What is meant by Procedure strategies?
The term "approach strategies" refers to overarching plans, methods, and frameworks that define how specific goals or projects will be achieved. Approach strategies provide a structured framework within which processes, resources, and schedules are organized and implemented. They are used across various domains, from business planning to software development and project management.
Typical software functions in the area of "approach strategies":
- Strategy Planning: Support for developing and visualizing strategies, including the definition of goals and milestones.
- Resource Allocation: Software-based assignment of resources (e.g., personnel, budget, time) to support the implementation of the approach strategy.
- Goal Tracking and Monitoring: Automatic tracking of progress, key performance indicators (KPIs), and achievement of defined goals.
- Scenario Planning: Simulation of different scenarios and their impact to determine the best course of action.
- Risk Analysis and Management: Identification and assessment of risks related to strategy implementation, and development of mitigation measures.
- Reporting and Dashboards: Creation of real-time reports and graphical representations to visualize progress and adherence to strategic goals.
- Change Management: Tracking and management of changes in the strategy and adjustment of associated plans.
- Team Collaboration: Tools to support team collaboration in the planning and execution of strategic actions.
Examples of "approach strategies":
- Top-Down Strategy: Decisions and plans are made at the top management level and passed down for implementation.
- Bottom-Up Strategy: Strategic decisions are initiated at lower levels and passed up for approval.
- Growth Strategy: Focuses on achieving revenue or market share increases through expansion, diversification, or product development.
- Exit Strategy: Planning for the orderly exit from a project, market, or business area.
- Digitalization Strategy: A strategic approach to implementing digital technologies to improve business processes and products.