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The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. [ citation needed ] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and ...
Miles and Snow identify three types of competitive strategies, those adopted by defender, analyzer and prospector types of organization, and a fourth, non-strategic type of organization, whose competitive behaviour is reactive to the perceived environmental conditions within which it operates. [2]
Hoshin Kanri (Japanese: 方針管理, "policy management") [1] is a 7-step process used in strategic planning in which strategic goals are communicated throughout the company and then put into action. [2] [3] The Hoshin Kanri strategic planning system originated from post-war Japan, but has since spread to the U.S. and around the world.
Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic ...
Strategy allows managers to focus on an organization's long-term plan and ensure that mission objectives are met. Organizational strategy explores the relationship between unit and the environment. It involves action—matching skills and resources with opportunities and threats.
The number of terms that get used during strategy making seems at times almost endless and includes such words as Vision, Mission, Fact Base, KPI, Goal, Objective, Scorecard, Driver, Strategic Action Plan, Strategic Issue Analysis, Governing Principle, and Metric to name a few. Establishing a common vocabulary begins and ends by getting ...
Value-based health care (VBHC) is a framework for restructuring health care systems with the overarching goal of value for patients, with value defined as health outcomes per unit of costs. [1] The concept was introduced in 2006 by Michael Porter and Elizabeth Olmsted Teisberg , though implementation efforts on aspects of value-based care began ...
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.