Examlex
Please define the following key terms.
-pig iron
Strategy
The set of actions taken to accomplish organizational objectives.
Product Development
The complete process of bringing a new product or service to market, from the initial idea through design and manufacturing, to sale.
Existing Markets
Markets that already have an established customer base, product offerings, and competitive landscape, as opposed to newly created or emerging markets.
Situation Analysis
An assessment process that identifies an organization's internal strengths and weaknesses, along with external opportunities and threats in its environment.
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