BUS 1-4 Strategy Review

A business’s route or plan of action designed to achieve certain goals and objectives.

• Marketing Strategy

• Objective

• Business Strategy

• Vision

A stated, observable, and measurable end result to be achieved within a certain timeframe.

• Goal

• Objective

• Strategy

• Vision

A company’s game plan for reaching its target market, converting it to customers, and meeting company goals and objectives.

• Goal

• Tactic

• Business Strategy

• Marketing Strategy

A company's purpose; its reason for being; the problem it is solving.

• Goal

• Mission

• Vision

• Strategy

More specific than a goal, an objective is a specific result to be achieved within a time frame and with available resources.

• Objective

• Strategy

• Vision

• Goal

A route or plan of action designed to achieve certain goals and objectives.

• Strategy

• Taction

• Mission

• Vision

A specific procedure or action used to support strategy in order to achieve goals and objectives.

• Objective

• Mission

• Strategy

• Tactic

An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.

• Objective

• Vision

• Strategy

• Tactic

A route or plan of action designed to achieve certain goals and objectives is known as which of the following?

• strategy

• function

• department

• 
  mission

The reason why a company exists - its purpose - is best known as which of the following?

• the company’s vision

• the company’s strategy

• the company’s mission

• 
  the company’s success