an organization’s reason for existence, its value and beliefs, and what it should be doing

an organization’s basic long-term goals and objectives; including courses of action and allocation of resources in order to reach those goals

a firm’s ability to generate superior economic performance and outperform its competitor because managers are able to create more value and meet customer needs in the marketplace

unique skills, knowledge, and abilities of managers and employees in value-creating activities

an organization’s ability to coordinate and direct its specialized resources to create the most value such as effective control systems and adaptable and open organizational culture