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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. [10] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans ...
For example, a business plan for a non-profit might discuss the fit between the business plan and the organization's mission. ... is a business management strategy ...
The business model canvas is a strategic management template that is 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.
Differentiation strategy is not suitable for small companies. It is more appropriate for big companies to apply differentiation in any one or several of the functional groups (finance, purchase, marketing, inventory etc.). [5] This point is critical. For example, GE uses its finance division differentiate itself.
Operational planning (OP) is the process of implementing strategic plans and objectives to reach specific goals. [1] In an Introduction to Management and Organizational Behavior, Barbara Carlin and Marina Sebastijanovic suggest that operational planning is one of the four basic types of planning involved in organizational management.
Growth planning is a strategic business activity that enables business owners to plan and track organic growth in their revenue. It allows businesses to allocate their limited resources toward a centered effort to adapt to changes in the industry driven by digital disruption and differentiate from competitors. The strategies and tactics ...