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Strategic Management (SWOT Analysis (the essence of any strategy-planning…

- - - - market penetration:taking steps to boost sales of present products by more aggressively selling and marketing into the firm’s current markets.
      - Geographic expansion: concentrating on its traditional business by aggressively expanding into new geographic markets, domestic and overseas.
      - product development:developing improved products for current markets.
      - Horizontal integration:acquiring ownership or control of competitors in the same or similar markets with the same or similar products
      - Vertical integration:owning or controlling the inputs to the firm’s processes and/or the channels through which products or services are distributed.
      - Diversification:a strategy of expanding into related or unrelated products or market segments. related diversification+conglomerate diversification
  - - - Related diversification: Offers more opportunity for synergy+competitive advantage+utilization of existing management expertise+cost minimization; economies of scale+ less diversify risk+less available market opportunities.
      - Unrelated diversification:
- - - - Cash Cow -- 'Milk it' use resources to support a star
      - Star -- 'Feed it' resources, so that it will grow into a big, fat cash cow
      - Dog -- "Its days are over;" cut off resources or divest
      - Question Mark -- Management 'judgment call;' should it be fed, hoping for a star?
      - The GE (General Electric) Matrix is quite similar, but adds more precision and detail by using a 3x3 matrix.
      - The concept of the BCG Growth/Share Matrix is "related" to the concept of the Product Life Cycle.