MEMBERS: BM 4A

DOCTOR, BEATRICE Y.
DUROJA, PATRICIA NAOMI H.

1. Competitive Advantage
-an attribute that enables a company to outperform its competitors. These competitive
advantages allow the entity to generate more sales or superior margins compared to its
market rivals.
2. Strategists
-are people who are involved in the strategic management process. Strategists for major
decisions may be the board of director, president, the CEO, the COO, and the division
managers.
3. Vision & Mission Statements
-A Mission statement defines the company’s business, its objectives and its approach
to reach those objectives. A Vision statement describes the desired future position of
the company. These statements are concise, inspiring statements that clearly
communicate the direction and values of an organization.
4. External Opportunities & Threats
-Opportunities are external factors in the business environment that are most likely to
contribute to the success of the business. Threats are external factors that cannot be
controlled that may affect a business negatively.
5. Strengths & Weaknesses
-Both Strengths and Weaknesses are used in creating a SWOT analysis, both of which
are internal aspects of an organization. Strengths are what a company excels at and
what separates it from the competition. Weaknesses are aspects where the business
needs to improve to remain competitive and what is stopping an organization from
performing at its optimum level.
6. Long-Term Objectives
-are performance goals of an organization which are intended to be achieved over a
period of five years or longer. These usually include specific improvements in the
organization’s competitive position, profitability, return on investment, and corporate
image.
7. Strategies
-these are clear sets of plans, actions and goals that outlines how a business will
compete in a particular market, or markets, with a product or number of products or
services
8. Objectives
-are the end results of a planned activity describing what has to be accomplished by
when, and quantified if possible.
9. Policies
-these are the guidelines created by an organization to govern its actions. These set the
limitations in which decisions must be made as well.
Sources:
1. Competitive Advantage
https://www.investopedia.com/terms/c/competitive_advantage.asp
2. Strategists
https://www.introduction-to-management.24xls.com/en212
3. Vision & Mission Statements
https://www.mindtools.com/pages/article/newLDR_90.htm
https://www.bain.com/insights/management-tools-mission-and-vision-
statements/#:~:text=A%20Mission%20Statement%20defines%20the,company's
%20purposes%2C%20goals%20and%20values.
4. External Opportunities & Threats
https://www.liveplan.com/blog/what-is-a-swot-analysis-and-how-to-do-it-right-with-
examples/
5. Strengths & Weaknesses
https://www.investopedia.com/terms/s/swot.asp
6. Long-Term Objectives
https://www.monash.edu/business/marketing/marketing-dictionary/l/long-term-objectives
7. Strategies
https://www.imd.org/imd-reflections/reflection-page/business-strategy/
8. Objectives
Strategic Management and Business Policy Toward Global Sustainability, 13th edition
by Wheelen and Hunger
9. Policies
https://www.managementstudyguide.com/business-policy.htm