Describe the concepts of strategic vision (intent), mission, and goals
Mission - An organization’s basic purpose and scope of operations
Strategic vision – The long-term direction and strategic intent of a company
Goals - A target or end that management desires to reach. Goals should be SMART - specific, measurable, attainable, relevant, time-bound

Explain what a Core Competency means for an organization
Core Competence – A unique skill and/or knowledge an organization possesses that gives it an edge over competitors. When resources are valuable, rare, imitable, and organized, they can be viewed as a company’s core competence.

Describe what Porter's Five Forces Model is and how it is used in the strategic planning process * Rivalry * The threat of substitutes * Buyer Power * Supplier Power * Barriers to Entry

The competitive environment includes rivalry among current competitors and the impact of new entrants, substitute and complementary products, suppliers, and customers, In strategic decision making, Porter’s model is an excellent method to help managers analyze the competitive environment and adapt to or influence the nature of their competition.

Explain the components of a SWOT analysis
A comparison of strengths, weaknesses, opportunities, and threats that helps executives formulate strategies. Managers formulate a strategy that will build on the SWOT analysis to take advantage of available opportunities by capitalizing on the organization’s strengths, neutralizing its weakness, and countering potential threats.

Understand the types of corporate strategies that organizations can use and describe them
Corporate Strategy - identifies the set of businesses, markets, or industries in which the organization competes and the distribution of resources among those businesses.
Concentration Strategy - focuses on a