Strategic Planning & Management
What are the 3 levels of strategy?
Organizational
Business Unit
Operation
Organizations are composed of interacting and sometimes interdependent parts that together create a dynamic internal environment. Must coordinate internal and external environments to achieve strategic goals.
Systems Thinking (Systems Theory)
compares the impact of changes in the environment on the organization's outputs, identifying positive and negative impacts of change.
Scenario analysis
State in which an organization's strategy is consistent with it external opportunities and circumstances and its internal structure, resources and capabilities
Strategic Fit
Analysis that uses information about the start or mandatory end dates of a project, the logical relationship of tasks, and the length of each task to find the earliest completion date.
Critical path analysis
Process of setting goals and designing a path toward a competitive position. Helps align efforts and provides a layer of control.
Strategic Planning
Model often used to plan and implement strategy, and analyze actions.
IPO Model (input process outputs)
1. how the organization defines it's purpose/strategy
2. the future it hopes to see
3. principles it agrees will guide its behavior
1. Mission
2. Vision
3. Values
Differentiation
Represents the scheduling of tasks visually, showing the length and timing of specific activities.
Gantt Chart
Actions that leaders take to move their organizations toward the goals set in strategic planning, to create value for all stakeholders.
Strategic Management
Environmental Scanning
Actions, processes, or results that are needed to deliver a desired value
Value Drivers
Project management approach that derives from quality principles, aiming for a level of quality so high that few errors can even occur, and outcomes that return value and allow for empirical analysis and fact based decision making
Six Sigma Project Management
When an organization fails to recognize and respond to changes in its environment that necessitate strategic change, failing to make necessary course corrections.
SWOT Analysis
Strengths (internal)
Weaknesses (internal)
Opportunities (external)
Threats (external)
Performance management tool that depicts an organization's overall performance, as measured against goals, lagging indicators and leading indicators.
Balanced scorecard
Companies agree to share assets to pursue a set of agreed upon objectives needed, while remaining independent organizations.
Core Competencies
What are the categories within the PESTLE analysis?
Political
Economic
Social
Technological
Legal
Environmental
A systematic search for environmental forces organized under specific categories. Can be used for the entire organization, specific units, or specific activities.
What does SMARTER objectives stand for?
Specific
Measurable
Attainable
Relevant
Timebound
Evaluated
Revised
Selective pruning of parts of the organization that are underperforming or that are no longer in line with the organization's strategy.
Divestiture