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Scenario planning is as much art as science, and prone to a variety of traps (both in process and content) as enumerated by Paul J. H. Schoemaker. [14] More recently scenario planning has been discussed as a tool to improve the strategic agility, by cognitively preparing not only multiple scenarios but also multiple consistent strategies. [10]
The OGSM framework forms the basis for strategic planning and execution, as well as a strong management routine that keep the plan part of the day-to-day operations. It aligns the leaders to the objective of the company, links key strategies to the financial goals, and brings visibility and accountability to the work of improving the ...
The business model canvas is a strategic management template used for developing new business models and documenting existing ones. [2] [3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
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In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Articles relating to strategic management, the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
Foresight is not the same as futures research or strategic planning. It encompasses a range of approaches that combine the three components mentioned above, which may be recast as: futures (forecasting, forward thinking, prospectives), planning (strategic analysis, priority setting), and; networking (participatory, dialogic) tools and orientations.
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