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Definition
| Systematic studying of an issue and the preparation of a written document to deal with the problem. |
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| long-range planning done by the highest management levels in the company, including the president,vice president, and chief operating officer. |
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| Grand/Corporate strategies |
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Definition
| Provide overall direction for the company |
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| Plans developed when a company tries to expand sales, products, or number of employees |
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| A plan to keep the company operating at the same level that it has for several years |
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| Defensive/Retrenchment strategy |
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Definition
| A plan to reverse negative trends in a company, such as losses in sales. |
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| A plan that employs several different strategies at once |
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| Plans that pertain to single departments or units within a company. |
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| Strategy is designed to produce and deliver a product or service for a lower cost than the competition. |
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| A strategy that strives to make the product or service unique. |
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| Short-range operational plans that support business strategies by emphasizing practical implementation. |
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Definition
| The application of the basic planning process at the highest levels of the company. |
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Definition
| Developing the grand- and business-level strategies to be used by the company. |
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| Outlines why the company exists |
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| Are concise statements that provide direction for employees and set standards for achieving the company's strategic plan. |
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Definition
| An acronym for strengths, weaknesses,opportunities, and threats. |
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Definition
| The action stage of strategic management |
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Definition
| The process of continuously monitoring the company's progress toward its long-range goals and missions. |
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