A new scorecard for strategic planning
Purpose This paper aims to present several tools to facilitate strategic planning and to demystify the situational analysis and the selection of strategy. These tools include situational analysis scorecards for the environmental scan, market analysis, competitive bench-marking and internal resource...
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| Veröffentlicht in: | The Journal of business strategy 2019-05, Vol.40 (2), p.50-58 |
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| container_title | The Journal of business strategy |
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| creator | Wright, Edward William Hillon, Yue Cai Garrido-Lopez, Mariano Fowler, Drake |
| description | Purpose
This paper aims to present several tools to facilitate strategic planning and to demystify the situational analysis and the selection of strategy. These tools include situational analysis scorecards for the environmental scan, market analysis, competitive bench-marking and internal resource evaluation along with a SWOT (strengths, weaknesses, opportunities and threats) fit matrix. Business student teams have tested these scorecards in capstone projects with good results; however, the concepts remain works-in-process.
Design/methodology/approach
This study introduces tools to assist planners in preparing the situational analysis and deriving logical strategic choices based upon the SWOT analysis. These aids include an environmental factors scorecard, a market favorability scorecard, a competitive benchmarking scorecard, a resource evaluation scorecard and a SWOT fit matrix. Planners can use these devices to produce a research-based situational analysis and as a guide to select the most appropriate strategy.
Findings
These concepts have been beta tested by business student teams in capstone projects with good results but remain works-in-process.
Originality/value
The introduction of these creative scorecards addresses a shortcoming in academic literature concerning the interpretation of situational analysis research data and provides tactical tools linking SWOT to the choice of grand strategy and strategy implementation. |
| doi_str_mv | 10.1108/JBS-08-2017-0107 |
| format | Article |
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This paper aims to present several tools to facilitate strategic planning and to demystify the situational analysis and the selection of strategy. These tools include situational analysis scorecards for the environmental scan, market analysis, competitive bench-marking and internal resource evaluation along with a SWOT (strengths, weaknesses, opportunities and threats) fit matrix. Business student teams have tested these scorecards in capstone projects with good results; however, the concepts remain works-in-process.
Design/methodology/approach
This study introduces tools to assist planners in preparing the situational analysis and deriving logical strategic choices based upon the SWOT analysis. These aids include an environmental factors scorecard, a market favorability scorecard, a competitive benchmarking scorecard, a resource evaluation scorecard and a SWOT fit matrix. Planners can use these devices to produce a research-based situational analysis and as a guide to select the most appropriate strategy.
Findings
These concepts have been beta tested by business student teams in capstone projects with good results but remain works-in-process.
Originality/value
The introduction of these creative scorecards addresses a shortcoming in academic literature concerning the interpretation of situational analysis research data and provides tactical tools linking SWOT to the choice of grand strategy and strategy implementation.</description><identifier>ISSN: 0275-6668</identifier><identifier>EISSN: 2052-1197</identifier><identifier>DOI: 10.1108/JBS-08-2017-0107</identifier><language>eng</language><publisher>Boston: Emerald Publishing Limited</publisher><subject>3-D printers ; Competition ; Competitive advantage ; Customization ; Distribution channels ; Funding cuts ; Generic products ; Market analysis ; Market positioning ; Medical device industry ; Medical equipment ; Medicare ; Product design ; Product development ; Product differentiation ; Product lines ; Researchers ; Strategic planning ; Success factors ; Suppliers ; SWOT analysis ; Threats ; Trends</subject><ispartof>The Journal of business strategy, 2019-05, Vol.40 (2), p.50-58</ispartof><rights>Emerald Publishing Limited</rights><rights>Emerald Publishing Limited 2018</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c226t-f1c32c001f6b5167fdf08f79df8264a5b2d2bc8057bcfbefcdf4135bbc9125f63</citedby><cites>FETCH-LOGICAL-c226t-f1c32c001f6b5167fdf08f79df8264a5b2d2bc8057bcfbefcdf4135bbc9125f63</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.emerald.com/insight/content/doi/10.1108/JBS-08-2017-0107/full/html$$EHTML$$P50$$Gemerald$$H</linktohtml><link.rule.ids>314,780,784,967,11635,27924,27925,52689</link.rule.ids></links><search><creatorcontrib>Wright, Edward William</creatorcontrib><creatorcontrib>Hillon, Yue Cai</creatorcontrib><creatorcontrib>Garrido-Lopez, Mariano</creatorcontrib><creatorcontrib>Fowler, Drake</creatorcontrib><title>A new scorecard for strategic planning</title><title>The Journal of business strategy</title><description>Purpose
This paper aims to present several tools to facilitate strategic planning and to demystify the situational analysis and the selection of strategy. These tools include situational analysis scorecards for the environmental scan, market analysis, competitive bench-marking and internal resource evaluation along with a SWOT (strengths, weaknesses, opportunities and threats) fit matrix. Business student teams have tested these scorecards in capstone projects with good results; however, the concepts remain works-in-process.
Design/methodology/approach
This study introduces tools to assist planners in preparing the situational analysis and deriving logical strategic choices based upon the SWOT analysis. These aids include an environmental factors scorecard, a market favorability scorecard, a competitive benchmarking scorecard, a resource evaluation scorecard and a SWOT fit matrix. Planners can use these devices to produce a research-based situational analysis and as a guide to select the most appropriate strategy.
Findings
These concepts have been beta tested by business student teams in capstone projects with good results but remain works-in-process.
Originality/value
The introduction of these creative scorecards addresses a shortcoming in academic literature concerning the interpretation of situational analysis research data and provides tactical tools linking SWOT to the choice of grand strategy and strategy implementation.</description><subject>3-D printers</subject><subject>Competition</subject><subject>Competitive advantage</subject><subject>Customization</subject><subject>Distribution channels</subject><subject>Funding cuts</subject><subject>Generic products</subject><subject>Market analysis</subject><subject>Market positioning</subject><subject>Medical device industry</subject><subject>Medical equipment</subject><subject>Medicare</subject><subject>Product design</subject><subject>Product development</subject><subject>Product differentiation</subject><subject>Product lines</subject><subject>Researchers</subject><subject>Strategic planning</subject><subject>Success factors</subject><subject>Suppliers</subject><subject>SWOT analysis</subject><subject>Threats</subject><subject>Trends</subject><issn>0275-6668</issn><issn>2052-1197</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2019</creationdate><recordtype>article</recordtype><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>BEC</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><recordid>eNptkE1LAzEQhoMoWKt3jwuCt9jJbJPsHmuxflDwoJ5Dks2Ulna3JlvEf2_KehGcy3t5n5nhYexawJ0QUE1e7t84VBxBaA4C9AkbIUjkQtT6lI0AteRKqeqcXaS0gTyqlCN2Oyva8FUk38XgbWwK6mKR-mj7sFr7Yr-1bbtuV5fsjOw2havfHLOPxcP7_IkvXx-f57Ml94iq5yR8iR5AkHJSKE0NQUW6bqhCNbXSYYPOVyC18-QC-YamopTO-VqgJFWO2c2wdx-7z0NIvdl0h9jmkwYR6_wyaJ1bMLR87FKKgcw-rnc2fhsB5mjDZBsmx9GGOdrIyGRAwi5Eu23-I_74K38An3JfKg</recordid><startdate>20190524</startdate><enddate>20190524</enddate><creator>Wright, Edward William</creator><creator>Hillon, Yue Cai</creator><creator>Garrido-Lopez, Mariano</creator><creator>Fowler, Drake</creator><general>Emerald Publishing Limited</general><general>Emerald Group Publishing Limited</general><scope>AAYXX</scope><scope>CITATION</scope><scope>0U~</scope><scope>1-H</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7X7</scope><scope>7XB</scope><scope>88E</scope><scope>8AO</scope><scope>8FI</scope><scope>8FJ</scope><scope>8FK</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>BEC</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FYUFA</scope><scope>F~G</scope><scope>GHDGH</scope><scope>K6~</scope><scope>K8~</scope><scope>K9.</scope><scope>L.-</scope><scope>L.0</scope><scope>M0C</scope><scope>M0S</scope><scope>M1P</scope><scope>M2T</scope><scope>PQBIZ</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope></search><sort><creationdate>20190524</creationdate><title>A new scorecard for strategic planning</title><author>Wright, Edward William ; Hillon, Yue Cai ; Garrido-Lopez, Mariano ; Fowler, Drake</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c226t-f1c32c001f6b5167fdf08f79df8264a5b2d2bc8057bcfbefcdf4135bbc9125f63</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2019</creationdate><topic>3-D printers</topic><topic>Competition</topic><topic>Competitive advantage</topic><topic>Customization</topic><topic>Distribution channels</topic><topic>Funding cuts</topic><topic>Generic products</topic><topic>Market analysis</topic><topic>Market positioning</topic><topic>Medical device industry</topic><topic>Medical equipment</topic><topic>Medicare</topic><topic>Product design</topic><topic>Product development</topic><topic>Product differentiation</topic><topic>Product lines</topic><topic>Researchers</topic><topic>Strategic planning</topic><topic>Success factors</topic><topic>Suppliers</topic><topic>SWOT analysis</topic><topic>Threats</topic><topic>Trends</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Wright, Edward William</creatorcontrib><creatorcontrib>Hillon, Yue Cai</creatorcontrib><creatorcontrib>Garrido-Lopez, Mariano</creatorcontrib><creatorcontrib>Fowler, Drake</creatorcontrib><collection>CrossRef</collection><collection>Global News & ABI/Inform Professional</collection><collection>Trade PRO</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>Health & Medical Collection</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>Medical Database (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>Hospital Premium Collection</collection><collection>Hospital Premium Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>eLibrary</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>Health Research Premium Collection</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>Health Research Premium Collection (Alumni)</collection><collection>ProQuest Business Collection</collection><collection>DELNET Management Collection</collection><collection>ProQuest Health & Medical Complete (Alumni)</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Professional Standard</collection><collection>ABI/INFORM Global</collection><collection>Health & Medical Collection (Alumni Edition)</collection><collection>Medical Database</collection><collection>Telecommunications Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><jtitle>The Journal of business strategy</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Wright, Edward William</au><au>Hillon, Yue Cai</au><au>Garrido-Lopez, Mariano</au><au>Fowler, Drake</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>A new scorecard for strategic planning</atitle><jtitle>The Journal of business strategy</jtitle><date>2019-05-24</date><risdate>2019</risdate><volume>40</volume><issue>2</issue><spage>50</spage><epage>58</epage><pages>50-58</pages><issn>0275-6668</issn><eissn>2052-1197</eissn><abstract>Purpose
This paper aims to present several tools to facilitate strategic planning and to demystify the situational analysis and the selection of strategy. These tools include situational analysis scorecards for the environmental scan, market analysis, competitive bench-marking and internal resource evaluation along with a SWOT (strengths, weaknesses, opportunities and threats) fit matrix. Business student teams have tested these scorecards in capstone projects with good results; however, the concepts remain works-in-process.
Design/methodology/approach
This study introduces tools to assist planners in preparing the situational analysis and deriving logical strategic choices based upon the SWOT analysis. These aids include an environmental factors scorecard, a market favorability scorecard, a competitive benchmarking scorecard, a resource evaluation scorecard and a SWOT fit matrix. Planners can use these devices to produce a research-based situational analysis and as a guide to select the most appropriate strategy.
Findings
These concepts have been beta tested by business student teams in capstone projects with good results but remain works-in-process.
Originality/value
The introduction of these creative scorecards addresses a shortcoming in academic literature concerning the interpretation of situational analysis research data and provides tactical tools linking SWOT to the choice of grand strategy and strategy implementation.</abstract><cop>Boston</cop><pub>Emerald Publishing Limited</pub><doi>10.1108/JBS-08-2017-0107</doi><tpages>9</tpages></addata></record> |
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| identifier | ISSN: 0275-6668 |
| ispartof | The Journal of business strategy, 2019-05, Vol.40 (2), p.50-58 |
| issn | 0275-6668 2052-1197 |
| language | eng |
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| source | Emerald Journals |
| subjects | 3-D printers Competition Competitive advantage Customization Distribution channels Funding cuts Generic products Market analysis Market positioning Medical device industry Medical equipment Medicare Product design Product development Product differentiation Product lines Researchers Strategic planning Success factors Suppliers SWOT analysis Threats Trends |
| title | A new scorecard for strategic planning |
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