Explain the Relationship of the Strategic Management Process to Organizational

question 35

Essay

Explain the relationship of the strategic management process to organizational ethics.

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Definitions:

Return on Marketing Investment

The profitability and efficiency of marketing efforts, measured by the revenue generated from marketing activities divided by the cost of those activities.

Mission Statement

A concise declaration of an organization's core purpose and focus that informs its strategies and decision-making.

Business Directive

A formal instruction or policy issued by a company's upper management outlining goals, strategies, or actions to be taken by the organization.

Customer Value

The perceived benefits, both monetary and nonmonetary, that a customer receives from a product compared with the cost of obtaining it.