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Describe why a mission statement is so important in the strategic-management process.
Economic Growth
The increase in the production of goods and services in an economy over a period of time, typically measured as the annual rate of increase in real GDP.
Portfolio Return
The overall gain or loss experienced by an investment portfolio over a specified period.
Stock Returns
The gain or loss made on an investment in shares, generally represented as a percentage of the investment’s initial cost.
Business Cycle
The fluctuation of economic activity that an economy experiences over a period of time, marked by phases of expansion and contraction.
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