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Strategy Management Governance, Risk & Compliance 1 2 Corporate, GRC, Governance, Risk, Compliance, Strategy, Management,Process Area
GRC1
Difference between revisions of "GRC1"
| Line 4: | Line 4: | ||
** Define the [[t:BSC]] - Determine adjustments to standard metrics | ** Define the [[t:BSC]] - Determine adjustments to standard metrics | ||
** Align the organization - Cascade metrics through the organization | ** Align the organization - Cascade metrics through the organization | ||
| − | * Communicate strategy - | + | * Communicate strategy - As-needed strategy updates (adjustments in strategy, strategic initiatives) and periodic [[t:BSC]] messaging (changes in achieved performance) into the organization |
| − | * Manage strategic initiatives | + | * Manage strategic initiatives - Manage the portfolio of strategic initiatives: screen, select, budget, staff, oversee, and/or execute |
* Integrate strategic priorties | * Integrate strategic priorties | ||
** Planning and Budgeting | ** Planning and Budgeting | ||
| − | ** Human resource alignment | + | ** Human resource alignment - Make (achieving the) strategy everyone's responsibility through motivation and training |
| − | ** Knowledge management | + | ** Knowledge management - Enable or coordinate sharing best practices most critical for the strategy |
| Line 15: | Line 15: | ||
* [[sc:A1|Develop Supply Chain Strategy]] | * [[sc:A1|Develop Supply Chain Strategy]] | ||
* [[sc:A1|Align Supply Chain Organization]] | * [[sc:A1|Align Supply Chain Organization]] | ||
| + | ====Notes==== | ||
| + | ''Cascading'' a {{this}} means to translate the corporate-wide scorecard (referred to as Tier 1) down to first business units, support units or departments (Tier 2) and then teams or individuals (Tier 3) | ||
<ins> | <ins> | ||
[[Link::sc:A1]] | [[Link::sc:A1]] | ||
Latest revision as of 13:42, 28 September 2020
Strategy Management is a Term describing the Practice of
- Review Strategy - Periodical (typically monthly) meeting to review strategic issues and to make adjustments to the strategy and its execution.
- Develop strategy - The continual strategy development process, including external and internal competitive analysis, scenario planning, periodic (typically annual) executive team strategy meeting, and advising the executive team on strategic options
- Define the Balanced Scorecard - Determine adjustments to standard metrics
- Align the organization - Cascade metrics through the organization
- Communicate strategy - As-needed strategy updates (adjustments in strategy, strategic initiatives) and periodic Balanced Scorecard messaging (changes in achieved performance) into the organization
- Manage strategic initiatives - Manage the portfolio of strategic initiatives: screen, select, budget, staff, oversee, and/or execute
- Integrate strategic priorties
- Planning and Budgeting
- Human resource alignment - Make (achieving the) strategy everyone's responsibility through motivation and training
- Knowledge management - Enable or coordinate sharing best practices most critical for the strategy
Use Cases
Notes
Cascading a Strategy Management means to translate the corporate-wide scorecard (referred to as Tier 1) down to first business units, support units or departments (Tier 2) and then teams or individuals (Tier 3) Align Strategy
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