"size-large\" src=\"https:\/\/i0.wp.com\/educom360.com\/wp-content\/uploads\/2022\/04\/3-s2.0-B9780124080669000011-f01-02-9780124080669.jpg?resize=624%2C345&#038;ssl=1\" alt=\"COMPLEMENTARY-PRODUCT PROGRAMMES\" width=\"624\" height=\"345\"><\/a> COMPLEMENTARY-PRODUCT PROGRAMMES<\/p>\n\n\n\n<p>Complementary products have been found to enhance the sales of existing <span style=\"font-size: 12pt; line-height: 129%;\">products. For example, a flash attachment to a camera will enable the customer to use the product in more situations, and will thus enhance the quality of the photographs taken. In another way, a complementary product may be introduced simply <\/span>to take advantage of a company&#8217;s brand name, image, or sales force. For example, a tyre manufacturing firm may add the production of tubes as complementary <span style=\"font-size: 14pt; line-height: 129%;\">products.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"_Diversification_of_product_development_programmes\"><\/span><span style=\"font-size: 7pt; font-stretch: normal; font-variant-east-asian: normal; font-variant-numeric: normal; font-weight: normal; line-height: normal;\">&nbsp;<\/span><!--[endif]-->Diversification of product development programmes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><a name=\"bookmark1171\"><\/a><\/p>\n\n\n\n<p>Diversification programmes are designed to establish a firm in new markets in order to achieve objectives such as <b><i>new <a href=\"https:\/\/support.centreforelites.com\/en\/definition-of-growth-and-development\/\">growth<\/a> opportunities<\/i><\/b><span style=\"font-size: 14pt; line-height: 130%;\"> or&nbsp;<\/span><b><i>sales stability. <\/i><\/b>Generally, diversification is a policy of adding <a href=\"https:\/\/motivemeaning.blogspot.com\/2022\/04\/new-product-development.html\">new products<\/a> to serve new markets.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0It is very important to clearly state the product development objectives in order to provide direction for product development decisions. <\/p>\n","protected":false},"author":1,"featured_media":1509,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"wds_primary_category":135,"footnotes":""},"categories":[135],"tags":[178,227],"class_list":["post-1047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamentals-of-marketing","tag-business-management","tag-principles-of-marketing"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/11\/PRODUCT-DEVELOPMENT-OBJECTIVES-1.png?fit=600%2C600&ssl=1","jetpack-related-posts":[{"id":1059,"url":"https:\/\/support.centreforelites.com\/en\/strategy-implementation-and-execution\/","url_meta":{"origin":1047,"position":0},"title":"STRATEGY IMPLEMENTATION AND EXECUTION","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"\u00a0This article\u00a0deals with strategy implementation and execution which means that translating a decision into action is essentially an administrative task.","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"STRATEGY IMPLEMENTATION AND EXECUTION","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-4491451.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/pexels-photo-4491451.jpeg?fit=1200%2C800&ssl=1&resize=350%2C200 1x, 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It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing\u00a0budget\u00a0requests for\u2026","rel":"","context":"In &quot;Blog&quot;","block_context":{"text":"Blog","link":"https:\/\/support.centreforelites.com\/en\/category\/blog\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1125,"url":"https:\/\/support.centreforelites.com\/en\/the-concept-of-strategic-management\/","url_meta":{"origin":1047,"position":2},"title":"The Concept of Strategic Management","author":"centreforelites","date":"March 28, 2022","format":false,"excerpt":"\u00a0Strategic management provides better guidelines to the entire organisation on the crucial point of \u201cwhat is it we are trying to do and to achieve\u201d? It makes managers more alert to the winds of change, new opportunities\u00a0and threatening developments. It also provides managers with a rationale for evaluating competing budget\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Strategic management","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Management1.jpg?fit=728%2C707&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":1062,"url":"https:\/\/support.centreforelites.com\/en\/business-strategic-planning\/","url_meta":{"origin":1047,"position":3},"title":"Business Strategic Planning Process","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"This article talks about Business strategic planning in an organisation. This was devised by corporate leaders to implement strategies\u00a0that will enhance the competitiveness of each business unit. It differs from the yearly fiscal plans of the organisation. Strategic Planning \u00a0\u00a0Background Information on Business Strategic Planning Strategic planning (SP) evolved in\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"Business Strategic Planning Process","src":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/support.centreforelites.com\/wp-content\/uploads\/2022\/04\/Strategic-Planning.webp?fit=1200%2C962&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":1061,"url":"https:\/\/support.centreforelites.com\/en\/strategy-formulation\/","url_meta":{"origin":1047,"position":4},"title":"Business Strategy Formulation. The 5 Levels","author":"centreforelites","date":"April 20, 2022","format":false,"excerpt":"This article deals with strategy formulation, particularly, the essential elements that are involved in the formulation of strategy. It discusses how strategy formulation gives the direction that the organisation wants to go. The different levels of strategy formulation are enumerated. The article ends by giving vivid information on the background\u2026","rel":"","context":"In &quot;Strategic Management&quot;","block_context":{"text":"Strategic Management","link":"https:\/\/support.centreforelites.com\/en\/category\/strategic-management\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1124,"url":"https:\/\/support.centreforelites.com\/en\/strategic-management-components\/","url_meta":{"origin":1047,"position":5},"title":"Strategic Management Components","author":"centreforelites","date":"March 28, 2022","format":false,"excerpt":"https:\/\/www.youtube.com\/watch?v=WEAjAFytFoc INTRODUCTION In formulating strategies, there are basic Strategic Management Components or elements that we usually consider. These include company mission, profile, goals, objectives, strategy and policy. The components are not so cleanly and neatly performed in actual practice. Usually, there is an interplay of the elements. 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