1.1. Determine Strategic Decision
- Definition: The activity of determining company's position in the market as well as company's strengths and weaknesses in order to create a suitable strategy
- Example: Using PESTEL to assess external environment
- Synonym: PEST, Porter's 5 forces, SWOT, etc.
1.2. Develop Business Strategy
- Definition: Basing on the external and internal assessment, business's strategy is determined on a high level
- Example: Determining primary business, business model, values, mission statement, organizational goals and structure
- Synonym: n/a
1.3. Build Strategy Plan
- Definition: The activity of setting short-term goals as well as priorities, methods to measure goals
- Example: To achieve the company's goals - increase customer satisfication, short-tem plans are proposed using the SMART goal setting (specific, measurable, actionable, relevant, timely): in the next year, we will decrease time to process customer complaint by 25% ( meaning increaase customer satisfaction through customer complaint process)
- Synonym: JKPIs, SMART goals. etc.
1.4. Manage and Measure Strategic Initiatives
- Definition: When strategic initiatives are set, they are controlled, measured and adapted in a regular basis
- Example: Usage of KPIs to measure strategic initiatives, review the initiatives quarterly
- Synonym: implementation schedule
1.5. Manage Business Processes
- Definition: This activity defines and manage processes that the organization performs
- Example: The scope and tasks in a customer complaint resolution process
- Synonym: process management
1.6. Manage portfolio, programs, projects
- Definition: This activity performs management of brand/product portfolio, as well as the programs in the organization and the currently active projects
- Example: Human Resource Management (HRM) function has onboarding program for new hires, as well as corporate social programs for the employees. These programs needs to be kept track of and managed
- Synonym: Organization programs, organization projects, portfolio
1.7. Manage Enterprise Quality
- Definition: The goal of this process is to establish, measure and maintain enterprise's quality requirements
- Example: Companies in food industry are expected to meet the ISO 22000 standard, which comprises of ISO 9000 and the HACCP standards
- Synonym: Quality standards
1.8. Manage Change
- Definition: The process of alternation of an existing business model, philosophy or business approach, designed to improve a company’s overall operations
- Example:
In 2004 after the oil crisis that negatively effected Shell’s share price, a new Chairman was put into place, Jeroen Van Der Veer. He believed that in order for the company to survive, structural transformations needed to be made. This includes 80 Shell operating units.
- Synonym: change management, continous improvement
1.9. Manage enterprise-wide knowledge management capability
- Definition: This sub-function deals with how enterprise manage its knowledge about certain processes
- Example: Some organizations use Center of exellence (CoE) to manage their knowledge, some outsource their process and therfore, have their knowledge outsourced
- Synonym: CoE, knowledge management