E Strategy For The Field Of Commerce

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o Strategy can be defined as a series of correlated decisions at each point of time (or steps, choices = tactics) based on the information available at each point of time (= information set) to reduce the dispersion of eventualities (variance or standard deviation) about a particular future desired outcome (mean or median).

o Application of strategy to the field of commerce is referred to as business strategy
 A series of correlated steps planned to attain a desired business outcome such as achieving cost minimization / internationalization / improved return on capital (note that these ones are desired outcomes or goals and NOT strategy --- Strategy describes the best possible way to move towards those target outcomes).

o Trackermap
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those in the strategic plan.

In Trackermap the above is referred to as the Implementation & Finance sections.

Link between Strategic Plan & Business Plan o Strategic plan decides what needs to be done / why it needs to be done to move towards desired (external) goals and objectives

o Business plan outlines how is it to be done / by whom & at what cost / and when?

o These two entities are correlated “to do the right thing” (Strategic Plan) AND “to do the thing right” (Business Plan). Together they form a Strategic Business Plan.

1.B.2.T2 – Q&A : Strategic Business Planning

• Q: Is the Vision the same Desired Outcome? If Vision is formed later (in Trackermap) how do I know what to aim for to begin my strategy plan?
• A: Vision embodies the desired outcome(s), resources required and uncertainties (risks). Vision is a picture / desired outcome(s) is (are) specific objectives within that picture. Vision is related to Strategic Plan (called Formulation in Trackermap). Mission is a map of the path to attain the desired outcomes. Mission is related to the Business Plan (called Implementation / Finance in Trackermap). Vision and Mission can only be properly and comprehensively articulated towards the end of Strategic Business Planning process.

Trackermap Strategic Business Planning =
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