| A | B |
|---|
| business plan | a written description of the nature of the business, its goals and objectives, and how they will be achieved |
| competitive advantage | the special capabilities of a company that allows it to create a product or service that is measurably better than their competitors |
| strategic planning | long term planning that provides broad goals and direction for the entire business |
| operational planning | short term planning that identifies specific goals and activities for each part of the business |
| SWOT analysis | the examination of a companies strengths, weaknesses, opportunities and threats |
| mission | short specific statement of the business purpose and direction |
| vision | the companies reason for existing |
| goal | a specific statement of a result the business expects to achieve |
| budget | a written financial plan for business operations developed for a specific period of time |
| schedule | a time plan for reaching objectives |
| standard | a specific measure against which something is judged |
| policy | guideline for making decisions regarding specific recurring situations |
| procedure | a sequence of steps to be followed for performing a specific task |
