Business Strategy & Planning Concepts

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What is a Business Strategy?

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A plan that outlines how a company will achieve its goals and compete in the market.

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What is a Vision Statement?

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A future-oriented declaration of what a company wants to become or achieve.

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What is a Mission Statement?

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A short statement that defines the purpose of the organization and its approach to reach objectives.

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What is SWOT Analysis?

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A tool for evaluating a company’s internal Strengths and Weaknesses, and external Opportunities and Threats.

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What is the difference between Goals and Objectives?

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Goals are broad, long-term aims, while Objectives are specific, measurable steps to achieve those goals.

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What is a Tactical Plan?

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A short-term, actionable plan to implement parts of a broader strategy.

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What is a Strategic Plan?

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A long-term, high-level document that defines a company’s direction and major goals.

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What is the Business Model Canvas?

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A visual framework to describe, design, and analyze a company’s business model.

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What are Core Competencies?

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Unique strengths or abilities that give a company a competitive edge.

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What is Competitive Analysis?

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Researching and evaluating competitors to understand their strengths, weaknesses, and strategies.