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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. Strategic planning became prominent in corporations during the 1960s and remains ...
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. [4][5 ...
Strategic planning is a means of administering the formulation and implementation of strategy. 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 ...
Strategy implementation requires the following activities to be undertaken: Strategy articulation - Building consensus within the team responsible for delivery of the strategy about the outcomes to be achieved. Strategy validation - Engaging with stakeholders and others to confirm strategic outcomes being pursued are acceptable.
Strategy. SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is sometimes called situational assessment or situational analysis. [1]
The rational planning model is a model of the planning process involving a number of rational actions or steps. Taylor (1998) outlines five steps, as follows: [1] Monitoring of effects of plans/policies. The rational planning model is used in planning and designing neighborhoods, cities, and regions. It has been central in the development of ...
The strategy map is a device that promotes three stages of conversation during the strategy development, implementation and learning process. First to capture a strategy from a management team. To promote discussion amongst that team on the strategy, so they all leave the room telling the same story of their strategy.
Operational planning (OP) is the process of implementing strategic plans and objectives to reach specific goals. [1] An operational plan describes the specific steps in any given strategic planning model and explains how and what portion of resources will be put into operation during a given operational period: in the case of commercial-or government budget balance, a fiscal year.
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