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Strategy and business Planning Infographic

Glossary of Terms Strategic planning Glossary of Terms

Audit Key elements Mission Statement

An independent examination of data, Defines the essence of a company:
in order to form a responsible opinion why it exists, what it does, what it
about the efficiency and effectiveness Vision: Where the organization stands for, what products or services
of the company's activities or wants to be offers to customers. An effective
processes. It offers recommendations mission statement should be concise,
Mission: The purpose of the
for correcting existing errors and inspiring, easily understood and
improving current systems, processes
organization communicated and long-term
or procedures. Values: The beliefs the influence oriented.
the behaviors of the employees
Best Practice Objective
Value drivers: The characteristics
A method that proved to achieve of the company’s activities that A precise statement of what an
superior results than the ones organization wants to achieve. It is a
reflect how it generates value for Represents the path we take from why component of the strategic intent,
obtained with other means. Being that
its stakeholders we exist (Mission) to what we want to describing at a high level the
effective, it is generally used as a
benchmark. become (Vision). company’s priorities and outcomes
that will lead to an improved
performance.
Cascading
Environmental scanning
The process of developing aligned Performance Culture
scorecards throughout the
A system that promotes a diverse,
organization. Each level (strategic, Definition innovative and high-performing
departmental and individual) will
develop scorecards based on the Represents the process that systematically surveys and interprets relevant data to identify external opportunities workforce, by implementing and
objectives and indicators they can maintaining effective performance
and threats. management systems, programs to
influence from the Scorecard of the
group to whom they report. support the professional development
Key Performance Indicator (KPI) of employees and continuous learning.
A measurable expression for the The external macro and micro environment The internal environment
achievement of a desired level of
results in and area relevant to the
Performance Management
evaluated entity’s activity. Taking actions based on the results of
PESTEL Porter's 5 Forces SWOT the evaluation, to ensure targets are
achieved. A strategic and integrated
Dashboard organizational capability that delivers
In performance management, a sustained success to organizations, by
dashboard is used for monitoring data improving the performance of systems
on a daily basis. It is characterized by and people.
visual representations of data that Based on the environmental scanning, the following elements of a Performance Management System can be developed.
enable fast and easy understanding of Performance Management
the performance status. Architecture
Goals Objectives KPIs Initiative
A conceptual construct illustrating the
Data Governance performance management tools and
Clustering tool for Reflection of what we A measurable expression Activity with start dates
Is the process by which companies the relationship between them as part
objectives around the need to achieve as part for the achievement of a and specific outputs to of a performance management
govern appropriate access to their
critical data, by measuring and same theme of our strategy desired level of results in be generated system. It shows the interaction
mitigating operational and security an area relevant to the between the system’s components and
risks associated with access to data. entity’s activity outlines each component’s role.

Framework Program
The basic structure of something; a set A structured group of projects aiming
of ideas or facts that provide support Early Warning Systems: Develop the business intelligence system in order to work as an early warning system to achieve the complementary
for something. outcomes.

Time reference: now T0 Time reference: in the future T1 Scorecard

Goal Identify events and mini-trends in the company’s Imagine how could they evolve later, into trends
An overarching statement of environment A performance management tool used
attainment / achievement that is Assess their current impact on your business Assess the probability of them growing intro trends to measure the performance of
proposed to be accomplished with an performance companies against established targets.
implication of sustained effort and It consists of a collection of KPIs
energy. Typically they are more correlated with the company's
generic and integrative of objectives. objectives.

Time reference: now T0 Time reference: in the future T1

Identify related internal strengths and weaknesses Assess their impact on your performance if they may Value Driver
Initiative
Decide how you could best take advantage of become trends A key element, process or capability
A corrective action / activity / project opportunities and fight off vulnerabilities Identify the threats and opportunities that each within the business that if one directs
/ program initiated to support the event & mini-trend generates resource at (capital, people or
organization's strategy and to
strategic initiatives) is likely to lead to
contribute to the achievement of its
an increase added value.
objectives. Initiatives vary in
complexity and size, ranging from
small scale, short term changes, to
Value added by a strategic plan Strategy communication & launch Strategy implementation Value Statement
projects implemented with strict Important and lasting belief or ideal
governance and to large scale Clarity Audience Anual reviews shared by the members of an
transformational / change programs. Paint a clear picture of Stakeholders Paint a clear picture of organization about what is good / bad
strategy strategy and desirable / undesirable.
Management
Focus Message Strategy re-alignment Vision
The art of coordinating an
Focus on what matters / Key messages Focus on what matters /
organization’s resources (money, The expression of the ultimate
time, people, materials, technology) requires attention requires attention aspirations of the company. The vision
in order to achieve defined objectives. should articulate the future image of
It has 4 basic functions: to plan, Improvement Tools and Activities Strategy and crisis the company and remind to
to.organize, to influence and to Monitor progress towards Have the role to communicate Monitor progress towards
management stakeholders what the organization is
control. the desired state the desired state trying to achieve.

organization Research education

2004 Year of establishment
49,280 # Organizations assisted
through smartKPIs.com 6,544 # Training hours delivered
780 # Training days delivered
160 # In-house training
courses delivered

22 # Certified trainers
21,951 # KPI examples published
on smartKPIs.com 4,823 # Professionals trained
332 # Education programs
delivered 31 # Countries where we delivered
educational programs

4 12 1,176 165 6
# Offices around the globe. # Years spent on
# Open training # Continents on which
Australia, Malaysia, Romania, researching performance # Client organizations courses delivered we delivered training
United Arab Emirates. best practice