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The OGSM framework forms the basis for strategic planning and execution, as well as a strong management routine that keep the plan part of the day-to-day operations. It aligns the leaders to the objective of the company, links key strategies to the financial goals, and brings visibility and accountability to the work of improving the ...
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.
its focus on the strategic agenda of the organization/coalition concerned; a focused set of measurements to monitor performance against objectives; a mix of financial and non-financial data items (originally divided into four "perspectives" - Financial, Customer, Internal Process, and Learning & Growth); and,
This framework enables the individual setting the goal to have a precise understanding of the expected outcomes, while the evaluator has concrete criteria for assessment. The SMART acronym is linked to Peter Drucker's management by objectives (MBO) concept, illustrating its foundational role in strategic planning and performance management. [4]
The second major process of strategic management is implementation, which involves decisions regarding how the organization's resources (i.e., people, process and IT systems) will be aligned and mobilized towards the objectives. Implementation results in how the organization's resources are structured (such as by product or service or geography ...
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.
Results-based management (RBM) is a tool for monitoring and managing the implementation of strategy. [1] It in many respects is similar to the logical framework approach , a strategy implementation tool used extensively by Non-governmental organizations .