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Categories 3 and 4 are strategic planning, while the first two categories are non-strategic or essentially financial planning. Each stage builds on the previous stages; that is, a stage 4 organization completes activities in all four categories. [12]
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision-makers see how specific projects relate to the organization's strategic plan.
Integrated Business Planning (IBP) is a strategic process that aligns an organization's business objectives with its operational and financial plans to ensure cohesive decision-making and optimized performance. It serves as an evolution of traditional sales and operations planning (TS&OP), extending its scope to integrate all necessary to ...
In the strategic plan, there is an item budget, evaluation method, and funding source/amount/timeline. The itemized budget is broken down into the years of the plan. Money is divided up into amounts that will be used for each year. The evaluation method collects data and disaggregates it to determine the outcomes.
Strategy Markup Language (StratML) is an XML-based standard vocabulary and schema for the information commonly contained in strategic and performance plans and reports. StratML Part 1 specifies the elements of strategic plans, including: mission, vision, values, goals, objectives, and stakeholders.
Aug. 30—A failure to plan is a plan for failure. So to that end, Albuquerque Public Schools officials and school board members unveiled a five-year strategic plan, about a year in the making, to ...
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