Key Terms and Concepts
annual objectives (p. 12)
competitive advantage (p. 8)
empowerment (p. 16)
environmental scanning (p. 11)
external opportunities (p. 10)
external threats (p. 10)
internal strengths (p. 11)
internal weaknesses (p. 11)
long-range planning (p. 5)
long-term objectives (p. 12)
mission statements (p. 10)
strategic management (p. 5)
strategic planning (p. 5)
strategies (p. 12)
strategists (p. 8)
strategy evaluation (p. 6)
strategy formulation (p. 5)
strategy implementation (p. 6)
vision statement (p. 10)
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