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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.
For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Using responsive evaluation in Strategic Management.Strategic Leadership Review 4 (2), 22–27. David Besanko, David Dranove, Scott Schaefer, and Mark Shanley (2012) Economics of Strategy, John Wiley & Sons, ISBN 978-1118273630; Edwards, Janice et al. Mastering Strategic Management- 1st Canadian Edition. BC Open Textbooks, 2014.
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Monitoring or evaluation should begin early on in order to cut an errant strategy before losses or negative impacts become too costly or damaging. As mentioned in the Strategy translation, each short-term operating objectives needs to be associated with a measure whether it be an action plan with milestones or a metric (Owen, 1982).
Although it helps focus managers' attention on strategic issues and the management of the implementation of strategy, it is important to remember that the balanced scorecard itself has no role in the formation of strategy. [7] In fact, balanced scorecards can co-exist with strategic planning systems and other tools. [8]
The CIPP evaluation model is a program evaluation model which was developed by Daniel Stufflebeam and colleagues in the 1960s. CIPP is an acronym for context, input, process and product. CIPP is a decision-focused approach to evaluation and emphasizes the systematic provision of information for program management and operation. [1]