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The organization may use a variety of methods of measuring and monitoring progress towards the strategic objectives and measures established, such as a balanced scorecard or strategy map. Organizations may also plan their financial statements (i.e., balance sheets, income statements, and cash flows) for several years when developing their ...
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 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."
Strategy as perspective – executing strategy based on a "theory of the business" or natural extension of the mindset or ideological perspective of the organization. [ 21 ] Complexity theorists define strategy as the unfolding of the internal and external aspects of the organization that results in actions in a socio-economic context.
In business, operational objectives (also known as tactical objectives) are short-term goals whose achievement brings an organization closer to its long-term goals. [1] It is slightly different from strategic objectives, which are longer term goals of a business, but they are closely related, as a business will only be able to achieve strategic objectives when operational objectives have been ...
Strategic alignment is a process that ensures an organization's structure, use of resources (and culture) support its strategy. "In its simplest form, organizational strategic alignment is lining up a business' strategy with its culture."
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.
Business strategy, the art and science of enabling an organization to achieve its objective Marketing strategy, a process that allows an organization to increase sales and achieve a competitive advantage; Technology strategy, how information technology should be used as part of a business strategy