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BUSINESS STRATEGY AN
BE
| Term | Definition |
|---|---|
| business strategy | long-term plan outlining a company's direction, objectives, and actions to achieve a competitive advantage |
| vision | an aspirational description of what a company wants to achieve in the future |
| mission | a statement that outlines a company's purpose and core values |
| goals | broad, long-term aims that organizations work towards to fulfill their mission |
| objectives | specific, measurable, achievable, relevant, and time-bound targets that support goals |
| core values | fundamental beliefs that guide a company's behavior and decision-making |
| swot analysis | a framework to assess a company's strengths, weaknesses, opportunities, and threats |
| tactics | specific actions or steps taken to achieve objectives |
| competitive advantage | a unique benefit that allows a company to outperform its competitors |
| long-term plan | strategy that spans several years and outlines the company's direction and priorities |
| roadmap | a visual representation of the steps and milestones in a strategy or plan |
| resource allocation | the process of distributing resources to achieve objectives |
| decision-making | the process of choosing a course of action from multiple options |
| strategic planning | the process of defining a company's strategy and making decisions on resource allocation |
| key performance indicators (kpis) | quantifiable measures used to evaluate the success of an organization in meeting objectives |
Created by:
LexyLessons
Popular English Vocabulary sets