| benchmarking | A technique for measuring a firm's performance against the performance of others that may be in the same or a completely different industry
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| bottom-up planning | Planning process that begins at the lowest level in the organization and continues upward
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| competitive advantage | The ability of a company to have higher rates of profits than its competitors
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| competitive strategies | Action plans to enable organizations to reach their objectives
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| competitor analysis | Process in which principal competitors are identified and their objectives, strengths, weaknesses, and product lines are assessed
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| competitor intelligence system (CIS) | Procedure for gathering, analyzing, and disseminating information about a firm's competitors
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| contingency plans | Plans for the best- or worst-case scenarios or for critical events that could have a severe impact on the firm
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| industrial espionage | Act of spying on a competitor to learn secrets about its strategy and operations
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| international strategy | The way firms make choices about acquiring and using scarce resources in order to achieve their international objectives
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| iterative planning | Repetition of the bottom-up or top-down planning process until all differences are reconciled
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| mission statement | A broad statement that defines the organization's purpose and scope
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| scenarios | Multiple, plausible stories about the future
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| top-down planning | Planning process that begins at the highest level in the organization and continues downward
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| values statement | A clear and concise description of the fundamental values, beliefs, and priorities of the organization's members.
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| vision statement | A description of the company's desired future position if it can acquire the necessary competencies and successfully implement its strategy
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