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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.
[4] The Hoshin Kanri technique is often aided with a Hoshin Kanri Matrix , on which companies list and align their various-length objectives and goals. The matrix can also incorporate Key Performance Indicators and priority values and be accompanied by detailed plans, resource assignment demands, or value stream maps.
Once the strategy is determined, various goals and measures may be established to chart a course for the organization, measure performance and control implementation of the strategy. Tools such as the balanced scorecard and strategy maps help crystallize the strategy, by relating key measures of success and performance to the 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.
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.
The word ethnocentrism derives from the Greek word "ethnos", meaning "nation" or "people," and the English word center or centrism. [4] A common phrase set for ethnocentrism is " tunnel vision ". In this context, ethnocentrism is the view that a particular ethnic group's system of beliefs and values is morally superior to all others. [ 4 ]
The NFL playoffs are nearly in sight and the heat is on for some teams still in the fight to make the postseason.. Week 15 saw the number of teams that have qualified for the playoffs increase to ...
Porter's four corners model is a predictive tool designed by Michael Porter that helps in determining a competitor's course of action. Unlike other predictive models which predominantly rely on a firm's current strategy and capabilities to determine future strategy, Porter's model additionally calls for an understanding of what motivates the competitor.