Define Strategic Management, Vision, Mission, Values, Goals, Objectives, Strategy, and Tactics

question 42

Essay

Define strategic management, vision, mission, values, goals, objectives, strategy, and tactics.

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Definitions:

Independently

Acting on one's own; making decisions or taking action based on one's own judgment without relying on others.

Commons Dilemma

A situation in which individuals' short-term selfish interests are at odds with long-term group benefits, leading to the overuse or depletion of common resources.

Accountable

Being responsible or answerable for one's actions or the execution of duties, often involving a level of transparency.

Transactive Memory

A shared system of remembering information among members of a group, allowing the group to store, encode, and retrieve information more effectively than individual members working alone.