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In other words, the business strategy must be translated into a set of clear short-term operating objectives (activities and outcomes) in order to execute the strategy. Key issues, elements, and needs of strategy must be translated into objectives, action plans, and “scorecards” and this translation is an integral and vital part of the ...
Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity. [15] Strategic management is often described as involving two major processes: formulation and implementation of strategy.
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.
Strategy as position – locating brands, products, or companies within the market, based on the conceptual framework of consumers or other stakeholders; a strategy determined primarily by factors outside the firm; Strategy as ploy – a specific maneuver intended to outwit a competitor; and
A tactic is a conceptual action or short series of actions with the aim of achieving a short-term goal. This action can be implemented as one or more specific tasks. The term is commonly used in business, by protest groups, in military, espionage, and law enforcement contexts, as well as in chess, sports or other competitive activities.
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Business strategy is the primary driver of BPR initiatives and the other dimensions are governed by strategy's encompassing role. The organization dimension reflects the structural elements of the company, such as hierarchical levels, the composition of organizational units, and the distribution of work between them [citation needed].
This is the least effective of the four strategies. It is without direction or focus. Miles, Snow et al. (1978) have identified three reasons why organizations become reactors: Top management may not have clearly articulated the organization's strategy. Management does not fully shape the organization's structure and processes to fit a chosen ...