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In the strategic plan, there is an item budget, evaluation method, and funding source/amount/timeline. The itemized budget is broken down into the years of the plan. Money is divided up into amounts that will be used for each year. The evaluation method collects data and disaggregates it to determine the outcomes.
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.
It does not start planning with a clear picture of which demands are truly strategic or which actions will have the most significant impact. Information regarding business needs and the costs, benefits, and risks of IT capabilities comes from sources of varying quality. Consequently, IT makes planning decisions based on misleading information.
The strategic grid model is a contingency approach that can be used to determine the strategic relevance of IT to an organization. The model was proposed by F. Warren McFarlan and James L. McKenney in 1983, and takes the impact of the information technology on the strategy in future planning as the horizontal axis, and the current impact of the information technology on corporate strategy as ...
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.
A successful technology strategy involves the documentation of planning assumptions and the development of success metrics. [6] These establish a mission-driven strategy, which ensures that initiatives are aligned with the organization's goals and objectives. [6]
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