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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
Long-term plans quickly become irrelevant because of rapid changes.
Real-time SPM
26
3 levels of real-time strategic planning
* Organizational * Programmatic * Operational
27
Forming strategies in response to opportunities or trends
Organizational
28
Decide how to respond to specific outcomes or environmental changes.
Programmatic
29
Study internal systems, policies, and people to develop a strategy for your company.
Operational
30
Designed to inspire and energize people on the team as they work toward your organization’s goals.
Inspirational SPM
31
People discuss an inspirational vision for the company and brainstorm far-reaching
Inspirational SPM
32
Developed in the late 1970s by Tom Peters and Robert Waterman, former consultants at Mckinsey & Company
McKinsey 7s SPM
33
One of the most popular strategic planning tools.
McKinsey 7s SPM
34
Businesses commonly use it to analyze internal elements that affect organizational success.
McKinsey 7s SPM
35
7 key elements of McKinsey 7s Model
1. Strategy 2. Structure 3. Systems 4. Shared Values 5. Style 6. Staff 7. Skills
36
Organization's plan for building and maintaining a competitive advantage over its competitors.
Strategy
37
How your company is organized.
Structure
38
The daily activities and procedures to get the job done
Systems
39
The core values of the organization
Shared Values
40
The style of leadership adapted
Style
41
The employees and their general capabilities.
Staff
42
The actual skills and competencies
Skills
43
Two categories of McKinsey elements
1. Hard Elements 2. Soft Elements
44
Hard Elements
* Strategy * Structure * Systems
45
Soft Elements
* Shared Values * Style * Staff * Skills
46
Strategic management tool that evaluates performance relating to four perspectives: Financial, Customer, Internal Business, and Learning and Growth.
Balance Scorecard SPM
47
4 Perspectives in Balance Scorecard SPM
1. Financial 2. Customer 3. Internal Business 4. Learning and Growth
48
Balances strategy with financial measurements
Balance Scorecard SPM
49
Developed by Robert Kaplan and David Norton in 1990s.
Balance Scorecard SPM
50
SPM best for: Small businesses ororganizations.
Basic SPM
51
SPM best for: Companies with little to no strategic planning experience.
Basic SPM
52
SPM best for: Organizations with few resources.
Basic SPM
53
SPM best for: Organizations with basic strategic planning experience.
Issue-based SPM
54
SPM best for: Businesses that are looking for a more comprehensive plan.
Issue-based SPM
55
SPM best for: Organizations that need to fine-tune their strategies
Alignment SPM
56
SPM best for: Businesses that want to uncover issues
Alignment SPM
57
SPM best for: Companies that want to reassess objectives.
Alignment SPM
58
SPM best for: Organizations trying to identify strategic issues and goals caused by external factors.
Scenario SPM
59
SPM best for: Companies need to react quickly
Real-time SPM
60
SPM best for: Businesses that are seeking new tools to help them.
Real-time SPM
61
SPM best for: Large organizations that can afford to take their time
Self-organizing SPM
62
SPM best for: Businesses that prefer a more naturalistic, organic planning approach.
Self-organizing SPM
63
SPM best for: Companies that have a clear understanding of their vision.
Self-organizing SPM
64
SPM best for: Organizations looking for inspiration to reinvigorate the creative process.
Inspirational SPM
65
SPM best for: Companies looking for quick solutions and strategy shifts.
Inspirational SPM
66
SPM best for: Organizations that want to assess and improve its structure, strategy, and performance, regardless of their size, industry, or structure.
McKinsey 7s SPM
67
SPM best for: Organizations that are committed to transparency and accountability.
Balance Scorecard SPM
68
SPM best for: Both small and large organizations of any industry
Balance Scorecard SPM

Strategic Planning and Development (3 decks)

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