The corporative strategy can be understood as the possibilities that an organization has to define its future positioning [93]. A systematic review of literature has been carried out as appropriate methodology, in order to produce a reliable knowledge inventory, according to what is proposed by [19]. 239253, 2012. [39], the processualist approach shows the same skepticism as evolutionists regarding strategic rationality; they rely less on the capacity of the market to guarantee obtaining maximum benefits. 107, no. Summarizes the basic information that must be taken to evaluate all strategic factors, in order to detect and prioritize according to the levels of importance and significance [135]; according to Azarnivand and Banihabib [136], the techniques of this stage include: (1) Internal Factors Evaluation (IFE) Matrix. 94489454, 2011. R. E. Miles and C. C. Snow, Organizational Strategy, Structure, and Process, Stanford University Press, Stanford, CA, USA, 2003. 5373, 2008. On the contrary, Mintzberg et al. 178, no. [100], different authors provide typologies that describe how companies compete in their respective market environments. 6, pp. [49], CSR is necessary if developing competitive advantages is wanted in the current environment. R. S. Kaplan and D. P. Norton, Using the balanced scorecard as a strategic management system, Harvard Business Review, vol. Finally, BSC transformations focused on the description of the function of the strategic maps, using chains cause-effect among the strategic objectives and how organizations use their leader staff to align the processes and key systems of management with the strategy [192]. 9, pp. 5766, 1978. There is a strategic GAP when the objectives set forth in the future cannot be achieved with the current strategy. 2, pp. 287300, 2008. 395406, 2016. 12671283, 2010. R. S. Kaplan and D. P. Norton, Transforming the balanced scorecard from performance measurement to strategic management: part I, Accounting Horizons, vol. Unlock the power of Strategic Planning & Enterprise Risk Management by integrating them in a cloud platform that will engage everyone. According to Sloan [29], for the classic approach, the progress and stability of the business depends largely on the development or creation of strategies. 35, no. C. Christensen, N. Berg, and M. Salter, Policy Formulation and Administration: A Casebook of Senior Management Problems in Business, Irwin, Homewood, IL, USA, 1980. However, in todays digitizing world, as organizations are increasingly integrating cyber systems into their operations, they are also facing more diverse, sophisticated threats cyber, physical, technological, or naturalthat may have cross-sector impacts. QSPM constituted by EFI and EFE is used to determine the strategic position giving a quantitative strategic matrix [165]. Thus, it should have at least five attributes to be a business strategy [54]: (1) be measurable, (2) clarity in the objectives, (3) resource consumption, (4) assignment of responsible, and (5) that it can be checked. 1, p. 10, 1990. Tahernejad et al. I. Hyvri, Roles of top management and organizational project management in the effective company strategy implementation, Procedia - Social and Behavioral Sciences, vol. Much effort was put over the past decades to better understand risk and its nature, which led to the creation of methodologies and approaches that enable individuals and organizations to make accurate decisions based on logical reasoning. S. Falle, R. Rauter, S. Engert, and R. Baumgartner, Sustainability management with the sustainability balanced scorecard in SMEs: findings from an Austrian case study, Sustainability, vol. 3, pp. 1, no. This model achieves a high performance due to the different combined methods. 784810, 2015. The keywords used are industrial organizations, organizational behavior, strategic administration (SA), strategic approaches, and strategic evaluation. 770779, 2012. F. R. David, The strategic planning matrix-a quantitative approach, Long Range Planning, vol. Privacy Statement. Richard, Branding co-creation with members of online brand communities, Journal of Business Research, vol. It focuses on generating viable alternative strategies, aligning internal and external key factors. A. 37, pp. In our new strategy we have set out three strategic goals underpinned by six commitments that cover leadership, equality, diversity and inclusion, Charters and Teaching and Learning Accreditation, professional development and governance to guide our work to 2024. 20, no. SBU represents a unique business or a group of business related, for which is possible to formulate a common strategy. According to the state by [194196], the classic BSC, stated by Kaplan and Norton, have deficiencies in organizations where its business has dynamic systems, where the interested parties define the performance in different ways (chains of commercial supply, humanitarian logistics). The main importance of the business strategy consists on how to create and reinforce the competitive position of the company on a long term in the market. In addition, ISO 31000s best practices allow organizations to develop a desired risk management culture. (5) Great Strategy Matrix (GSM). (3) Competitive Profile Matrix (CPM). ISO 31000 is an international standard that provides guidelines on managing any type of risk in any business activity. (iii)Strategy strength-threat (ST). 13, pp. Information and data management, IT and 1, pp. 10, pp. Main BSC indicators and classification of investigations strategic evaluation area. 4, pp. E. H. Bowman and D. Hurry, Strategy through the option lens: an integrated view of resource investments and the incremental-choice process, The Academy of Management Review, vol. 12, no. 14561490, 2018. An ISO 31000 certification demonstrates that you have the necessary competencies to support an organization in creating and protecting value. 57, no. J. 1, no. 27, no. H. Shakerian, H. D. Dehnavi, and S. B. Ghanad, The implementation of the hybrid model SWOT-TOPSIS by fuzzy approach to evaluate and rank the human resources and business strategies in organizations (case study: road and urban development organization in Yazd), Procedia-Social and Behavioral Sciences, vol. David et al. All rights reserved. For the strategic evaluation, according to Cokins [170], all those factors coming from the environment, being threats or opportunities, that directly affect the operation of the strategy and that require an effective response must be considered. Through time, its meaning has been evolving, being applied to other human activities and, in particular, to business strategies. Lee and P. R. J. 136144, 2017. F. Maon, A. Lindgreen, and V. Swaen, Organizational stages and cultural phases: a critical review and a consolidative model of corporate social responsibility development, International Journal of Management Reviews, vol. H. Mintzberg, Patterns in strategy formation, Management Science, vol. Y.-C. Shen, P.-S. Chen, and C.-H. Wang, A study of enterprise resource planning (ERP) system performance measurement using the quantitative balanced scorecard approach, Computers in Industry, vol. H. Mintzberg and J. 4, pp. L. Oliveira, P. T. S. Nascimento, A. M. Mello, and A. Fleury, Costs and benefits of following cost strategies in value chains, in Proceedings of the IEEE Portland International Conference on Management of Engineering and Technology (PICMET), pp. 1, pp. M. J. Epstein and M.-J. The concept of strategy over time has been addressed by several authors. Introduction] [2. A. R. Ommani, Strengths, weaknesses, opportunities and threats (SWOT) analysis for farming system businesses management: case of wheat farmers of shadervan district, Shoushtar township, Iran, African Journal of Business Management, vol. 98107, 2015. To meet the objectives of the Strategic Plan in line with the 2030 Agenda, UNDP is implementing six cross-cutting approaches to development, known as Signature Solutions. F. Barnab and C. Busco, The causal relationships between performance drivers and outcomes, Journal of Accounting and Organizational Change, vol. In Section 1, a review is made in the time of the definition of strategy. 7, pp. P. Mao, S. Li, K. Ye, and H. Cai, A field theory based model for identifying the effect of organizational structure on the formation of organizational culture in construction projects, KSCE Journal of Civil Engineering, vol. Further encourages States Parties to the Convention, in particular, to integrate concern for World Heritage into wider national disaster reduction plans and documentation programmes, and to develop Management Plans that include a risk-analysis and management component for World Heritage properties located in their territories; 7. In this approach, the role of the top management is null and nevertheless are fundamental in the identification of the threats. H. Mintzberg, A typology of organizational structure, in Organizations: A Quantum View, pp. One of them is Chandler [5], who proposes that the strategy is the definition of the long-term goals and objectives of a company, the adoptions of actions, and the allocation of necessary resources for the achievement of the objectives. G. Hamel and C. K. Prahalad, Competing for the Future, Harvard Business Press, Brighton, MA, USA, 1996. According to von Kodolitsch et al. 4, no. 31, no. USE THE FILTERS TO REFINE YOUR SEARCH. [162], GSM is a tool that is used to evaluate and fine tune the proper choice of strategies for the company or organization. 3, pp. 13, no. 55, no. 5, pp. 3, no. The identification of critical factors of success is the most important process for the construction of CPM [143]. F. Barnab, A system dynamics-based balanced scorecard to support strategic decision making, International Journal of Productivity and Performance Management, vol. There is a multiple interest in formation of coalitions to take care of the interests of the organizations. 1, pp. The strategy is a model, especially a pattern in a flow of actions. 193221, 2016. 21, no. In the last decades, a quite freely reference has been made to the concept of strategy. A risk management approach based on guidelines of ISO 31000 clearly indicates that organizations are committed to managing risks in every part of the business. M. G. Lipe and S. E. Salterio, The balanced scorecard: judgmental effects of common and unique performance measures, The Accounting Review, vol. E. Zuckerman, Optimal Distinctiveness Revisited: An Integrative Framework for Understanding the Balance between Differentiation and Conformity in Individual and Organizational Identities, Handbook of Organizational Identity, Oxford, UK, 2016. 87104, 2001. Presentation. 11, no. Just as the personality type defines the behavior of the individuals, the type of strategy defines the behavior of the organization. Organizations performing in any industry in any place are constantly exposed to risks. It looks towards the outside looking for placing the organization in an external environment in concrete positions placing determined products or services in particular markets. 884932, 2001. 6, no. P. Van Veen-Dirks and M. Wijn, Strategic control: meshing critical success factors with the balanced scorecard, Long Range Planning, vol. After identifying these risks, they develop long-term strategies for protecting people and property from similar events. Pratiwi et al. 13, pp. 65105, 1968. According to Chang and Huang [124], the SM process consists of three stages: formulation of strategies, implementation of the strategy, and evaluation of the strategy. 39, 1977. J. G. March, Exploration and exploitation in organizational learning, Organization Science, vol. F. Malln, R. Chiva, J. Alegre, and J. Guinot, Organicity and performance in excellent HRM organizations: the importance of organizational learning capability, Review of Managerial Science, vol. Strategy as perspective: it is particularly inherent way of industrial organizations in their way of perceiving the world; it looks towards the interior looking for ways in which things are carried out in a company. 12, Routledge, New York, NY, USA, 2017. M. G. Allen, Diagramming GEs planning for whats watt, Planning Review, vol. M. D. Pelaez, Competitive profile matrix as a tool for evaluating strategic performance of higher education institutions, Journal of Strategy and Performance Management, vol. (3)Internal processes: measures of the critical organizational processes for the strategy, (what should we stand out?), profitability, distribution, and control of processes [188]. A company achieves a superior profitability in its industry when achieving higher prices or lower costs than its competitors; this is achieved through the operative effectiveness or the strategic positioning [58]. Project FONDEF IT17M10012: Multiuser VLC for Underground Mining.. 385397, 2017. R. F. Bento, L. Mertins, and L. F. White, Ideology and the balanced scorecard: an empirical exploration of the tension between shareholder value maximization and corporate social responsibility, Journal of Business Ethics, vol. The strategic managers are in charge of identifying the strategies, as well as to create them starting from a set of elements that are obtained as steps of this model. Theorists of the strategies based on the resources as [41] state that the managers owe their strategies to competitive advantages of the organizations and the market processes, insisting on the informal learning and the personal vision [42]. Your journey to professional development. 12, no. D. Tranfield, D. Denyer, and P. Smart, Towards a methodology for developing evidence-informed management knowledge by means of systematic review, British Journal of Management, vol. The defenders of BSC declare that each business unit must develop and use not only common but also unique measures [193]. A risk management process based on ISO 31000 will enhance the reputation of an organization and give it a competitive advantage. A. Abran and L. Buglione, A multidimensional performance model for consolidating balanced scorecards, Advances in Engineering Software, vol. Financial: measurements of create value for the shareholder, (how do we look to the shareholders?), risk management, and product profitability [, Customers: measurements that reflect the impact of the strategy on customers (how do clients see us?), market segmentation, customer profitability, customer acquisition, and customer satisfaction [, Internal processes: measures of the critical organizational processes for the strategy, (what should we stand out?), profitability, distribution, and control of processes [, Innovation and learning: measures for training the organizations personnel with the necessary skills (can we continue improving and creating value?), technology, human resources, and training [. The Discipline of market Leaders, Addison-Wesley, Boston, MA, USA, 1995 Management. Problems inside and out of the definition of Corporate values is to add to. 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