Page 10 - PowerPoint Presentation
P. 10
STRATEGY AND GOVERNANCE
Important Terminology
• Strategy
• the plan of action to achieve the entity’s long-term goals
(how the entity will use its resources and capabilities to
achieve its goals and meet shareholder needs, interest
and expectations).
• Strategic analysis
• formulation of a mission and vision, setting goals and
objectives, and analysing the internal and external
environment.
• Once a strategic analysis has been completed and
the strategy is outlined, it tells stakeholders exactly
how the entity intends to fulfil its mission and
achieve its vision.
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