BM I 1.03 Vocab

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Goal

Back

A desired future state that an organization attempts to realize.

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Plan

Back

A blueprint specifying the resource allocations, schedules, and other actions necessary for attaining goals.

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SWOT analysis

Back

Analysis of the strengths, weaknesses, opportunities, and threats that affect organizational performance.

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Differentiation

Back

A type of competitive strategy with which the organization seeks to distinguish its products or services from those of competitors.

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Focus

Back

A type of competitive strategy that emphasizes concentration on a specific regional market or buyer group.

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Planning

Back

The act of determining the organization's goals and the means for achieving them.

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Organizational planning process

Back

Develop the plan, translate the plan, operate the plan, execute the plan, and monitor and learn.

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Organizational mission

Back

The organization's reason for existence.

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Mission statement

Back

A broadly stated definition of the organization's basic business scope and operations that distinguish it from similar types of organizations.

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Strategic goals

Back

Strategic goals describe where the organization wants to be in the future.