Initially created by Dr. Robert Kaplan and Dr. David Norton at Harvard Business School, the Balanced Scorecard has been used widely to measure business success. Historically, companies measured their success using only short-term financial measures l...

Measurements assist in making decisions and understanding the progress in meeting the strategic and tactical plan.Measurements drive behavior. What gets measured gets done.Organizations must be able to measure their performance in order to improve it...

In this post, we will discuss how changes in technology can have long-term and short-term influences on strategic planning. Technology is an essential part of strategic thinking, but it's not the only thing that affects strategy. There are many other...

The terms "quality" and "grade" are often used interchangeably. In this post, let's understand the difference between these two terms.Difference between Quality and Grade:Quality is an attribute that describes how well something works. It is often me...

Market forces are a significant force in shaping strategies. Examples of market forces include:Existing competitionThe entry of new competitorsRivalry among competitorsThe threat of substitutesBargaining power of buyers and suppliersCurrent economic...

The strategic environmental analysis helps understand how the organization can be affected by internal and external factors, which are then used to develop strategies to mitigate or eliminate their impact on the company's operations.PEST AnalysisThe...

The strategic environmental analysis enables companies to understand their business environment better. It is an ongoing process for identifying all the external and internal factors that may influence organizational performance. It helps organizatio...

To effectively plan for the future, businesses need to identify their core competencies and develop strategies that leverage these strengths to achieve growth. In this post, I will discuss the seven main reasons why strategic planning fails and how t...

The Strategic Plan is a document that describes the goals of an organization. It also provides guidance for planning activities to achieve those goals. The plan can be used by management as well as employees. Tactical plans are usually short-term in...

Strategic PlanThe Strategic Plan is a document that provides the vision and direction for our organization. It articulates the values, goals, objectives, strategies, and policies of the organization. The Strategic Plan is intended to be used as a gui...