What Is the Best Strategy Planning Software
Gone are the times when top managers used pencils and paper to design strategic plans. Well, of course the initial plans first appear on paper and only then go either online or become part of specialized software. These days, major businesses and top companies are using special strategy planning software that visualizes strategy in the easy to understand and comprehensive way. Strategy planning software is not just an application that draws graphs and maps. This is a strong analytical tool that is used both for strategy planning, analysis of strategy, evaluation of co performance, designing of strategy maps, amending strategies and sets of key performance indicators etc. We are talking here about worthy Software Solutions that can really help top managers automate the process of performance evaluation and strategic planning. If your company has made a decision to use balanced scorecard you will most certainly need reliable and effective strategic planning and performance evaluation software. In this article, we will give a brief overview of features that strategic planning software should have as well as share with you a couple of myths and mistakes associated with these applications. Let's begin with features.
Naturally, a strategy should be comprehensive and easy to understand for everyone in the company. Sure, top managers and strategic development officers have no problem reading complicated documents and presentations. However, company shareholders and ordinary personnel need something easier. For this reason strategic planning software should certainly have a feature that transforms strategic plans into that strategy map that visualizes company goals. If we're talking about balanced scorecard, then comprehensive strategy maps should be built. A strategy map demonstrates cause and effect ties between various categories of BSC. As known, balanced scorecard consists of four categories: financial, customer, internal business processes, learning and growth. It should be noted that an effective strategy map contains both goals and measures to be evaluated. As such a way both top managers and ordinary personnel will clearly understand what needs to be accomplished in order to achieve strategic goals. An effective strategic planning solution should certainly have strategy map design feature.
It is not a secret that most businesses are operating in volatile and changeable markets. Strategy sometimes needs to be amended. That's why it is important that managers can have the possibility to introduce new key performance indicators, amend existing ones, change weights for various categories and indicators, change the way key performance indicators are evaluated or introduce changes to their top values. In other words effective strategic planning software should be characterized by flexibility and ability to adapt to changes.
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