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Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. It involves analysis of the organization and its environment, formulation of a guiding policy, and action plans to achieve the goals.
Hoshin Kanri is a 7-step process of strategic planning that originated from post-war Japan and spread to the U.S. and around the world. It involves setting and communicating strategic goals, breaking them down into smaller goals, and measuring performance with a catchball system and a Hoshin Kanri Matrix.
A business plan is a formal document that states the goals, methods, and time-frame of a business. It can be internally or externally focused, and it can be used for different purposes such as financing, strategic planning, or project management.
A comprehensive overview of business management concepts, types, skills, and applications. Learn about the different aspects of managing a business, such as accounting, finance, entrepreneurship, organization, and more.
A strategy map is a tool to document the strategic objectives and outcomes of an organization or management team. It is based on the Balanced Scorecard framework and uses perspectives, objectives, and causal links to visualize the strategy.
Learn about the Business Model Canvas, a strategic management template for developing and documenting business models. It consists of nine elements that describe a firm's or product's value proposition, infrastructure, customers, and finances.