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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.
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.
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.
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.
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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 ...
In management, a strategy map is a diagram that documents the strategic goals being pursued by an organization or management team.It is an element of the documentation associated with the Balanced Scorecard, and in particular is characteristic of the second generation of Balanced Scorecard designs that first appeared during the mid-1990s.
Operational planning (OP) is the process of implementing strategic plans and objectives to reach specific goals. [1] An operational plan describes the specific steps in any given strategic planning model and explains how and what portion of resources will be put into operation during a given operational period: in the case of commercial-or government budget balance, a fiscal year.
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