Answer:
B. To focus marketing efforts on a specific target market
D. To provide a higher quality product or service
E. To give the company a clear direction and goals.
H. To create a clear brand identity.
Explanation:
A well-written and defined business strategy sets the overall direction for a company or business firm because it essentially focuses on defining the scope of the business and how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
A company's scope can be defined as the variety or range of finished goods (products) and services that are being offered by the company.
Basically, any company having a range of goods and services that are unrelated or slightly related is said to considered to have a large scope while a company having a range of goods and services that are closely related is said to have a small but focused scope.
Hence, some of the reasons to limit a company's scope are;
I. To focus marketing efforts on a specific target market.
II. To provide a higher quality product or service.
III. To give the company a clear direction and goals.
IV. To create a clear brand identity.
Additionally, SWOT analysis is a strategic technique which is used by various companies or business firms to plan through the identification of its strength, weakness, opportunities and threats in relation to its business. The internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats.
