Internal document that will (1) outline the philosophy, purpose and direction of the organization (2) examine its current status, SWOT analysis, (3) set long term objectives and (4) set short term tactics

Organizational unit or autonomous division that is flexible and can exercise control over factors that effect long term performance.

A factor that is critical in determining the failure or success of the strategy of an organization.

Transition time of a company’s competition requiring the company to change its current path and adapt or risk losses of profit.

Developed by Dry, Charles Wiseman in 1982, used in information systems and created to respond to business initiatives and give a competitive advantage.

Large stock of essential materials and goods to withstand a long period of scarcity caused by a natural disaster, war or strike action. See strategic stockpiles.

Factors that affect the organization’s external environment and its strategic objectives.

Ideas for creating a business with direction and actions.

1. Classification of large quantity of data into groups based on criteria exhibited. 2. Society’s hierarchical arrangement into layers based on features such as gender, race, age.

1. Draft or outline copy ready for suggestions and comments. 2. Third party used as a cover in illegal or shady deals. 3. Nominee director. 4. A weak or flawed person with

Improving the processes, organizations or businesses efficiency through simplifying steps.

A market broker who operates over the counter and not a broker from the stock exchange.

A retail price lower than that advertised and which can vary daily.

Being able to take care of yourself in an environment that can be dangerous.

1. Ability to resist force or pressure. 2. Knowledge, skill, capital or an advantage over competition. See SWOT analysis.

Aspects, both positive and negative of internal and external environments under control of the decision maker. See SWOT analysis.

1. Engineering. Force or load per unit area which will cause deformation of the body it is acting on. See strain. 2. Psychology. (1) As the cause that can lead to a

In manufacturing it is a test performed to determine the load a system can take before its limit is reached or it breaks down.

Goal that can’t be attained by steps but needs extending to the limit to be realized.

Shrink-wrap is similar, a plastic film tightly wrapped around goods or packages. Not heat shrunk but tightly stretched.