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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.
Hamel and Prahalad introduced the idea of "strategic intent" in a 1989 article published in the Harvard Business Review. [5] The idea of "strategic intent" embraces three attributes: direction, discovery and destiny. [6] Harvard Business Review has available 20 articles by Gary Hamel and Hamel books are available in 25 languages. [7]
In this model, strategy is both planned and emergent, dynamic, and interactive. Five general processes interact. They are strategic intention, the organization's response to emergent environmental issues, the dynamics of the actions of individuals within the organization, the alignment of action with strategic intent, and strategic learning.
A strategic plan may cover multiple years and be updated periodically. 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 ...
Complex business capability models often include an organizational mission, strategy and vision, document its long-term goals, objectives and constraints and even show the most important elements of its external business environment that should be taken into account during strategic planning, e.g. key competitors, strategic partners, major ...
A strategic leader is strategically future-oriented. A strategic leader's eyes are always on the horizon, not just on the near at hand. A strategic leader influences “the organization by aligning their systems, culture, and organizational structure to ensure consistency with the strategy” (Beatty and Quinn, 2010, p. 7).
The purpose of articulating the strategy is to translate the strategy into a form where managers and stakeholders agree consensually on what needs to be achieved [4] [8]. The strategy articulation will describe the strategic outcomes to be achieved, preferably expressed in the form of quantitative or qualitative goals. [9]
"A strategic thinker has a mental model of the complete end-to-end system of value creation, his or her role within it, and an understanding of the competencies it contains." [15] Intent focused which means more determined and less distractible than rivals in the marketplace. Crediting Hamel and Prahalad with popularising the concept, Liedtka ...