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Objectives, goals, strategies and measures (OGSM) is a goal setting and action plan framework used in strategic planning. It is used by organizations, departments, teams and sometimes program managers to define and track measurable goals and actions to achieve an objective.
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 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 ...
In other words, the business strategy must be translated into a set of clear short-term operating objectives (activities and outcomes) in order to execute the strategy. Key issues, elements, and needs of strategy must be translated into objectives, action plans, and “scorecards” and this translation is an integral and vital part of the ...
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.
Process map is a global-system process model that is used to outline the processes that make up the business system and how they interact with each other. Process map shows the processes as objects , which means it is a static and non-algorithmic view of the processes.
Much of the strategic management literature evolves Peter Drucker's call for corporations to start the strategic management process by producing a statement of purpose, mission and objectives. This has been transformed into a call to start with a vision, mission and objectives statement.
Analytical: From the analytical view, good strategy-making follows a linear process with each task being “checked off” as it is completed. As set out in many strategy texts, it is a set of reasonably well-defined steps leading to a fully formed plan of execution. Effectively, the strategy is set for a defined time period and executed.