Search results
Results from the WOW.Com Content Network
The strategic grid model is a contingency approach that can be used to determine the strategic relevance of IT to an organization. The model was proposed by F. Warren McFarlan and James L. McKenney in 1983, and takes the impact of the information technology on the strategy in future planning as the horizontal axis, and the current impact of the information technology on corporate strategy as ...
The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth. [1] It is named after Russian American Igor Ansoff , an applied mathematician and business manager, who created the concept.
A strategic group is a concept used in strategic management that groups companies within an industry that have similar business models or similar combinations of strategies. For example, the restaurant industry can be divided into several strategic groups including fast-food and fine-dining based on variables such as preparation time, pricing ...
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. Business analytics focuses on developing new insights and understanding of business performance based on data and statistical methods .
[10] The work of Henry Mintzberg [11] [12] and other authors, [13] [14] [15] further support the conclusion; and also draw a clear distinction between strategic thinking and strategic planning, another important strategic management thought process. [6] [16]
Business analysis is a professional discipline [1] focused on identifying business needs and determining solutions to business problems. [2] Solutions may include a software-systems development component, process improvements, or organizational changes, and may involve extensive analysis, strategic planning and policy development.
Business management – management of a business – includes all aspects of overseeing and supervising business operations. Management is the act of allocating resources to accomplish desired goals and objectives efficiently and effectively; it comprises planning, organizing, staffing, leading or directing, and controlling an organization (a ...
[10] Partnerships: Business partners would share assets and liabilities, allowing for a new source of capital and skills. [11] Businesses must be able to identify whether the collaborator has the capabilities needed to help run the business as well as an analysis on the level of commitment needed for a collaborator-business relationship. [7]