Analysis refers to the examination and division of a business-related situation or problem into major elements in order to understand the item in question and make appropriate recommendations.
The Boston Matrix, also known as the BCG Matrix, is a tool used in brand marketing and product management to help companies decide what products to keep, develop, or discontinue. It categorizes products based on market growth and market share.
Capital Expenditure (CapEx) refers to the funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment. It is often used to undertake new projects or investments by the firm.
Corporate strategic planning is a management process involving the determination of the basic long-term objectives of an organization and the adoption of specific action plans to attain these objectives. It encompasses the analysis of the environment, establishing objectives, performing situational analyses, selecting alternative strategies, and implementing and monitoring the strategic plans.
Cost prediction involves forecasting future cost levels based on historical cost behavior using various statistical techniques, such as linear regression, to inform budgeting, decision-making, and strategic planning.
Enterprise Performance Management (EPM) is a framework used by organizations to monitor and manage their performance against key business objectives. It encompasses strategies, tools, and processes that provide comprehensive insights into business performance.
An executive committee is a senior-level management committee empowered to make and implement major organizational decisions, oversee organizational activities, request justifications for certain matters, and plan activities.
An Executive Information System (EIS) is a specialized decision support system tailored to assist senior executives in decision-making processes by providing easy access to both internal and external information relevant to the strategic goals of the organization.
Financial planning involves the formulation of short-term and long-term plans in financial terms to establish goals for an organization to achieve, against which its actual performance can be measured.
The GE/McKinsey Matrix is a strategic tool used for analyzing the strength of business units within a large diversified corporation. It evaluates units based on industry attractiveness and competitive strength, aiding investment and divestment decisions.
An individual or organizational objective target to be achieved within a particular time period. Organizational goals, for example, may include becoming number one in market share of a particular product within a specified timeframe.
Goal congruence refers to the consistency or agreement of individual or departmental actions with overarching organizational goals, ensuring alignment in pursuit of a firm’s central objectives.
Goal setting involves establishing steps to meet the objectives of an individual or a firm. For instance, to achieve a 10% increase in sales, a company may increase each salesperson's quota by $10,000.
Hidden agenda refers to unannounced objectives, needs, expectations, or strategies of a person or group when participating in an activity. Since individuals keep their agendas secret, one has to rely on minimal clues to determine what others are thinking.
Leading measures are predictive indicators that precede an outcome or result, typically used to forecast future performance and guide decision-making processes. These metrics enable organizations to take proactive actions to achieve desired results.
Managed costs are specific expenses that a company can control or influence through internal decisions, strategic planning, and efficient resource management. Careful handling of managed costs can significantly impact a company's operational efficiency and overall profitability.
A management technique in which all levels of management are encouraged to specify quantitative and/or qualitative objectives to be achieved within a set period. Managers must then answer to higher levels of management for the actual performance achieved against these objectives.
A manager is a person responsible for administering and directing an organization's activities to achieve its goals efficiently and effectively.
A marketing plan outlines a company's strategic marketing efforts to promote its products or services. It serves as a comprehensive blueprint for marketing activities over a specified period.
A comprehensive strategy document utilized in various sectors such as general planning, real estate development, and taxation, outlining overall development or operational concepts and objectives.
A mission statement is a formal summary that defines the vision, values, and purpose of a corporation. It serves as a guiding principle for the organization's strategic planning and public messaging.
An objective is a clearly defined and articulated goal or target, free from personal bias or opinion, and representing the ultimate aim of an individual or group's efforts and strategy.
A Profit-Volume (PV) Chart, also known as a Profit-Volume graph, visually represents the relationship between a company's profits and its sales volume. It provides valuable insights into the break-even point, the margin of safety, and the dynamics between fixed and variable costs, aiding in decision-making and strategic planning.
A sales budget is a financial plan that outlines projected sales volumes and revenues for a specific budget period. It serves as a critical component of the budgetary control system and aids in strategic planning and performance evaluation.
Sales mix represents the relative proportions of individual products that make up the total units sold within a company, offering insights into profitability and strategic planning.
Strategic Planning involves the management act of determining a firm's future environment and response to organizational challenges. It is crucial in making decisions that determine the direction of a firm.
A comprehensive assessment framework to evaluate the strengths, weaknesses, opportunities, and threats of an organization, which helps in understanding its current position and future potential.
