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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.
In the strategic plan, there is an item budget, evaluation method, and funding source/amount/timeline. The itemized budget is broken down into the years of the plan. Money is divided up into amounts that will be used for each year. The evaluation method collects data and disaggregates it to determine the outcomes.
An action plan is a detailed plan outlining actions needed to reach one or more goals. [ 1 ] [ citation needed ] Alternatively, it can be defined as a "sequence of steps that must be taken, or activities that must be performed well, for a strategy to succeed".
While the planning process produces outputs, strategy implementation or execution of the strategic plan produces outcomes. These outcomes will invariably differ from the strategic goals. How close they are to the strategic goals and vision will determine the success or failure of the strategic plan. Unintended outcomes might also be an issue.
The format of a business plan depends on its presentation context. It is common for businesses, especially start-ups, to have three or four formats for the same business plan. An " elevator pitch " is a short summary of the plan's executive summary.
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In management, a strategy map is a diagram that documents the strategic goals being pursued by an organization or management team.It is an element of the documentation associated with the Balanced Scorecard, and in particular is characteristic of the second generation of Balanced Scorecard designs that first appeared during the mid-1990s.
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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