Objective: Become familiar with the strategic tools and techniques that supports business decision-making. Research and explain a selected tool. Understand how and why they are applied. Demonstrate synthesis writing and presenting.
The strategic tool selected is Goal Based Strategic Planning Model
Work product: Prepare an individual, one-page summary of a management tool
Suggested framework for blog/ one page summary
- Why did you choose the business/strategy tool or technique?
- Describe the business tool.
- Describe how this business tool is used.
- Identify a scenario of how you could see an analysis team using this business tool.
- Describe advantages and disadvantages to using the business tool.
- Compare and contrast the business tool to SWOT or Porter’s 5 -Forces.
- pose an interesting question about your findings for others to engage
Process
- Choose one business strategy tool or technique (I have chosen Goal Based Strategic Planning Model)
Source 1: Table 1. Glossary of tools and techniques for strategic analysis in Frost (2003) p. 54 see e-reserves to source article.
Frost, F. A. (2003). The use of strategic tools by small and medium-sized enterprises: An australasian study. Strategic Change, 12(1), 49-62. doi:10.1002/jsc.607
Source 2: 16 Strategic Planning Models To Consider
- Review the articles on SWOT and Porters 5 Forces analysis or other articles you find.
Porter, M. E. (2008). The five competitive forces that shape strategy. Harvard Business Review, 86(1), 78-93.
General Directions
- Participate by answering questions about a specific topic using provided references.
- About a 500 word limit.
- Be sure to provide references including books, articles and web pages sourced APA style. Be sure to write and cite your sources APA Style (author, date). If you use a direct quote include page number in the citation. Provide references at the end of your blog APA style.
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