8. What is Strategic Planning? Strategic planning is a systematic process through which an organization agrees on and builds commitment among key stakeholders to priorities that are essential to its mission and are responsive to the environment. Strategic Planning guides the acquisition and allocation of resources to achieve these priorities.
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22. Five Forces Model of Competition Substitute Products (of firms in other industries) Suppliers of Key Inputs Buyers Potential New Entrants Rivalry Among Competing Sellers
43. Bounded Rationality Limited Search Inadequate Information and Control Decisions Satisficing
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47. Cultural and Social Influences Decision-Making Process MOTI VATION Perception Learning and Memory Attitudes AFFECT Problem Recognition Search Evaluation Choice Outcomes Ethnicity, Race, and Religion Household and ref. groups Socio-Econ: income,educ. Demographic:Gender, Age Psychographics: Lifestyle, Person. Basic Psychological Processes