Business planning is an ongoing process where managers make decisions that guide a business. There are 3 levels of business planning: strategic planning, tactical planning, and operational planning. Strategic planning is what to do in the next 5 years and involves the mission statement. Tactical planning is for the next 1 to 2 years. Operational planning is about the day to day activities. The market is made up of stars, question marks, cash cows, and dogs.
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