Business Strategy And Planning
Expert-defined terms from the Certificate in Professional Business and Enterprise Coaching Services course at LearnUNI. Free to read, free to share, paired with a professional course.
A3 #
A3 is a problem solving tool used to identify and solve problems in a structured manner, it involves defining the problem, setting goals, and identifying root causes, it is widely used in business strategy and planning to improve processes and enhance decision making, related terms include lean methodology and six sigma, A3 is a powerful tool for business coaches to help clients identify and solve problems.
Action Learning #
Action learning is a process that involves taking action and reflecting on the results, it is a key component of business strategy and planning, it involves identifying a problem, taking action, and evaluating the results, related terms include experiential learning and reflective practice, action learning is a powerful tool for business coaches to help clients develop their problem-solving skills.
Activity Based Costing #
Activity based costing is a method of assigning costs to products or services based on the activities involved in producing them, it is a key component of business strategy and planning, it involves identifying the activities involved in producing a product or service, assigning costs to those activities, and using that information to make decisions, related terms include cost accounting and management accounting, activity based costing is a powerful tool for business coaches to help clients understand their costs and make informed decisions.
Adaptive Strategy #
Adaptive strategy is a type of strategy that involves adapting to changing circumstances, it is a key component of business strategy and planning, it involves being flexible and able to respond to changes in the market or industry, related terms include agile strategy and responsive strategy, adaptive strategy is a powerful tool for business coaches to help clients develop their ability to adapt to changing circumstances.
Ansoff Matrix #
Ansoff matrix is a tool used to identify business growth strategies, it is a key component of business strategy and planning, it involves identifying different strategies for growth, including market penetration, market development, product development, and diversification, related terms include growth strategy and portfolio management, Ansoff matrix is a powerful tool for business coaches to help clients develop their growth strategies.
BCG Matrix #
BCG matrix is a tool used to evaluate business portfolios, it is a key component of business strategy and planning, it involves evaluating different products or services based on their market growth rate and relative market share, related terms include portfolio management and product life cycle, BCG matrix is a powerful tool for business coaches to help clients evaluate their business portfolios.
Benchmarking #
Benchmarking is a process of comparing business processes or performance to industry best practices, it is a key component of business strategy and planning, it involves identifying areas for improvement and implementing changes to improve performance, related terms include best practices and process improvement, benchmarking is a powerful tool for business coaches to help clients improve their performance.
Blue Ocean Strategy #
Blue ocean strategy is a type of strategy that involves creating a new market or industry, it is a key component of business strategy and planning, it involves identifying opportunities to create a new market or industry, and developing a strategy to pursue those opportunities, related terms include innovation and entrepreneurship, blue ocean strategy is a powerful tool for business coaches to help clients develop their ability to innovate and create new opportunities.
Business Model #
Business model is a description of how a business creates, delivers, and captures value, it is a key component of business strategy and planning, it involves identifying the key elements of a business, including the value proposition, customer relationships, and revenue streams, related terms include value proposition and revenue streams, business model is a powerful tool for business coaches to help clients develop their business models.
Business Plan #
Business plan is a document that outlines a business's goals, objectives, and strategies, it is a key component of business strategy and planning, it involves identifying the business's mission, vision, and values, and developing a plan to achieve those goals, related terms include strategic planning and tactical planning, business plan is a powerful tool for business coaches to help clients develop their business plans.
Change Management #
Change management is a process of planning, implementing, and evaluating changes to a business, it is a key component of business strategy and planning, it involves identifying the need for change, developing a plan for change, and implementing that plan, related terms include organizational development and leadership development, change management is a powerful tool for business coaches to help clients manage change.
Competitive Advantage #
Competitive advantage is a condition that allows a business to outperform its competitors, it is a key component of business strategy and planning, it involves identifying the factors that give a business an advantage over its competitors, and developing a strategy to maintain that advantage, related terms include unique selling proposition and value proposition, competitive advantage is a powerful tool for business coaches to help clients develop their competitive advantage.
Core Competence #
Core competence is a set of skills or abilities that are essential to a business's success, it is a key component of business strategy and planning, it involves identifying the skills or abilities that are essential to a business's success, and developing a strategy to maintain those skills or abilities, related terms include key activities and critical success factors, core competence is a powerful tool for business coaches to help clients develop their core competence.
Corporate Social Responsibility #
Corporate social responsibility is a concept that involves businesses taking responsibility for their impact on society, it is a key component of business strategy and planning, it involves identifying the social and environmental impact of a business, and developing a strategy to minimize that impact, related terms include sustainability and social impact, corporate social responsibility is a powerful tool for business coaches to help clients develop their corporate social responsibility.
Cost Benefit Analysis #
Cost benefit analysis is a method of evaluating the costs and benefits of a decision, it is a key component of business strategy and planning, it involves identifying the costs and benefits of a decision, and evaluating whether the benefits outweigh the costs, related terms include decision making and evaluation, cost benefit analysis is a powerful tool for business coaches to help clients make informed decisions.
Critical Success Factors #
Critical success factors are a set of factors that are essential to a business's success, it is a key component of business strategy and planning, it involves identifying the factors that are essential to a business's success, and developing a strategy to maintain those factors, related terms include key performance indicators and success metrics, critical success factors are a powerful tool for business coaches to help clients develop their critical success factors.
Customer Relationship Management #
Customer relationship management is a process of managing a business's relationships with its customers, it is a key component of business strategy and planning, it involves identifying the needs and wants of customers, and developing a strategy to meet those needs and wants, related terms include customer service and loyalty programs, customer relationship management is a powerful tool for business coaches to help clients develop their customer relationship management.
Data Driven Decision Making #
Data driven decision making is a process of making decisions based on data and analysis, it is a key component of business strategy and planning, it involves collecting and analyzing data, and using that data to make informed decisions, related terms include business intelligence and analytics, data driven decision making is a powerful tool for business coaches to help clients make informed decisions.
Decision Making #
Decision making is a process of making choices between different options, it is a key component of business strategy and planning, it involves identifying the options, evaluating the pros and cons of each option, and selecting the best option, related terms include risk management and uncertainty, decision making is a powerful tool for business coaches to help clients develop their decision-making skills.
Disruptive Innovation #
Disruptive innovation is a type of innovation that involves creating a new market or industry, it is a key component of business strategy and planning, it involves identifying opportunities to create a new market or industry, and developing a strategy to pursue those opportunities, related terms include entrepreneurship and innovation, disruptive innovation is a powerful tool for business coaches to help clients develop their ability to innovate and create new opportunities.
Diversification #
Diversification is a strategy that involves expanding a business into new markets or industries, it is a key component of business strategy and planning, it involves identifying opportunities to expand into new markets or industries, and developing a strategy to pursue those opportunities, related terms include growth strategy and portfolio management, diversification is a powerful tool for business coaches to help clients develop their diversification strategies.
Entrepreneurship #
Entrepreneurship is a process of starting and running a business, it is a key component of business strategy and planning, it involves identifying opportunities, developing a business plan, and securing funding, related terms include small business and startups, entrepreneurship is a powerful tool for business coaches to help clients develop their entrepreneurial skills.
Environmental Scanning #
Environmental scanning is a process of monitoring and analyzing the external environment, it is a key component of business strategy and planning, it involves identifying the trends and changes in the external environment, and developing a strategy to respond to those trends and changes, related terms include market research and competitive intelligence, environmental scanning is a powerful tool for business coaches to help clients develop their environmental scanning skills.
Five Forces Analysis #
Five forces analysis is a tool used to analyze the competitive forces in an industry, it is a key component of business strategy and planning, it involves identifying the five forces, including the threat of new entrants, the threat of substitute products, the bargaining power of buyers, the bargaining power of suppliers, and the intensity of rivalry among competitors, related terms include industry analysis and competitive strategy, five forces analysis is a powerful tool for business coaches to help clients develop their competitive strategy.
Gap Analysis #
Gap analysis is a method of identifying the gap between the current state and the desired state, it is a key component of business strategy and planning, it involves identifying the current state, identifying the desired state, and developing a plan to close the gap, related terms include strategic planning and tactical planning, gap analysis is a powerful tool for business coaches to help clients develop their gap analysis skills.
Globalization #
Globalization is a trend that involves the increasing interconnectedness of the world's economies, it is a key component of business strategy and planning, it involves identifying the opportunities and challenges of globalization, and developing a strategy to respond to those opportunities and challenges, related terms include international business and cross cultural management, globalization is a powerful tool for business coaches to help clients develop their ability to operate in a global environment.
Growth Strategy #
Growth strategy is a plan for expanding a business, it is a key component of business strategy and planning, it involves identifying the opportunities for growth, and developing a plan to pursue those opportunities, related terms include market development and product development, growth strategy is a powerful tool for business coaches to help clients develop their growth strategies.
Innovation #
Innovation is a process of creating new products, services, or processes, it is a key component of business strategy and planning, it involves identifying the opportunities for innovation, and developing a plan to pursue those opportunities, related terms include research and development and design thinking, innovation is a powerful tool for business coaches to help clients develop their ability to innovate.
Key Performance Indicators #
Key performance indicators are a set of metrics used to measure a business's performance, it is a key component of business strategy and planning, it involves identifying the metrics that are most important to a business's success, and developing a plan to track and improve those metrics, related terms include performance management and benchmarking, key performance indicators are a powerful tool for business coaches to help clients develop their key performance indicators.
Leadership Development #
Leadership development is a process of developing the skills and abilities of leaders, it is a key component of business strategy and planning, it involves identifying the skills and abilities that are essential to leadership, and developing a plan to develop those skills and abilities, related terms include management development and executive coaching, leadership development is a powerful tool for business coaches to help clients develop their leadership skills.
Market Analysis #
Market analysis is a process of analyzing the market and identifying opportunities and challenges, it is a key component of business strategy and planning, it involves identifying the trends and changes in the market, and developing a strategy to respond to those trends and changes, related terms include market research and competitive intelligence, market analysis is a powerful tool for business coaches to help clients develop their market analysis skills.
Market Segmentation #
Market segmentation is a process of dividing a market into smaller groups, it is a key component of business strategy and planning, it involves identifying the characteristics of each group, and developing a strategy to meet the needs of each group, related terms include target marketing and positioning, market segmentation is a powerful tool for business coaches to help clients develop their market segmentation skills.
Mission Statement #
Mission statement is a statement that outlines a business's purpose and goals, it is a key component of business strategy and planning, it involves identifying the business's purpose and goals, and developing a statement that reflects those purposes and goals, related terms include vision statement and values statement, mission statement is a powerful tool for business coaches to help clients develop their mission statement.
Operational Planning #
Operational planning is a process of planning the day-to-day operations of a business, it is a key component of business strategy and planning, it involves identifying the tasks and activities that need to be performed, and developing a plan to perform those tasks and activities, related terms include tactical planning and implementation, operational planning is a powerful tool for business coaches to help clients develop their operational planning skills.
Organizational Development #
Organizational development is a process of improving the performance and effectiveness of an organization, it is a key component of business strategy and planning, it involves identifying the areas for improvement, and developing a plan to implement changes, related terms include change management and leadership development, organizational development is a powerful tool for business coaches to help clients develop their organizational development skills.
PEST Analysis #
PEST analysis is a tool used to analyze the external environment, it is a key component of business strategy and planning, it involves identifying the political, economic, social, and technological factors that affect a business, related terms include environmental scanning and market research, PEST analysis is a powerful tool for business coaches to help clients develop their PEST analysis skills.
Portfolio Management #
Portfolio management is a process of managing a collection of products or services, it is a key component of business strategy and planning, it involves identifying the products or services that are most important to a business, and developing a plan to manage those products or services, related terms include product life cycle and project management, portfolio management is a powerful tool for business coaches to help clients develop their portfolio management skills.
Positioning #
Positioning is a process of creating a unique image or identity for a product or service, it is a key component of business strategy and planning, it involves identifying the unique characteristics of a product or service, and developing a plan to communicate those characteristics to customers, related terms include branding and marketing, positioning is a powerful tool for business coaches to help clients develop their positioning skills.
Product Life Cycle #
Product life cycle is a concept that describes the stages of a product's life, it is a key component of business strategy and planning, it involves identifying the stages of a product's life, including introduction, growth, maturity, and decline, and developing a plan to manage each stage, related terms include product development and portfolio management, product life cycle is a powerful tool for business coaches to help clients develop their product life cycle management skills.
Project Management #
Project management is a process of planning, organizing, and controlling projects, it is a key component of business strategy and planning, it involves identifying the goals and objectives of a project, and developing a plan to achieve those goals and objectives, related terms include project planning and project execution, project management is a powerful tool for business coaches to help clients develop their project management skills.
Risk Management #
Risk management is a process of identifying, assessing, and mitigating risks, it is a key component of business strategy and planning, it involves identifying the risks that face a business, and developing a plan to mitigate those risks, related terms include risk assessment and crisis management, risk management is a powerful tool for business coaches to help clients develop their risk management skills.
Situation Analysis #
Situation analysis is a process of analyzing the internal and external environment, it is a key component of business strategy and planning, it involves identifying the strengths, weaknesses, opportunities, and threats that face a business, and developing a plan to respond to those factors, related terms include SWOT analysis and environmental scanning, situation analysis is a powerful tool for business coaches to help clients develop their situation analysis skills.
Social Responsibility #
Social responsibility is a concept that involves businesses taking responsibility for their impact on society, it is a key component of business strategy and planning, it involves identifying the social and environmental impact of a business, and developing a plan to minimize that impact, related terms include sustainability and corporate social responsibility, social responsibility is a powerful tool for business coaches to help clients develop their social responsibility.
Stakeholder Analysis #
Stakeholder analysis is a process of identifying and analyzing the stakeholders that affect a business, it is a key component of business strategy and planning, it involves identifying the stakeholders, including customers, employees, investors, and suppliers, and developing a plan to manage those stakeholders, related terms include stakeholder management and communication, stakeholder analysis is a powerful tool for business coaches to help clients develop their stakeholder analysis skills.
Strategic Management #
Strategic management is a process of developing and implementing a business strategy, it is a key component of business strategy and planning, it involves identifying the business's mission, vision, and values, and developing a plan to achieve those goals, related terms include strategic planning and tactical planning, strategic management is a powerful tool for business coaches to help clients develop their strategic management skills.
Strategic Planning #
Strategic planning is a process of developing a business strategy, it is a key component of business strategy and planning, it involves identifying the business's mission, vision, and values, and developing a plan to achieve those goals, related terms include strategic management and tactical planning, strategic planning is a powerful tool for business coaches to help clients develop their strategic planning skills.
Supply Chain Management #
Supply chain management is a process of managing the flow of goods, services, and information from raw materials to end customers, it is a key component of business strategy and planning, it involves identifying the suppliers, manufacturers, distributors, and customers, and developing a plan to manage the flow of goods, services, and information, related terms include logistics and procurement, supply chain management is a powerful tool for business coaches to help clients develop their supply chain management skills.
SWOT Analysis #
SWOT analysis is a tool used to analyze the internal and external environment, it is a key component of business strategy and planning, it involves identifying the strengths, weaknesses, opportunities, and threats that face a business, related terms include situation analysis and environmental scanning, SWOT analysis is a powerful tool for business coaches to help clients develop their SWOT analysis skills.
Tactical Planning #
Tactical planning is a process of developing a plan to achieve a specific goal or objective, it is a key component of business strategy and planning, it involves identifying the specific goal or objective, and developing a plan to achieve that goal or objective, related terms include strategic planning and implementation, tactical planning is a powerful tool for business coaches to help clients develop their tactical planning skills.
Value Chain Analysis #
Value chain analysis is a tool used to analyze the activities that create value for a business, it is a key component of business strategy and planning, it involves identifying the activities that create value, and developing a plan to improve those activities, related terms include value creation and competitive advantage, value chain analysis is a powerful tool for business coaches to help clients develop their value chain analysis skills.
Vision Statement #
Vision statement is a statement that outlines a business's long-term goals and aspirations, it is a key component of business strategy and planning, it involves identifying the business's long-term goals and aspirations, and developing a statement that reflects those goals and aspirations, related terms include mission statement and values statement, vision statement is a powerful tool for business coaches to help clients develop their vision statement.
Business coaches can use these terms to help their clients develop their… #
Business coaches can use these terms to help their clients develop their business strategy and planning skills, and to improve their overall performance and effectiveness, by providing them with the knowledge and tools they need to succeed in today's competitive business environment, and by helping them to develop their critical thinking and problem-solving skills, business coaches can help their clients achieve their goals and objectives, and to create a sustainable and successful business.