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Strategy Gap
A strategy gap refers to the gap between the current performance of an organisation and its desired performance as expressed in its mission, Goal, objectives, goals and the strategy for achieving them. Mckeown argues that a strategic gap may be transformed into a strategic stretch. Often unseen, the strategy gap is a threat to the future performance—and even survival—of an organisation and is guaranteed to impact upon the efficiency and effectiveness of senior executives and their management teams. The strategy gap is considered to be real and exists within most organisations. An article in ''Fortune magazine, Fortune'' magazine (June 1999 edition) stated that some 70% of CEOs' failures were the result of poor execution rather than poor strategies. There are various schools of thought on what causes the gap between vision and execution, and how the strategy gap might be avoided. In 2005, Paul R. Niven, a thought leader in performance management systems, pinpointed four sources ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organisation
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, includ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goal
A goal is an idea of the future or desired result that a person or a group of people envision, plan and commit to achieve. People endeavour to reach goals within a finite time by setting deadlines. A goal is roughly similar to a purpose or aim, the anticipated result which guides reaction, or an end, which is an object, either a physical object or an abstract object, that has intrinsic value. Goal setting Goal-setting theory was formulated based on empirical research and has been called one of the most important theories in organizational psychology. Edwin A. Locke and Gary P. Latham, the fathers of goal-setting theory, provided a comprehensive review of the core findings of the theory in 2002. In summary, Locke and Latham found that specific, difficult goals lead to higher performance than either easy goals or instructions to "do your best", as long as feedback about progress is provided, the person is committed to the goal, and the person has the ability and knowledge ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Team
Senior management, executive management, upper management, or a management is generally individuals at the highest level of management of an organization who have the day-to-day tasks of managing that organization—sometimes a company or a corporation. Overview Executive managers hold powers delegated to them with and by authority of a board of directors and/or the shareholders. Generally, higher levels of responsibility exist, such as a board of directors and those who own the company (shareholders), but they focus on managing the senior or executive management instead of on the day-to-day activities of the business. The executive management typically consists of the heads of a firm's product and/or geographic units and of functional executives such as the chief financial officer, the chief operating officer, and the chief strategy officer. In project management, senior management authorises the funding of projects. Compare: Senior management are sometimes referred to, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fortune Magazine
''Fortune'' is an American multinational business magazine headquartered in New York City. It is published by Fortune Media Group Holdings, owned by Thai businessman Chatchaval Jiaravanon. The publication was founded by Henry Luce in 1929. The magazine competes with ''Forbes'' and ''Bloomberg Businessweek'' in the national business magazine category and distinguishes itself with long, in-depth feature articles. The magazine regularly publishes ranked lists, including the ''Fortune'' 500, a ranking of companies by revenue that it has published annually since 1955. The magazine is also known for its annual ''Fortune Investor's Guide''. History ''Fortune'' was founded by ''Time'' magazine co-founder Henry Luce in 1929 as "the Ideal Super-Class Magazine", a "distinguished and de luxe" publication "vividly portraying, interpreting and recording the Industrial Civilization". Briton Hadden, Luce's business partner, was not enthusiastic about the idea – which Luce originally thoug ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schools Of Thought
A school of thought, or intellectual tradition, is the perspective of a group of people who share common characteristics of opinion or outlook of a philosophy, discipline, belief, social movement, economics, cultural movement, or art movement. History The phrase has become a common colloquialism which is used to describe those that think alike or those that focus on a common idea. The term's use is common place. Schools are often characterized by their currency, and thus classified into "new" and "old" schools. There is a convention, in political and philosophical fields of thought, to have "modern" and "classical" schools of thought. An example is the modern and classical liberals. This dichotomy is often a component of paradigm shift. However, it is rarely the case that there are only two schools in any given field. Schools are often named after their founders such as the "Rinzai school" of Zen, named after Linji Yixuan; and the Asharite school of early Muslim philosophy, nam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Execution
Capital punishment, also known as the death penalty, is the State (polity), state-sanctioned practice of deliberately killing a person as a punishment for an actual or supposed crime, usually following an authorized, rule-governed process to conclude that the person is responsible for violating norms that warrant said punishment. The sentence (law), sentence ordering that an offender is to be punished in such a manner is known as a death sentence, and the act of carrying out the sentence is known as an execution. A prisoner who has been sentenced to death and awaits execution is ''condemned'' and is commonly referred to as being "on death row". Crimes that are punishable by death are known as ''capital crimes'', ''capital offences'', or ''capital felonies'', and vary depending on the jurisdiction, but commonly include serious Offence against the person, crimes against the person, such as murder, mass murder, Aggravation (law), aggravated cases of rape (often including child s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resources
Resource refers to all the materials available in our environment which are technologically accessible, economically feasible and culturally sustainable and help us to satisfy our needs and wants. Resources can broadly be classified upon their availability — they are classified into renewable and non-renewable resources. They can also be classified as actual and potential on the basis of the level of development and use, on the basis of origin they can be classified as biotic and abiotic, and on the basis of their distribution, as ubiquitous and localised (private, community-owned, national and international resources). An item becomes a resource with time and developing technology. The benefits of resource utilization may include increased wealth, proper functioning of a system, or enhanced well-being. From a human perspective, a natural resource is anything obtained from the environment to satisfy human needs and wants.WanaGopa - Nyawakan From a broader biological or ecologic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Planning
In general usage, a financial plan is a comprehensive evaluation of an individual's current pay and future financial state by using current known variables to predict future income, asset values and withdrawal plans. This often includes a budget which organizes an individual's finances and sometimes includes a series of steps or specific goals for spending and saving in the future. This plan allocates future income to various types of expenses, such as rent or utilities, and also reserves some income for short-term and long-term savings. A financial plan is sometimes referred to as an investment plan, but in personal finance, a financial plan can focus on other specific areas such as risk management, estates, college, or retirement. Context of business In business, a financial plan can refer to the three primary financial statements (balance sheet, income statement, and cash flow statement) created within a business plan. Financial forecast or financial plan can also refer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Process
A business process, business method or business function is a collection of related, structured activities or tasks by people or equipment in which a specific sequence produces a service or product (serves a particular business goal) for a particular customer or customers. Business processes occur at all organizational levels and may or may not be visible to the customers. A business process may often be visualized (modeled) as a flowchart of a sequence of activities with interleaving decision points or as a process matrix of a sequence of activities with relevance rules based on data in the process. The benefits of using business processes include improved customer satisfaction and improved agility for reacting to rapid market change. Process-oriented organizations break down the barriers of structural departments and try to avoid functional silos. Overview A business process begins with a mission objective (an external event) and ends with achievement of the business object ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forecasting
Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results. Prediction is a similar but more general term. Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods or the process of prediction and resolution itself. Usage can vary between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period. Risk and uncertainty are central to forecasting and prediction; it is generally considered a good practice to indicate the degree of uncertainty ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Reporting
Business reporting or enterprise reporting refers to both "the public reporting of operating and financial data by a business enterprise," and "the regular provision of information to decision-makers within an organization to support them in their work." It is a fundamental part of the larger movement towards improved business intelligence and knowledge management. Implementation often involves extract, transform, and load (ETL) procedures in coordination with a data warehouse and then using one or more reporting tools. Reports can be distributed in print form, via email or accessed via a corporate intranet. With the expansion of information technology there has been an increase in the production of unified reports which join different views of an organization in one place. This reporting process involves querying data sources with different logical models to produce a human-readable report. For example, a decision maker may need to query a human resources databases and a capita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
