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Strategy Implementation
Strategy implementation is the activities within a workplace or organisation designed to manage the activities associated with the delivery of a strategic plan. Definition There are several definitions, most of which relate to the process of managing activities associated with the delivery of a strategic plan such as the following: :*The sum total of the activities and choices required for the execution of a strategic plan :*Operationalisation of a clearly articulated strategic plan :*All the processes and outcomes which accrue to a strategic decision once authorisation has been to go ahead and put the decision into practice :*A series of interventions concerning organisational structures, key personnel actions, and control systems designed to control performance with respect to desired ends. Other definitions concern the processes by which an organisation identifies and allocates the actions associated with the delivery of a strategic plan such as the following: :*A process by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Scorecard
A balanced scorecard is a strategy performance management tool – a well structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. The phrase 'balanced scorecard' primarily refers to a performance management report used by a management team, and typically this team is focused on managing the implementation of a strategy or operational activities – in a 2020 survey 88% of respondents reported using Balanced Scorecard for strategy implementation management, 63% for operational management. Balanced Scorecard is also used by individuals to track personal performance, but this is uncommon – only 17% of respondents in the survey using Balanced Scorecard in this way, however it is clear from the same survey that a larger proportion (about 30%) use corporate Balanced Scorecard elements to inform personal goal setting and incentive calculations. The critic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Performance Management
Performance management (PM) is the process of ensuring that a set of activities and outputs meets an organization's goals in an effective and efficient manner. Performance management can focus on the performance of a whole organization, a department, an employee, or the processes in place to manage particular tasks. Performance management standards are generally organized and disseminated by senior leadership at an organization and by task owners, and may include specifying tasks and outcomes of a job, providing timely feedback and coaching, comparing employees' actual performance and behaviors with desired performance and behaviors, instituting rewards, etc. It is necessary to outline the role of each individual in the organization in terms of functions and responsibilities to ensure that performance management is successful. Application Performance management principles are used most often in the workplace and can be applied wherever people interact with their environments ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Control
Strategic control is the process used by organizations to control the formation and execution of strategic plans; it is a specialised form of management control, and differs from other forms of management control (in particular from operational control) in respects of its need to handle ''uncertainty'' and ''ambiguity'' at various points in the control process. Strategic control is also focused on ''the achievement of future goals'', rather than the evaluation of past performance. Vis: The purpose of control at the strategic level is not to answer the question:' 'Have we made the right strategic choices at some time in the past?" but rather "How well are we doing now and how well will we be doing in the immediate future for which reliable information is available?" The point is not to bring to light past errors but to identify needed corrections to steer the corporation in the desired direction. And this determination must be made with respect to currently desirable long-range goa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Scorecard
A balanced scorecard is a strategy performance management tool – a well structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions. The phrase 'balanced scorecard' primarily refers to a performance management report used by a management team, and typically this team is focused on managing the implementation of a strategy or operational activities – in a 2020 survey 88% of respondents reported using Balanced Scorecard for strategy implementation management, 63% for operational management. Balanced Scorecard is also used by individuals to track personal performance, but this is uncommon – only 17% of respondents in the survey using Balanced Scorecard in this way, however it is clear from the same survey that a larger proportion (about 30%) use corporate Balanced Scorecard elements to inform personal goal setting and incentive calculations. The critic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Performance Measurement
Performance measurement is the process of collecting, analyzing and/or reporting information regarding the performance of an individual, group, organization, system or component. Definitions of performance measurement tend to be predicated upon an assumption about why the performance is being measured. * Moullin defines the term with a forward looking organisational focus—"the process of evaluating how well organisations are managed and the value they deliver for customers and other stakeholders". * Neely et al. use a more operational retrospective focus—"the process of quantifying the efficiency and effectiveness of past actions". * In 2007 the Office of the Chief Information Officer in the USA defined it using a more evaluative focus—"Performance measurement estimates the parameters under which programs, investments, and acquisitions are reaching the targeted results". Beyond a simple agreement about it being linked to some kind of measurement of performance there is littl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Planning
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
