Strategic Management Terms (Part 1)

The process of planning, implementing, and evaluating an organization's strategy to achieve its goals and objectives.

An assessment of an organization's strengths, weaknesses, opportunities, and threats to inform strategic planning

A concise statement outlining an organization's purpose, values, and core objectives.

A forward-looking statement describing the desired future state of an organization.

The systematic process of defining an organization's strategy and making decisions on allocating its resources.

Broad objectives that an organization aims to achieve over a defined period, aligning with its mission and vision.

Specific, measurable, and time-bound targets that support the achievement of strategic goals.

Unique capabilities or resources that give an organization a competitive advantage.

A set of unique qualities that allows an organization to outperform its rivals.

A framework for analyzing the competitive forces in an industry, including the threat of new entrants and the bargaining power of buyers and suppliers.