| A | B |
|---|
| Management | Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. |
| Vision Statement | Aspirational description of what an organization would like to achieve. It is something to be pursued |
| Mission Statement | A firm's core purpose and focus which normally remain unchanged. It is something to be accomplished |
| Goal | An observable and measurable end result having one or more objectives to be achieved within a fixed timeframe. Always be answered with a yes/no question. |
| SWOT Analysis | Internal strengths and weaknesses of an organization, and external opportunities and threats faced by it are closely examined to chart a strategy |
| Strategic Planning | A logical process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them. Begins with the desired-end and works backward to the current status. |
| Long-term Planning | Planning which begins with the current status and lays down a path to meet estimated future needs. |
| Tactical Planning | Systematic determination and scheduling of immediate or short-term activities required in achieving the objectives of strategic planning. |
| Objectives | A purpose that can be achieved within the expected timeframe and with the available resources. Broader in scope than a goal, and may be made of several different goals. The most basic planning tools which serve as the basis for policy and performance appraisals. |
| Organizing | Assembling required resources to attain organizational objectives. |
| Analyzing | To study and interpret past, present and projected corporate, economic and market information in order to make predictions about the future. |
| Resources | Productive factor used to achieve a desired outcome for a business. The basic ones include land, labor, and capital. |
