The strategic management process consists of steps designed to identify and implement strategies to help a company achieve its goals.
In the context of production and operations management, a chase strategy refers to a strategy where production is adjusted in response to demand.
Strategic Control refers to the process by which an organization tracks and monitors its strategy as it is being implemented, detecting any problems or potential issues as early as possible and taking corrective action.
Strategic intent refers to a company’s long-term vision for its future. It is a compelling statement that paints a picture of the company’s targeted future position in the market.
A focus strategy is a business method companies use to identify and target specific market segments or niches. The key is an in-depth understanding of the targeted market segment’s specific needs, preferences, and dynamics.
A transnational strategy is a type of international business strategy that combines the benefits of global scale efficiencies with local responsiveness.
A sustainable competitive advantage refers to long-term factors or attributes that allow a company to outperform its competitors. These factors include technology, customer service, brand recognition, etc.
Demand management is a critical process within supply chain management that focuses on forecasting, planning, and managing the demand for products and services.
A Target Operating Model (TOM) describes the desired state of an organization’s operational capabilities and functions. How to design a TOM? Explained with an Example.
A business policy is a formal statement outlining the guiding principles and procedural framework an organization follows to achieve its objectives and manage its operations.
