780817, 2013. The construction of BSC is made in seven steps: analysis of the vision and mission, internal and external analysis of the organization, key factors of the success, relation of the diagram of causes and effects between the factors, definition of the strategic objectives, election of the KPI, and elaboration of the BSC [183]. I. Chiavenato, Comportamiento Organizacional: la Dinamica del Exito de las Organizaciones, McGrawHill/Interamericana editores, Mexico City, Mexico, 2nd edition, 2009. 37, pp. Digitally, the GC must operate as one to benefit all Canadians.. Digital services. Cyert and March [40] visualize the organizations as a system of rational adaptation that responses to a variety of external and internal restrictions when reaching decisions. These authors expose that the strategy is the result of a formal process of planning and the most important role in this corresponds to the senior manager. [35] who states that the organizations that better adapt to the environment are the ones that survive, even though in reality it seems to be that environment has adapted to them. 6, p. 545, 2016. 1, pp. Moreover, to announce the way in which the business units develops or deploys the production resources [120]. 3, pp. Copyright 2020 Guillermo Fuertes et al. (ii)Strategy weakness-opportunity (WO). Cengage Learning EMEA, Andover, UK, 2001. Thompson and Strickland [134] state that the SA model has a fundamental purpose to convert the administrative guidelines of the strategic vision and the mission of the business in indicators of specific performance, in results and consequences that the organization wants to achieve. An educational institution offering market-relevant and unique specializations in Executive MBA, Graduate Diploma and Graduate Certificate programs, A gathering of professionals and experts who discuss on the latest trends and topics, An authentic source of information and inspiration. Project management is the process of leading the work of a team to achieve all project goals within the given constraints. The main contribution of this document was to reveal how and why QSPM can be useful, both theoretical and practical for the design of effective marketing strategies. The successful strategies only emerge as the process of natural selection offering its judgment. The results showed that this industry can follow an aggressive strategy since it takes advantages of its strengths in the opportunities. 4, pp. 760782, 1993. Global objectives indicate the results that are wanted to be achieved in a specific period of time. The review of literature of the current study is divided into four sections. Kaplan and Norton [193] pose that BSC is not only a measurement system of strategic control, able to manage the problem of the implementation of the strategy. The administrators can have a follow-up of the progress of the company through the establishment of the objectives and the measurement of its success or fail at achieving them. 1, pp. Trim, How mutuality reinforces partnership development: Japanese and Korean marketing perspectives, Industrial Marketing Management, vol. Upon completion of this program, you will be able to: Help clients take steps to achieve their life goals through an integrated approach to the management of all their financial affairs, including such areas as: 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. In this article, the systemic literature review method was used to synthesize the result of multiple investigations and scientific literature. Strategy is the main concept of the contemporary era [1] that has come to replace previous management activities such as administration or planification. According to [2, 3], the meaning of the word strategy originated in the military field and comes from the word strategos meaning general in Greek. The implementation of ISO 31000 guidelines can improve operational efficiency by facilitating the integration of risk-based decision-making into governance, planning, management, reporting, policies, values, and culture of an organization. The evolutionary approach raises the inability to generate strategies from inside; according to [30, 31], this approach proposes that the organizations are drifting of the changes of the external environment and depends on the magnitude of it, that is the market which defines the strategy, being this in charge of guaranteeing the minimal or maximum benefits. Section 2 describes the methodology used. M. M. Crossan and M. Apaydin, A multi-dimensional framework of organizational innovation: a systematic review of the literature, Journal of Management Studies, vol. It is that the value added to the product or service offered justifies a higher price in the final product that the customer is not only willing to pay, but satisfied to do it. Online store for ISO and IEC standards, Toolkits, eBooks, etc. 446473, 2011. 32, no. 1, pp. 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. Table 8 classifies the thirty-seven studies categorized in Table 1 (strategic evaluation), taking into account the perspectives and indicators developed for BSC. 1, pp. For David [133], SA is a clear and practical approach for formulation, implementation, and evaluation strategies, which in turn are subdivided in different stages and activities, all pointing to the attainment of the organizational objectives, by means of the obtaining of competitive advantages. In this approach, the role of the top management is null and nevertheless are fundamental in the identification of the threats. Contemporaneously, a new wave of research studies was born that approach to the study of the theory of behavior and organization [1016], and these authors point out that the strategy is a coalignment or an adaptive coordination of various states and trajectories. Chin [84] made an evaluation of how the leadership of men and women influence in the organizational structures, this author states that skills of men and women gain similar legitimacy, but when an organization fails, the perception of competence of women leaders, the status, and the interpersonal skills fall more than those of men. Following with this approach, Hamel and Prahalad [45] defend that the best competitive advantage of a company is its vision of the future; they claim that organizations must search and strengthen the most developed competitive advantages that are difficult to emulate by the competitors. F. R. David, The strategic planning matrix-a quantitative approach, Long Range Planning, vol. 3, pp. 14, no. 2, pp. 38, no. Richard, Branding co-creation with members of online brand communities, Journal of Business Research, vol. (2) Strategic Position and Action Evaluation (SPACE, PEYEA) Matrix. Following this approach, Peters and Waterman [33] state that the keys of excellence have to do with focusing on people, clients, and action. Enterprise Risk ManagementIntegrating with Strategy and Performance, to address the importance of ERM in strategic enterprise planning and performance. Even the best strategies could not reach success, if the administration fails, either when implanting them or when evaluating their results. Consolidated view across the entire process. Porter [28] describes the business strategies in terms of leadership in costs and differentiation of products; March [101] in terms of exploration and exploitation; Treacy and Wiersema [102] in terms of operational excellence, leadership of product and trust with the client; Miles and Snow [103] and Dekoulou and Trivellas [104] in terms of innovation to identify and explore of new products and market opportunities; and Quezada et al. : caveat emptor and the risk of romance with economic models for strategy and policy research, Organization Science, vol. 69, no. 633645, Coimbra, Portugal, September 2017. Van Veen-Dirks and Wijn [210] affirm that BSC gives an inadequate feedback about the strategy content and does not give enough information about the external surroundings. The searching engines used were Proquest, Scopus, EmeraldInsight, Science Direct, and Google Scholar. M. Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors, Simon and Schuster, New York, NY, USA, 2008. A. Kieser and U. Koch, Bounded rationality and organizational learning based on rule changes, Management Learning, vol. C. I. Setiawati and A. C. Wahyono, Purposing division strategy for pharmaceutical producer Dexa Medica in the demanding market, International Journal of Learning and Change, vol. 327356, 2005. 25, no. Bus. 14, no. The way to announce this positioning can go from simple motivation messages until reaching to strict objectives and deeply detailed of the business, relating the indicators and the variables of business, with a rigid methodological approach [94]. A. Presley, L. Meade, and J. Sarkis, A strategic sourcing evaluation methodology for reshoring decisions, Supply Chain Forum: An International Journal, vol. 3, no. 3, no. These state that the application of these principles give the necessary clues for managers to convert their companies in organizations of excellence both in operation as in results. M. Katsioloudes and A. K. Abouhanian, The Strategic Planning Process: Understanding Strategy in Global Markets, Taylor & Francis, New York, NY, USA, 2016. 12, no. 81, no. R. D. Smith, Strategic Planning for Public Relations, Routledge, Abingdon, UK, 2013. 1, pp. The corporative values serve as guide when planning the operation strategy. Chen, What is strategic management, really? Corporative communication managers are in charge of examining the impact and formulating the strategy [98]. Strategy as a pattern: it marks a constant behavior on time. 3, pp. F. Jaumotte and C. Osorio, Inequality and Labor Market Institutions, International Monetary Fund, Washington, DC, USA, 2015. 945954, 2014. The quantitative approach allows understanding the results in light of the investment and the growth forecasts; the numerical part of the results is measured starting from the key performance indicators (KPI). [157] used BCG to analyze the market position and future strategy to improve the potential opportunities of self-connectivity in Asian airports. R. S. Kaplan and D. P. Norton, Balance without profit, Financial Management, vol. 39, 1977. 8, no. 716, 2019. The GC is an open and service-oriented organization that delivers programs and services to citizens and businesses in simple, modern and effective ways that are optimized for digital and available anytime, anywhere and from any device. 69, no. 17, no. Information and data management, IT and 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.-H. Chang and W.-C. Huang, Application of a quantification SWOT analytical method, Mathematical and Computer Modelling, vol. 2038, 2010. According to Sharma and Fisher [107], the main types of functional strategies are: production strategies [108], I+D strategies [109], marketing strategies [110], human resources strategies [111, 112], technological strategies [113], organizational strategies [114], and financial strategies [115]. 4, pp. M. Adamson, E. K. Kelan, P. Lewis, N. Rumens, and M. Slwa, The quality of equality: thinking differently about gender inclusion in organizations, Human Resource Management International Digest, vol. 21, no. 322340, 2009. 307316, 2016. 29, no. 2, pp. This strategy maximizes both internal strengths and external opportunities (maxi-maxi strategy); the strategy can be chosen when you have abundant strengths and favorable external opportunities. 3, pp. (iii)Strategy strength-threat (ST). Strategic planning is a means of administering the formulation and implementation of strategy. 70, pp. L. G. Chin, Unequal egalitarianism, Gender in Management: An International Journal, vol. ISO 31000 focuses squarely on risk management and its role in strategic planning and decision-making, providing guidance on the nature of the ERM and how to implement it.
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