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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."
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.
Business systems planning (BSP) is a method of analyzing, defining and designing the information architecture of organizations. It was introduced by IBM for internal use only in 1981, [ 1 ] although initial work on BSP began during the early 1970s.
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.
The Management Board approves the proposed strategic direction under certain financial constraints such as expected returns on investment or equity. Hybrid. Executive management determines and sets the strategic direction of the enterprise based on the inputs of middle managers and the rank and file. In this set up, plans and budgets are ...
Examples of the focus of such adaptations include the triple bottom line, [25] decision support, [32] public sector management, [33] and health care management. [34] The performance management elements of the UN's Results Based Management system have strong design and structural similarities to those used in the 3rd Generation Balanced ...
A strategic information system (SIS) is a computer system used by organizations to analyse market and competitor information, helping them plan and make their business more successful. It shapes the corporate strategy of an organization by providing a connection between the organization's demands and the latest information technology.
A management system is a set of policies, processes and procedures used by an organization to ensure that it can fulfill the tasks required to achieve its objectives. [1] These objectives cover many aspects of the organization's operations (including product quality, worker management, safe operation, client relationships, regulatory ...