SynVens, a major retail chain in Hungary, is planning to diversify. It plans to enter the Textiles industry and aims to be first or second in market share in this industry in five years. Which of the following levels of plan does this strategy fall under?

Question

Business

Shayla Harding

31 December, 12:31

SynVens, a major retail chain in Hungary, is planning to diversify. It plans to enter the Textiles industry and aims to be first or second in market share in this industry in five years. Which of the following levels of plan does this strategy fall under?

+1

Answers (1)

Know the Answer?

Luciana Rosales · Answer 1

Answer: Corporate - Level Plan

Explanation: Corporate level planning entails reviewing the current strategy of a business in order to determine the company's long term goals. This is done by senior management, the owners of the company and its shareholders. Because this plan looks at the business as a whole, encompssing all of its departments and divisions, this plan also confirms in which markets the business can enter in and why. In this case SynVens aims to be the first or second in market share in the textile company within 5 years. This is the goal set by the business's highest management in accordance with their corporate level plan fo the future of the business.