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Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity. [15] Strategic management is often described as involving two major processes: formulation and implementation of strategy.
SWOT has been described as a "tried-and-true" tool of strategic analysis, [3] but has also been criticized for limitations such as the static nature of the analysis, the influence of personal biases in identifying key factors, and the overemphasis on external factors, leading to reactive strategies. Consequently, alternative approaches to SWOT ...
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.
Thinking in time means being able to hold past, present and future in mind at the same time to create better decision making and speed implementation. "Strategy is not driven by future intent alone. It is the gap between today’s reality and intent for the future that is critical." [15] Scenario planning is a practical application for ...
Strategic leadership presumes a shared vision of what an organization is to be so that the day-to-day decision-making or emergent strategy process is consistent with this vision. Managerial leaders influence only the actions and decisions of those with whom they work.
Intuitive decision-making relies on consumer heuristics, defined as cognitive processes of fast decision-making, which occur by limiting the amount of information analysed. [ 40 ] Economic concepts such as competitive advantage , market segmentation , and price discrimination are relevant to pricing strategy. [ 30 ]
Their decision process is described in depth in an appendix to this article. In the theory of decision making, the analytic hierarchy process (AHP), also analytical hierarchy process, [1] is a structured technique for organizing and analyzing complex decisions, based on mathematics and psychology.
The very similar rational decision-making model, as it is called in organizational behavior, is a process for making logically sound decisions. [2] This multi-step model and aims to be logical and follow the orderly path from problem identification through solution.
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