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Strategic Planning and Development > Strategic Planning Models > Flashcards

Strategic Planning Models Flashcards

1
Q

Refers to the frameworks, processes, and
methodologies used by organizations
to develop and implement strategic
plans

A

Strategic Planning Model

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2
Q

Designed to help organizations takes
its strategy and creates a plan to
implement it to improve operations
and better meet its goals.

A

Strategic Planning Model

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3
Q

Ideal for establishing your company’s
vision, mission, business objectives,
and values

A

Basic SPM

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4
Q

Outline the specific steps you need to
take to reach your goals.

A

Basic SPM

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5
Q

Monitor progress to keep everyone
on target.

A

Basic SPM

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6
Q

Address issues as they arise

A

Basic SPM

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7
Q

Also known as “goal-based planning
model”

A

Issue-based SPM

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8
Q

Essentially an extension of the basic
strategic planning model.

A

Issue-based SPM

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9
Q

Aims to identify the major challenges
your organization faces now

A

Issue-based SPM

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10
Q

This is typically a short-term (6-12
months), internally-focused process.

A

Issue-based SPM

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11
Q

Three steps of Issue-based strategic
planning model

A
  1. Identify
  2. Suggest
  3. Include
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12
Q

Also called the strategic alignment
model (SAM), one of the most
popular strategic planning models.

A

Alignment SPM

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13
Q

Focuses on first looking internally to
develop a strategy.

A

Alignment SPM

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14
Q

It helps determine the degree to
which the organization is aligning its
longer-term plans.

A

Alignment SPM

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15
Q

Resources, Opportunities,
Vulnerabilities, Risk

A

Alignment SPM

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16
Q

4 IMPORTANT PERSPECTIVE when applying
the alignment strategic planning model

A
  • Strategy Execution
  • Technology Potential
  • Competitive Potential
  • Service Level
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17
Q

Alignment Strategic Planning Model

A
  1. Outline
  2. Identify
  3. Adjust
  4. Include
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18
Q

Making assumptions on what the
future is going to be and how your
business environment will change
over time considering that future.

A

Scenario SPM

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19
Q

This model needs to consider
external factors such as government
regulations and technical, or
demographic changes that may
impact your business.

A

Scenario SPM

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20
Q

Also called the “organic planning
model”

A

Self-organizing SPM

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21
Q

Focus on the company’s shared
vision and values instead of plans
and processes.

A

Self-organizing SPM

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22
Q

Concentrates on continuous
improvement.

A

Self-organizing SPM

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23
Q

Self-organizing strategic planning model

A
  1. Clarify
  2. Articulate
  3. Adjust
  4. Dialogue
  5. Remind
  6. Learn
  7. Reflect
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24
Q

Primarily used by organizations that
need to be more reactive, and
perform strategic planning in “real-time.”

A

Real-time SPM

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25
Q

Long-term plans quickly become
irrelevant because of rapid changes.

A

Real-time SPM

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26
Q

3 levels of real-time strategic planning

A
  • Organizational
  • Programmatic
  • Operational
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27
Q

Forming strategies in response to opportunities or trends

A

Organizational

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28
Q

Decide how to
respond to specific outcomes or
environmental changes.

A

Programmatic

29
Q

Study internal systems, policies, and people to
develop a strategy for your
company.

A

Operational

30
Q

Designed to inspire and energize
people on the team as they work
toward your organization’s goals.

A

Inspirational SPM

31
Q

People discuss an inspirational
vision for the company and
brainstorm far-reaching

A

Inspirational SPM

32
Q

Developed in the late 1970s by Tom
Peters and Robert Waterman,
former consultants at Mckinsey &
Company

A

McKinsey 7s SPM

33
Q

One of the most popular strategic
planning tools.

A

McKinsey 7s SPM

34
Q

Businesses commonly use it to
analyze internal elements that affect
organizational success.

A

McKinsey 7s SPM

35
Q

7 key elements of McKinsey 7s Model

A
  1. Strategy
  2. Structure
  3. Systems
  4. Shared Values
  5. Style
  6. Staff
  7. Skills
36
Q

Organization’s plan for
building and maintaining a
competitive advantage over its
competitors.

A

Strategy

37
Q

How your company is
organized.

A

Structure

38
Q

The daily activities and
procedures to get the job done

A

Systems

39
Q

The core values of
the organization

A

Shared Values

40
Q

The style of leadership adapted

A

Style

41
Q

The employees and their
general capabilities.

A

Staff

42
Q

The actual skills and
competencies

A

Skills

43
Q

Two categories of McKinsey elements

A
  1. Hard Elements
  2. Soft Elements
44
Q

Hard Elements

A
  • Strategy
  • Structure
  • Systems
45
Q

Soft Elements

A
  • Shared Values
  • Style
  • Staff
  • Skills
46
Q

Strategic management tool that
evaluates performance relating to
four perspectives: Financial,
Customer, Internal Business, and
Learning and Growth.

A

Balance Scorecard SPM

47
Q

4 Perspectives in Balance Scorecard SPM

A
  1. Financial
  2. Customer
  3. Internal Business
  4. Learning and Growth
48
Q

Balances strategy with financial
measurements

A

Balance Scorecard SPM

49
Q

Developed by Robert Kaplan and
David Norton in 1990s.

A

Balance Scorecard SPM

50
Q

SPM best for: Small businesses ororganizations.

A

Basic SPM

51
Q

SPM best for: Companies with little to no strategic planning experience.

A

Basic SPM

52
Q

SPM best for: Organizations with few resources.

A

Basic SPM

53
Q

SPM best for: Organizations with basic strategic planning experience.

A

Issue-based SPM

54
Q

SPM best for: Businesses that are looking for a
more comprehensive plan.

A

Issue-based SPM

55
Q

SPM best for: Organizations that need to fine-tune their strategies

A

Alignment SPM

56
Q

SPM best for: Businesses that want to uncover
issues

A

Alignment SPM

57
Q

SPM best for: Companies that want to reassess
objectives.

A

Alignment SPM

58
Q

SPM best for: Organizations trying to identify
strategic issues and goals caused by
external factors.

A

Scenario SPM

59
Q

SPM best for: Companies need to react quickly

A

Real-time SPM

60
Q

SPM best for: Businesses that are seeking new
tools to help them.

A

Real-time SPM

61
Q

SPM best for: Large organizations that can afford to take their time

A

Self-organizing SPM

62
Q

SPM best for: Businesses that prefer a more
naturalistic, organic planning
approach.

A

Self-organizing SPM

63
Q

SPM best for: Companies that have a clear
understanding of their vision.

A

Self-organizing SPM

64
Q

SPM best for: Organizations looking for inspiration to reinvigorate the creative process.

A

Inspirational SPM

65
Q

SPM best for: Companies looking for quick
solutions and strategy shifts.

A

Inspirational SPM

66
Q

SPM best for: Organizations that want to assess and improve its structure, strategy,
and performance, regardless of their
size, industry, or structure.

A

McKinsey 7s SPM

67
Q

SPM best for: Organizations that are committed to transparency and accountability.

A

Balance Scorecard SPM

68
Q

SPM best for: Both small and large organizations of any industry

A

Balance Scorecard SPM

Strategic Planning and Development (3 decks)

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