Search results
Results from the WOW.Com Content Network
Strategic management processes and activities. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."
Several theorists have recognized a problem with this static model of the strategy process: it is not how strategy is developed in real life. Strategy is actually a dynamic and interactive process. Some of the earliest challenges to the planned strategy approach came from Linblom in the 1960s and Quinn in the 1980s.
The system of strategic concepts listed in a statement of intent, purpose, principles, frames or conceptual metaphor are organizing principle(s). [35] Also, as Karl Weick explains sensemaking as the process of conceptualising problems, concept-driven strategy might be thought of as a pragmatic means of sensemaking a strategy. [36]
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Strategy as perspective – executing strategy based on a "theory of the business" or natural extension of the mindset or ideological perspective of the organization. [ 21 ] Complexity theorists define strategy as the unfolding of the internal and external aspects of the organization that results in actions in a socio-economic context.
A business process modeling of a process with a normal flow with the Business Process Model and Notation. Business process modeling (BPM) is the action of capturing and representing processes of an enterprise (i.e. modeling them), so that the current business processes may be analyzed, applied securely and consistently, improved, and automated.
A business process, business method, or business function is a collection of related, structured activities or tasks performed by people or equipment in which a specific sequence produces a service or product (that serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels ...
The process of business model design is part of business strategy. Business model design and innovation refer to the way a firm (or a network of firms) defines its business logic at the strategic level. In contrast, firms implement their business model at the operational level, through their business operations.