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Strategy Markup Language (StratML) is an XML-based standard vocabulary and schema for the information commonly contained in strategic and performance plans and reports. StratML Part 1 specifies the elements of strategic plans, including: mission, vision, values, goals, objectives, and stakeholders.
The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. [ citation needed ] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and ...
In strategic planning and strategic management, SWOT analysis (also known as the SWOT matrix, TOWS, WOTS, WOTS-UP, and situational analysis) [1] is a decision-making technique that identifies the strengths, weaknesses, opportunities, and threats of an organization or project.
Strategic planning is a means of administering the formulation and implementation of strategy. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control ...
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".
For example, a best practice for strategy implementation monitoring and control is to meet regularly in structured and time-limited sessions (Allio, 2005). As mentioned previously, a slow implementation with small steps usually has a positive influence on engaging the management resulting in a better implementation performance.
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