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A strategic plan may cover multiple years and be updated periodically. The organization may use a variety of methods of measuring and monitoring progress towards the strategic objectives and measures established, such as a balanced scorecard or strategy map. Organizations may also plan their financial statements (i.e., balance sheets, income ...
Mckeown argues that a strategic gap may be transformed into a strategic stretch. [ 2 ] Often unseen, the strategy gap is a threat to the future performance—and even survival—of an organisation and is guaranteed to impact upon the efficiency and effectiveness of senior executives and their management teams .
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 purpose of articulating the strategy is to translate the strategy into a form where managers and stakeholders agree consensually on what needs to be achieved [4] [8]. The strategy articulation will describe the strategic outcomes to be achieved, preferably expressed in the form of quantitative or qualitative goals. [9]
Act guided by a strategic posture, in order to clarify your intent strategy. This posture includes shaping: leading the organization's structure towards a new model; adapting: choosing how and where to compete within the current industry; reserving the right to play: increasing the investment to stay in the game without modifying the strategy.
Strategic planning's role is "to realise and to support strategies developed through the strategic thinking process and to integrate these back into the business". [14] Henry Mintzberg wrote in 1994 that strategic thinking is more about synthesis (i.e., "connecting the dots") than analysis (i.e., "finding the dots"). It is about "capturing what ...
But establishing a way to shoot missiles down from space is something the U.S. has not pursued since President Ronald Reagan announced the Strategic Defense Initiative — “Star Wars” as it ...
Strategic growth platforms usually take from 3 to 6 years to implement and give the desired results being long term initiatives. On the other hand, Tactical growth platforms take less time to implement as they are shorter term initiatives and both the initiative and the results are based on the current budget year of the particular business. [2]