strategic (adjective, stra-te-gic, \ strəˈtiːdʒɪk \) variables (noun, var-i-a-bles, \ ˈveriəbəlz \)
Definition: include a set factors and conditions such as the state of a country’s economy, market alterations, taxation laws, government regulations, demographic changes, consumer behavior patterns, technological advancements, and several others that directly affect the external environment of a business, and, thus, have a significant impact on its strategic goals. Changes that occur in strategic variables require organizations to adapt to the new circumstances and search for alternative methods to reach their financial objectives.
In a Sentence:
- During the development cycle of our new smartphones, our company has witnessed several changes to its strategic variables.
- Due to the constantly increasing competition on the market, consumer behavior has become one of the most unpredictable strategic variables.
- After we’ve determined which strategic variables will most likely affect our business, we’ve proceeded to the next step of our business plan.
Synonyms and related words: independent variable, confounding variables, demographic variables, risk variable
