Page 65 - Introduction to strategic management

Glossary

• Goal - A goal is a desired future state or objective that an

G organization tries to achieve. Goals specify in particular
what must be done if an organization is to attain its
mission or vision.

• Growth Strategy - Growth strategy is a strategy aimed at

winning larger market share, even at the expense of
short-term earnings.

• Mission Statement - Mission statement is the
M statement of the role by which an organization intends
to serve its stakeholders.

• Macro-environment - Macro-environment is the major
external and uncontrollable factors that influence an

organization's decision making, and affect its
performance and strategies. These factors include the
economic factors, demographics, legal, political, and

social conditions; technological changes; and natural
forces.

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