A program is a group of interrelated projects, subsidiary programs, and program activities that are managed in a coordinated way to obtain benefits not available from managing them individually. Program management is often confused with Portfolio management. The main difference is that a program has a defined end point, since it is a series of related projects each … [Read more...]
Value Chain analysis is a process improvement methodology developed by Michael Porter of Harvard Business School in the 1980's. It is a part of the field of strategic analysis. The "value chain" refers to the process of creating value throughout each step of of the business chain. For example, An exploration company creates value by discovering iron ore in a mound … [Read more...]
The Balanced Scorecard is a system for the implementation of corporate strategy. It is a performance measurement tool that helps an organization execute its strategies and turn them into measurable results "on the ground." In its practical form, a balanced scorecard is a 4-quadrant itemized list of key performance indicators (KPI's) that the organization strives to … [Read more...]
Key Performance Indicators (KPI) are clear, specific metrics that measure an organization's progress toward a corporate goal. They generally have a time component, because they track the execution of a corporate strategy. They are the "scorecard" part of a balanced scorecard. To develop KPI's, it helps to divide them into three … [Read more...]
A PEST Analysis is not a way to rid your office of undesirable rodents, although I suggest you take care of that first if it is a problem. Rather, it is strategic analysis technique which analyzes the external environment within which an organization operates. It is designed to give an organization a good overall picture of what factors are affecting its business. The … [Read more...]
A corporate goal is an specific, measurable objective toward which an organization channels its efforts. Goals support a vision or mission statement. In strategic planning, the establishment of corporate goals comes right after the development of corporate vision and mission statements. These documents lay the groundwork for determining the more specific goals that an … [Read more...]
In today's ultra-competitive business environment, strategic planning is more than ever a necessary tool to growing a successful business. Even large companies are not immune to sharp downturns and failed strategic plans. Strategic planning is a process that results in the development of a strategic plan (really!). The strategic planning model in use by businesses and … [Read more...]
