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Strategy is important because the resources available to achieve goals are usually limited. Strategy generally involves setting goals and priorities, determining actions to achieve the goals, and mobilizing resources to execute the actions. [4] A strategy describes how the ends (goals) will be achieved by the means (resources). [5]
A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic Planning is long term and organizational action steps are established from two to five years in the future. [3] The senior leadership of an organization is generally tasked with determining strategy.
Strategic management processes and activities. Strategy is defined as "the determination of the basic long-term goals of an enterprise, and the adoption of courses of action and the allocation of resources necessary for carrying out these goals."
Encirclement – Both a strategy and tactic designed to isolate and surround enemy forces; Ends, Ways, Means, Risk – Strategy is much like a three legged stool of ends, ways, means balanced on a plane of varying degree of risk; Enkulette – A strategy used often in the jungle that aims at attacking the enemy from behind.
Strategic communication can mean either communicating a concept, a process, or data that satisfies a long-term strategic goal of an organization by allowing the facilitation of advanced planning or communicating over long distances, usually using international telecommunications or dedicated global network assets to coordinate actions and activities of operationally significant commercial, non ...
Debt repayment strategies vary based on how you want to tackle your debt. Some folks may have high-interest credit card debt, and using the debt avalanche method might be the best strategy to go with.
For example, a best practice for strategy implementation monitoring and control is to meet regularly in structured and time-limited sessions (Allio, 2005). As mentioned previously, a slow implementation with small steps usually has a positive influence on engaging the management resulting in a better implementation performance.
In business, a competitive advantage is an attribute that allows an organization to outperform its competitors.. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology and to proprietary information.