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Business analytics (BA) refers to the skills, technologies, and practices for iterative exploration and investigation of past business performance to gain insight and drive business planning.
Strategic alignment encompasses not only technical and functional activities, but also issues relating to human resource management (and how best to develop people's motivation and capability). Studies suggest that the alignment of business strategy and HR strategy can impact performance. [4]
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.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
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.
Qualified CLOs should be able to drive the corporate strategy and align the development of people with the business goals of the organization. A full complement of skills, including business analytics, technology, learning theory, performance consulting and scientific inquiry, are important for success. [1]
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By aligning monthly, quarterly, and annual planning cycles, IBP ensures a comprehensive approach, eliminating discrepancies arising from disparate starting points and data sets. 3. Integrating across multiple Planning Horizons: Short and Medium-Term Planning : IBP facilitates collaboration between sales and marketing teams to capture demand and ...