Strategic Management Terms (Part 2)

A cognitive process that involves the generation and application of unique business insights.

Visual representation of the competitive positions of companies in an industry.

The arenas where firms obtain inputs to develop and implement strategies.

A moment when an organization must change its strategy to succeed in the future.

A specific action or project designed to help achieve an organization's strategic goals.

Using accounting information for strategic decision-making.

A dedicated meeting where organizational leaders focus on strategic planning away from the usual work environment.

The potential for an organization's strategy to fail or be negatively impacted by external factors.

Tools and processes used to monitor and adjust an organization's strategy.

A company that imitates the strategies of other successful firms.