Explaining the Basics of the Strategic Development Process

Every organization needs a strategy to be able to turn its vision into reality. This strategy is developed through a series of steps that involves strategic thinking and analysis of certain set of information. Most successful organizations usually have a strategic development process instituted that enables them to go through these steps. Although the strategic [...]

Balanced Scorecard Framework

The Balanced Scorecard Framework is a strategic management tool that was developed to ensure alignment of an organization's activities with its strategy. Over the past few years, BSC has become a very popular tool in organizations. The tool incorporates four dimensions of measuring strategy against an organization's performance. Those four measures are the following: Financial [...]

Definition: Organizational Structure

An organizational structure defines how the organization is structured in terms of carrying out the functions and processes of the organization through its decomposition in various departments and groups. It also defines the roles and responsibilities of people in an organization and their reporting relationship to each other. Most organizational structures are represented in a [...]

Definition: Net Present Value (NPV)

Net Present Value (NPV) is a critical measure in business and project management that is used to make investment decisions. It is calculated by subtracting the present value of project investments from the present value of expected future cash inflows. A positive value indicates a favorable investment. Back to Project Management Terms and Concepts Back to [...]

Definition: Strategic Fit

A strategic fit between two or more organizational elements reflects the degree to which these elements complement each other in achieving a certain business objective or goal. The greater the strategic fit, the higher the performance. For example, a strategic fit between organizational processes and organizational structure will yield to a better functioning organization. Any [...]