What are the tools of strategic planning?

What are the tools of strategic planning?

A few common examples of strategic planning tools include:

  • SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.
  • OKR (Objectives and Key Results)
  • PEST (political, economic, socio-cultural, and technological) analysis.
  • Balanced scorecard.

What is strategic tool?

A range of tools can be used to plan, implement, or evaluate a strategy. These tools are useful as getting small tasks wrong, such as not identifying relevant stakeholders, can have significant consequences for the overall strategy.

What are the types of strategic analysis?

SWOT, PESTLE and other models for strategic analysis

  • SWOT (strengths, weaknesses, opportunities, threats) analysis.
  • PESTLE (political, economic, social, technological, legal and environmental) analysis.
  • scenario planning.
  • Porter’s Five Forces framework.

What are the tools and techniques of strategic analysis?

Examples of analytical methods used in strategic analysis include: • SWOT analysis • PEST analysis • Porter’s five forces analysis • four corner’s analysis • value chain analysis • early warning scans • war gaming. An overview of these strategic analysis tools will be provided in this topic gateway.

What are the tools and techniques of strategic management?

A synopsis of the ten most used strategic tools and techniques worldwide resulted as follows: SWOT analysis, benchmarking, PEST analysis, “what if” analysis, vision and mission statements, Porter’s five forces analysis, business financial analysis, key success factors analysis, cost‑benefit analysis and customer …

What are the tools and techniques of strategic cost management?

The techniques are: 1. Activity Based Costing (ABC) 2. Target Costing (TC) 3. Total Quality Management (TQM) 4.

What are planning tools and techniques?

Seven Management and Planning Tools are a set of tools and techniques used to help effectively plan and manage various types of business operations. These tools are intended to guide you in the planning, analysis, and decision making processes.

What are the techniques of strategic evaluation?

6 Strategy Evaluation Tips & Techniques

  • Ensure that the most important components are in place.
  • Update your measures and projects first.
  • Evaluate your measures and projects second.
  • Update your goals.
  • Determine the “strategy story” for the reporting period.
  • Create your report.

What are the examples of strategic control?

Strategic control may involve the reassessment of a strategy due to an immediate, unforeseen event. For example, if a company’s main product is becoming obsolete, the company must immediately reassess its strategy. Implementing a strategy often involves a series of activities that occur over a period.

How do you classify strategic controls?

The four types of strategic control are premise control, implementation control, special alert control and strategic surveillance. Each one provides a different perspective and method of analysis to maximize the effectiveness of your business strategy.