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Strategic Planning
Core ConceptsDefinition
A process used by organizations to define their strategy, direction, and allocate resources to pursue this strategy.
Detailed Description
Strategic planning is a comprehensive process for determining what a business should become and how it can best achieve that goal. It assesses current market trends, predicts future developments, and analyzes competition and internal capabilities. This involves setting objectives, determining actions to achieve the goals, and mobilizing resources to execute the actions.
Key Features
- Goal Setting
- Performance Monitoring
- Resource Allocation
- SWOT Analysis
- Vision and Mission Definition
Common Modules
Business Intelligence
Collects and analyzes data to provide insights for strategic decision-making.
Performance Management
Monitors and evaluates the effectiveness of strategic initiatives.
Popular Implementations
ERP Implementation for Strategic Planning
Organizations often implement ERP systems with strategic planning modules to align operations with business goals.