strategic (adjective, stra-te-gic, /strəˈtiːdʒɪk/) statement (noun, state-ment, /ˈsteɪtmənt/)
Definition: is a concise description of a business’s or a company’s major strategy in terms of using its opportunities and advantages, avoiding the risks, and succeeding with its business goals. Typically, a strategic statement contains an objective of the business, its competitive advantage, and a scope of its operations. A strategic statement serves a couple of roles, one of which includes helping the employees understand their duties and roles within the company better. This way, a business and its operations stay focused on the main objectives and don’t get pulled in different directions.
In a Sentence:
- Defining your main strategic objective is the first step in creating a clear strategic statement.
- You might want to include a short explanation of your business mission in your strategic statement to help the employees understand the purpose of this company better.
- A strategic statement is impossible to develop effectively if you don’t a have a definite, potentially successful product strategy.
Synonyms and related words: strategy statement, strategic analysis, strategic objective, strategic direction, strategic agility, core strategy