CHAPTER 3

is the series of steps businesses take to determine how they will achieve their goals. systems, a group of interacting related parts that perform a specific function.

is a decision process for people and businesses to manage systems to achieve an objective.

is a written document that defines the operational and financial objectives of a business over a particular time.

may need to communicate its business plan in a variety of situations.

a brief description of a product or service designed to gain attention of desired parties and to generate interest in achieving a desired outcome, is generally used at initial stages of business negotiations or funding requests

determines the overall goals of the business and the steps it will take to achieve them.

is typically completed by the top management of a business, as opposed to tactical planning that is typically done within the various functions within a business.

is the process of developing actions for various functions within a business to support implementing a business’s strategic plan.

is a statement that identifies the purpose of a business and what makes that business different from others.

is a statement in a strategic plan that identifies an idealized picture of a future state a business is aiming to achieve.