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Strategic Business Unit
A strategic business unit (SBU) in business strategic management, is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity. An SBU may be a business unit within a larger corporation, or it may be a business into itself or a branch. Corporations may be composed of multiple SBUs, each of which is responsible for its own profitability. Companies today often use the word '' segmentation'' or '' division'' when referring to SBUs or an aggregation of SBUs that share such commonalities. General Electric (GE) is an example of a company with this sort of business organization. SBUs are able to affect most factors which influence their performance. Managed as separate businesses, they are responsible to a parent corporation. GE has 49 SBUs. Business writer Michael Porter has developed a value chain model which focusses on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Management
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of Resource management, resources and an assessment of the internal and external Market environment, environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's goal, objectives, developing policy, policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback, feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balanced Scorecard
A balanced scorecard is a strategy performance management tool – a well-structured report used to keep track of the execution of activities by staff and to monitor the consequences arising from these actions. The term 'balanced scorecard' primarily refers to a performance management report used by a management team, and typically focused on managing the implementation of a strategy or operational activities. In a 2020 survey 88% of respondents reported using the balanced scorecard for strategy implementation management, and 63% for operational management. Although less common, the balanced scorecard is also used by individuals to track personal performance; only 17% of respondents in the survey reported using balanced scorecards 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 critical characteristics that define a balanced scoreca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Results-based Management
Results-based management (RBM) is a tool for monitoring and managing the implementation of strategy. It in many respects is similar to the logical framework approach, a strategy implementation tool used extensively by Non-governmental organizations. Process RBM is an example of a tool used for strategic control. It uses feedback loops to help managers monitor and then (hopefully) achieve strategic goals. These goals may take the form of physical outputs, organizational or behavioral changes, workflow changes, or form contribution to some other higher level goal. Information (evidence) of the actual results is used for accountability, reporting, communication and to feedback into the design, resourcing and delivery of projects and operational activities. During the design of an RBM system all people and organizations (actors) who contribute directly or indirectly to the result, map out their business processes, products and services, showing how they contribute to the outcome ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morphological Analysis (problem-solving)
Morphological analysis or general morphological analysis is a method for exploring possible solutions to a multi-dimensional, non-quantified complex problem. It was developed by Swiss astronomer Fritz Zwicky.Ritchey, T. (1998)General Morphological Analysis: A general method for non-quantified modeling. General morphology has found use in fields including engineering design, technological forecasting, organizational development and policy analysis. Overview General morphology was developed by Fritz Zwicky, the Bulgarian-born, Swiss-national astrophysicist based at the California Institute of Technology. Among others, Zwicky applied morphological analysis to astronomical studies and jet and rocket propulsion systems. As a problem-structuring and problem-solving technique, morphological analysis was designed for multi-dimensional, non-quantifiable problems where causal modelling and simulation do not function well, or at all. Zwicky developed this approach to address seeming ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management Consulting
Management consulting is the practice of providing consulting services to organizations to improve their performance or in any way to assist in achieving organizational objectives. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and accessing consultants' specialized expertise regarding concerns that call for additional oversight. As a result of their exposure to and relationships with numerous organizations, consulting firms are typically aware of industry "best practices". However, the specific nature of situations under consideration may limit the ability or appropriateness of transferring such practices from one organization to another. Management consulting is an additional service to internal management functions and, for various legal and practical reasons, may not be seen as a replacement for internal management. Unlike interim management, management consultants do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Management
Management (or managing) is the administration of organizations, whether businesses, nonprofit organizations, or a Government agency, government bodies through business administration, Nonprofit studies, nonprofit management, or the political science sub-field of public administration respectively. It is the process of managing the resources of businesses, governments, and other organizations. Larger organizations generally have three Hierarchy, hierarchical levels of managers, organized in a pyramid structure: * Senior management roles include the board of directors and a chief executive officer (CEO) or a President (corporate title), president of an organization. They set the strategic goals and policy of the organization and make decisions on how the overall organization will operate. Senior managers are generally executive-level professionals who provide direction to middle management. Compare governance. * Middle management roles include branch managers, regional managers, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Strategies
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information. Strategic marketing emerged in the 1970s and 1980s as a distinct field of study, branching out of strategic management. Marketing strategies concern the link between the organization and its customers, and how best to leverage resources within an organization to achieve a competitive advantage. In recent years, the advent of digital marketing has revolutionized strategic marketing practices, introducing new avenues for customer engagement and data-driven decision-making. Marketing management versus marketing strategy The terms “strategic” and “managerial” marketing distinguish between two processes, each with different goals and conceptual tools. Strategic mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing Plan
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals. It is often created together by marketing managers, product marketing managers, product managers, and sales teams. A marketing plan comprises part of an overall business plan. A comprehensive marketing plan may contains historical data, future predictions, methods or strategies to achieve marketing objectives, and analyses of the strengths and weaknesses of a company, its organization and its products. Objectives Acquiring marketing share, increasing customer awareness, and building a favorable business image are some of the objectives that can be related to marketing planning. The marketing plan also helps layout the necessary budget and resources needed to achieve the goals st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marketing
Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or manufacturer. Products can be marketed to other businesses (B2B Marketing, B2B) or directly to consumers (B2C). Sometimes tasks are contracted to dedicated marketing firms, like a Media agency, media, market research, or advertising agency. Sometimes, a trade association or government agency (such as the Agricultural Marketing Service) advertises on behalf of an entire industry or locality, often a specific type of food (e.g. Got Milk?), food from a specific area, or a city or region as a tourism destination. Market orientations are philosophies concerning the factors that should go into market planning. The marketing mix, which outlines the specifics of the product and how it will be sold, including the channels that will be used to adverti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Integrated Business Planning
Integrated business planning (IBP) is a business management process that aims to align strategic, operational, and financial planning into a single, integrated process. Objective Integrated business planning (IBP) is used by organizations to integrate various functions and align strategic, operational, and financial planning. Key aspects often included in IBP frameworks are: 1. Functional Integration: IBP aims to integrate departments within an organization and align them functionally. It seeks to create a unified planning process that connects functions such as research and development (R&D), manufacturing, supply chain management, marketing, and sales, incorporating inputs from each to form a common business plan. 2. Harmonization of Planning Cycles:: IBP involves synchronizing planning activities across multiple timelines, aligning monthly, quarterly, and annual planning cycles. It uses a framework designed to address discrepancies arising from separate starting points and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dynamic Capabilities
In organizational theory Organizational theory refers to a series of interrelated concepts that involve the sociological study of the structures and operations of formal social organizations. Organizational theory also seeks to explain how interrelated units of organiza ..., dynamic capability is the capability of an organization to purposefully adapt an organization's resource base. The concept was defined by David Teece, Gary Pisano and Amy Shuen, in their 1997 paper ''Dynamic Capabilities and Strategic Management'', as the firm’s ability to engage in ''adapting, integrating, and reconfiguring internal and external organizational skills, resources, and functional competences to match the requirements of a changing environment.'' The term is often used in the plural form, dynamic capabilities, emphasizing that the ability to react adequately and timely to external changes requires a combination of multiple capabilities. Overview The phrase "dynamic capabilities" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Concept-driven Strategy
A concept-driven strategy is a management methodology that centers on the development of core concepts or ideas to drive decision making. This approach aims to establish distinctive value propositions and competitive advantages. The framework is intended to help organizations move beyond conventional market limits, challenge established norms, and identify new ideas and possibilities. Elements The essential elements often cited in a Concept-Driven Strategy include: * Priority on Understanding Concepts Focus on concepts rather than isolated facts to enable a deeper comprehension and application of knowledge. This approach emphasizes understanding underlying principles and frameworks, allowing for the adaptation of ideas to varied contexts instead of simple memorization. * Cultivating Analytical Thinking Critical thinking is encouraged by fostering the ability to analyze, evaluate, and synthesize information. This involves questioning assumptions, identifying biases, and makin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
