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Scenario planning is as much art as science, and prone to a variety of traps (both in process and content) as enumerated by Paul J. H. Schoemaker. [14] More recently scenario planning has been discussed as a tool to improve the strategic agility, by cognitively preparing not only multiple scenarios but also multiple consistent strategies. [10]
If a company emphasizes knowledge rather than finance, and sees itself as an ongoing community of human beings, it has the potential to become great and endure for decades. Such an organization is an organic entity capable of learning (he called it a "learning organization") and capable of creating its own processes, goals, and persona. [150]
the "Background of Shared Obviousness", that is, the groupthink that exists within the organization around what the company is, what it is able to do and not able to do. Strategic assumptions are the equivalent in strategic planning to financial assumptions when doing financial projections, economic assumptions when making economic forecasts ...
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.
The model for such an exercise is what the investment management company Pimco did in the 2008 financial crisis, just before what came to be known as Lehman Weekend.
Critical assumption planning (CAP) is a service mark of D. Dunham & Co. It helps managers and entrepreneurs maximize business development learning at least cost. The continuous process consists of six steps: Knowledge Base Assessment, Critical Assumption Planning, Test Program Design, Funding Request, Test Implementation and Venture Reassessment.
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.
A decision rule is the GDSS protocol a group uses to choose among scenario planning alternatives. Gathering Involves all participants acknowledging each other's needs and opinions and tends towards a problem solving approach in which as many needs and opinions as possible can be satisfied.