Basics of major strategic (and analytic) tools

Goal setting and strategy process

Seminar paper from the year 2009 in the subject Business economics - Business Management, Corporate Governance, grade: 1,3, University of Applied Sciences Berlin (FOM), course: Master of Business Administration, language: English, abstract: Both economic and legal basic conditions force organizations to act efficiently in fulfilling corporate requirements. Factors influencing corporate requirements are fiscal, epidemiological, demographic and technical developments. Time and product quality can be additional objectives. Thus, any organization inevitably interacts with its environment. To achieve desired corporate goals, a strategic master plan that evaluates significant key figures is laid out and implemented by the organization's management team. Every strategic discussion begins with an audit that systematically reviews the current efficacy of a business situation in its entirety. Typical questions include the following: 'How well does the corporate strategy work for the specific company as a whole, and for its individual business units?', 'Does the strategy gather information and opinions appropriately, and does it help implement strategic measures that win support and, ultimately, result in growth?', 'Does it fail in certain areas?', 'If yes, what are the reasons?'