Monday, July 23, 2012

Strategy related definitions

Posted by Kumara sampath 10:28 AM, under | No comments

Strategy :- Strategy can be defined as 'a course of action, including the specification of resources required, to achieve a specific outcome.

Strategic Planning :- Strategic Planning is the formulation, evaluation and selection of strategies for the purpose of preparing a long-term plan of action to attain objectives.

Strategic information :- Strategic information is used to plan the objectives of the organisation, and the asses whether to objectives are being met in practice.

Strategic information is:
01. Derived from both internal and external sources.
02. Summarized at a high level.
03. Relevant to the long term.
04. Concerned with the whole organisation.
05. Often Prepared on 'ad hoc' Basis
06. Both quantitative and qualitative.
07. Uncertain, requiring assumptions to be made regarding the future.

Tactical information is:

01. Primarily generated  internally and external sources.
02. Summarized at a relatively low level.
03. Relevant to the shot and medium term.
04. Concerned with the activities or departments.
05. Prepared on routinely and regularly
06. Based on the quantitative and measures.

Operational information is:

01. Derived from internal sources.
02. Detailed, being the processing of row data.
03. Relevant to the shot and immediate term.
04. Task-specific.
05. Prepared very frequently
06. largely quantitative.



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