Strategic Mission: Definition, Mission Statements and Examples

Strategic Mission

Definition: A Strategic Mission defines the unique purpose of an organization’s scope of operations. It is a high-level long-term plan that an organization aims to achieve. A mission statement explains why the organization exists, its purpose, and what it serves. A mission statement supports the organization’s corporate strategy. A strategic mission statement should be exciting …

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Strategic Management: Definition, and Process

Strategic Management

Definition: Strategic management is an ongoing process of planning, executing, and then monitoring and controlling the process to ensure the business achieves its objectives. The business environment is dynamic, and organizations need to review the current situation and adjust their strategies to stay ahead of the competition. Strategic management provides direction for an organization, its …

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Strategic Objectives: Defintion, Examples, and Types

Strategic Objectives

Definition: A strategic objective is a high-level goal for an organization. It describes measurable steps to achieve a goal and sets the deadline for an organization. A strategic objective is specific and measurable. Strategic objectives help businesses align with organizational goals and improve decision-making and productivity. It affects the whole organization and its culture. Types …

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Value Chain Analysis: Definition, Example, and McDonald’s Case Study

Value Chain Analysis

Every business aims to make a profit while offering value to consumers. They are always looking for ways to gain a competitive edge. Staying ahead helps them grow their business and brand.  Value can ensure that consumers repeatedly buy from the business among many alternatives. So, how can a business gain a competitive advantage, offer …

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