Search results
Results from the WOW.Com Content Network
RBM is an example of a tool used for strategic control. It uses feedback loops to help managers monitor and then (hopefully) achieve strategic goals. These goals may take the form of physical outputs, organizational or behavioral changes, workflow changes, or form contribution to some other higher level goal.
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 ...
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.
Strategic management tools. In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
Objectives and key results (OKR, alternatively OKRs) is a goal-setting framework used by individuals, teams, and organizations to define measurable goals and track their outcomes. The development of OKR is generally attributed to Andrew Grove who introduced the approach to Intel in the 1970s [ 1 ] and documented the framework in his 1983 book ...
In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
Strategic planning's role is "to realise and to support strategies developed through the strategic thinking process and to integrate these back into the business". [14] Henry Mintzberg wrote in 1994 that strategic thinking is more about synthesis (i.e., "connecting the dots") than analysis (i.e., "finding the dots"). It is about "capturing what ...
Integrated reporting (IR, or <IR> in International Integrated Reporting Council publications) in corporate communication is a "process that results in communication, most visibly a periodic “integrated report”, about value creation over time. An integrated report is a concise communication about how an organization's strategy, governance ...