Page 66 - Introduction to strategic management

Glossary

• Objectives - Objectives are defined as goals that
O organization wants to achieve over a period of time.

• Organization – Organization is a social unit of people
that is structured and managed to meet a need or to

pursue collective goals. All organizations have a
management structure that determines relationships

between the different activities and the members, and
subdivides and assigns roles, responsibilities, and
authority to carry out different tasks.

• Substitutes – Substitutes are different goods that, at
least partly, satisfy the same needs of the consumers
S and, therefore, can be used to replace one another.

• Strategic Intent - Strategic intent of an organization is

the purpose that it exists and why it will continue to
exist, providing it maintains a competitive advantage.

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