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These were developed by companies and management consulting firms to help provide a framework for strategic planning. Such tools include: PEST analysis, which covers the remote external environment elements such as political, economic, social and technological (PESTLE adds legal/regulatory and ecological/environmental);
The Ansoff matrix is a strategic planning tool that provides a framework to help executives, senior managers, and marketers devise strategies for future business growth. [1] It is named after Russian American Igor Ansoff, an applied mathematician and business manager, who created the concept.
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 ...
The OGSM framework forms the basis for strategic planning and execution, as well as a strong management routine that keep the plan part of the day-to-day operations. It aligns the leaders to the objective of the company, links key strategies to the financial goals, and brings visibility and accountability to the work of improving the ...
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 ...
The Balanced Scorecard is a framework that is used to help in the design and implementation of strategic performance management tools within organizations. One of the big challenges faced in the design of Balanced Scorecard-based performance management systems is deciding what activities and outcomes to monitor. By providing a simple visual ...