strategic (adjective, stra-te-gic, \ strəˈtiːdʒɪk \) priorities (noun, pri-or-i-ties, \ praˈjɔːrətiz \)
Definition: is a regularly updated list of a company’s strategic objectives sorted by their importance in helping the organization achieve the goals set by the upper management. All the following operational and tactical plans, as well as resource and budget allocation, is done on the basis of the agreed upon strategic priorities. For example, if the economy in a country is suffering from a downfall, most businesses set cost control as one of its strategic priorities.
In a Sentence:
- Since we are planning to switch our efforts to conquer the online market, the development of new strategic priorities seems inevitable. This means that we’ll have to allocate a substantial amount of our budget and resources to the SMM department.
- The strategic priorities adopted by our company suggest that we can’t ignore the decrease in sales in the 16-21 age group. As a non-alcoholic beverage manufacturer, it’s too big of a market segment for us to ignore.
Synonyms and related words: company strategy, company goal, organizational priorities, operational priorities, strategic planning terms