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| Strategic planning: | The process of determining long-term goals and objectives and developing plans to achieve business success and profitability. |
| SWOT: | A tool used in the strategic planning process to evaluate the internal strengths and weaknesses of an organization and the external opportunities and threats. |
| Mission: | The guiding and long-term statement that describes the organization’s purpose and beliefs. |
| Vision: | statement that provides a mental picture of an organization’s future. |
| Competitive surveys: | Analysis of similar organizations in the community. Typically includes price, product or service information for each organization. |
| Strategic thinking: | The process of thinking both creatively and analytically about the long term and big picture goals and objectives of an organization. |
| Action plan: | This is the term used to describe the activities that must be taken to achieve a strategy or goal. There are four major sections: description of each specific step in terms of the task to be performed, the timeline to perform each step, the person or people who are responsible for each task, and the resources needed to perform each task. |
| Strategy: | A plan, method or series of actions to obtain a long-term goal. |
