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6 Cards in this Set
- Front
- Back
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Strategy
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An action plan designed to move an organization toward achievement of its vision
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Mission
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Defines the firm's core intent and the business or businesses in which it intends to operate
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Vision
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Contains at least two components-a mission that describes the firm's DNA and th "picture" of the firm as it hopes to exist in a future time period
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Strategic Management
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The ongoing process companies use to form a vision, analyze their external environment and their internal environment, and select one or more strategies to use to create value for customers and other stakeholders, especially shareholders
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External Environment
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A set of conditions outside the firm that affect the firms performance
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Internal Environment
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the set of conditions(such as strengths, resources, and capabilities, and so forth) inside the firm affecting the choice and use of strategies
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