Strategic Management Process
The Role of BI in Strategic Decision Making
Resource Allocation
Human Resources
Strategic Planning through Data Analysis
Planning
Business Evaluation
Resource Assessment
Risk Management 
Risk
management is a systematic approach to identifying, assessing, and mitigating risks that may negatively impact an organization’s ability to achieve its objectives
...as follows: Type of Risk Description
Strategic Risk Risks that affect the long-term goals and objectives of an organization
...Operational Risk Risks arising from internal
processes, people, and systems
...
Strategic Goals Strategic goals are essential components of an organization’s strategic planning
process ...See Also Business Analytics Business Intelligence Strategic Planning Performance
Management Organizational Development Autor: MoritzBailey
...
The Role of BI in Strategic Decision Making Business Intelligence (BI) plays a crucial role in the
strategic decision-making
process of organizations
...Risk
Management BI helps identify potential risks and opportunities through predictive analytics
...
Resource Allocation Resource allocation is a critical
process in business that involves distributing available resources among various projects, departments, or initiatives
...Effective resource allocation can significantly impact a company's performance and its ability to achieve
strategic objectives
...Facilitates Risk
Management: Allocating resources appropriately can help mitigate risks associated with project failures
...
Human Resources (K)
Human Resources (HR) is a critical function within organizations that focuses on the
management and development of an organization's workforce
...The primary goal of HR is to maximize employee performance and ensure that the organization meets its
strategic objectives
...21st Century: The rise of technology in HR
processes, including HR software and data analytics
...
Strategic Planning through Data Analysis Strategic planning through data analysis is a critical approach that organizations use to make informed decisions and shape their future direction
...Overview of Strategic Planning Strategic planning is a systematic
process that organizations use to define their direction and make decisions on allocating resources to pursue this direction
...Applications of Prescriptive Analytics Prescriptive analytics can be applied across various business functions: Supply Chain
Management: Optimizing inventory levels and logistics
...
Planning Planning is a fundamental aspect of business
management that involves setting objectives and determining a course of action for achieving those objectives
...Planning Planning can be categorized into several types, each serving a distinct purpose within an organization:
Strategic Planning: Long-term planning focused on the overall direction of the organization
...The Planning
Process The planning process typically involves several key steps: Define Objectives: Clearly articulate the goals that the organization aims to achieve
...
Business Evaluation Business evaluation is a systematic
process used to assess the performance, value, and potential of a business
...Guiding
strategic planning and decision-making
...Balanced Scorecard A strategic planning and
management system that measures organizational performance across various perspectives
...
Resource Assessment Resource Assessment is a critical
process in the field of Business Analytics and Data Analysis, focusing on evaluating the availability and utilization of resources within an organization
...This process helps businesses make informed decisions regarding resource allocation, optimization, and
strategic planning
...Risk
Management Assessing resources helps identify potential risks and develop mitigation strategies
...
Performance encompasses various metrics and indicators that help in assessing the efficiency and effectiveness of different operations,
processes, and strategies within the business
...Performance measurement is crucial for decision-making and
strategic planning
...Balanced Scorecard The Balanced Scorecard is a strategic planning and
management system that organizations use to align business activities to the vision and strategy of the organization
...
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