24 June 2016

Strategic Management: SWOT Analysis (Definitions)

 "A scan of the business environment to identify the organization's strengths and weaknesses and the opportunities and threats it faces." (Teri Lund & Susan Barksdale, "10 Steps to Successful Strategic Planning", 2006)

"A method that enables companies to view strengths, weaknesses, opportunities, and threats together." (Annetta Cortez & Bob Yehling, "The Complete Idiot's Guide® To Risk Management", 2010)

"A planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a particular strategic direction for your business." (Gina Abudi & Brandon Toropov, "The Complete Idiot's Guide to Best Practices for Small Business", 2011)

"Involves the evaluation of strengths and weaknesses, which are internal factors, and opportunities and threats, which are external factors." (Linda Volonino & Efraim Turban, "Information Technology for Management 8th Ed", 2011)

"Method of studying and identifying an organization's strengths, weaknesses, opportunities, and threats." (Leslie G Eldenburg & Susan K Wolcott, "Cost Management" 2nd Ed, 2011)

"A problem-solving or decision analysis technique in which strengths, weaknesses, opportunities, and threats to the project or organization are examined." (Bonnie Biafore & Teresa Stover, "Your Project Management Coach: Best Practices for Managing Projects in the Real World", 2012)

"An analysis process highlighting strengths, weaknesses, opportunities, and threats to an entity." (Joan C Dessinger, "Fundamentals of Performance Improvement" 3rd Ed, 2012)

"An input into a strategic-planning process defined by Michael Porter. It focuses on identifying an organization’s strengths, weaknesses, opportunities, and threats." (Evan Stubbs, "Delivering Business Analytics: Practical Guidelines for Best Practice", 2013)

"Analysis of strengths, weaknesses, opportunities, and threats of an organization, project, or option." (For Dummies, "PMP Certification All-in-One For Dummies, 2nd Ed.", 2013)

"An analysis of the company’s strengths and weaknesses compared to the opportunities and threats in the market place." (Pamela Schure & Brian Lawley, "Product Management For Dummies", 2017)

"A technique that examines a project from each of the strengths, weaknesses, opportunities, and threats perspectives." (Cate McCoy & James L Haner, "CAPM Certified Associate in Project Management Practice Exams", 2018)

11 June 2016

Strategic Management: Resilience (Definitions)

"The ability to recover from challenges or to overcome obstacles. In a social-ecological context this refers to the innovation capacity of the organization to successfully address societal and environmental challenges." (Rick Edgeman & Jacob Eskildsen, "Social-Ecological Innovation", 2014)

"The quality of being able to absorb systemic 'shocks' without being destroyed even if recovery produces an altered state to that of the status quo ante." (Philip Cooke, "Regional Innovation Systems in Centralised States: Challenges, Chances, and Crossovers", 2015)

"The ability of an organization to quickly adapt to disruptions while maintaining continuous business operations and safeguarding people, assets, and overall brand equity. Business resilience goes a step beyond disaster recovery, by offering post-disaster strategies to avoid costly downtime, shore up vulnerabilities, and maintain business operations in the face of additional, unexpected breaches." (William Stallings, "Effective Cybersecurity: A Guide to Using Best Practices and Standards", 2018)

"A capability to anticipate, prepare for, respond to, and recover from significant multi-hazard threats with minimum damage to social well-being, the economy, and the environment." (Carolyn N Stevenson, "Addressing the Sustainable Development Goals Through Environmental Education", 2019)

"The ability of a project to readily resume from unexpected events, threats or actions." (Phil Crosby, "Shaping Mega-Science Projects and Practical Steps for Success", 2019)

"The ability of an infrastructure to resist, respond and overcome adverse events" (Konstantinos Apostolou et al, "Business Continuity of Critical Infrastructures for Safety and Security Incidents", 2020)

"The capacity to respond to, adapt and learn from stressors and changing conditions." (Naomi Borg & Nader Naderpajouh, "Strategies for Business Sustainability in a Collaborative Economy", 2020)

"The word resilience refers to the ability to overcome critical moments and adapt after experiencing some unusual and unexpected situation. It also indicates return to normal." (José G Vargas-Hernández, "Urban Socio-Ecosystems Green Resilience", 2021)

"Operational resilience is a set of techniques that allow people, processes and informational systems to adapt to changing patterns. It is the ability to alter operations in the face of changing business conditions. Operationally resilient enterprises have the organizational competencies to ramp up or slow down operations in a way that provides a competitive edge and enables quick and local process modification." (Gartner)

[Operational resilience:] "The ability of an organization to absorb the impact of any unexpected event without failing to deliver on its brand promise." (Forrester)

[Business resilience:] "The ability to thrive in the face of unpredictable events and circumstances without deteriorating customer experience or sacrificing the long-term viability of the company." (Forrester)

06 June 2016

Strategic Management: Risk Transfer/Transference (Definitions)

"Shifting currently or potentially risky activities to another company." (Annetta Cortez & Bob Yehling, "The Complete Idiot's Guide® To Risk Management", 2010)

"A form of risk treatment involving the agreed distribution of risk with other parties" (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

"A risk response strategy whereby the project team shifts the impact of a threat to a third party, together with ownership of the response." (Project Management Institute, "The Standard for Portfolio Management 3rd Ed.", 2012)

"Transferring all or part of the cost of a risk to a third party (most commonly an insurance provider)." (Mark Rhodes-Ousley, "Information Security: The Complete Reference" 2nd Ed., 2013)

"One of the risk treatment options is to transfer the risk to or to share it with a third party. Transferring or sharing the risk, however, does not change ownership of the risk, which remains with the organisation itself, regardless of who else shares the risk." (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

"Project team shifts the impact of a threat to a third party together with ownership of the response." (Cate McCoy & James L Haner, "CAPM Certified Associate in Project Management Practice Exams", 2018)

"A form of risk treatment involving the agreed distribution of risk with other parties." (ISO Guide 73:2009). 

Strategic Management: Control (Definitions)

"The process of comparing actual performance with planned performance, analyzing variances, evaluating possible alternatives, and taking appropriate corrective action as needed." (Timothy J  Kloppenborg et al, "Project Leadership", 2003)

"Comparing actual performance with planned performance, analyzing variances, assessing trends to effect process improvements, evaluating possible alternatives, and recommending appropriate corrective action as needed." (Cynthia Stackpole, "PMP® Certification All-in-One For Dummies®", 2011)

"Controls set out how you propose to stick to your plan in the face of the challenges of the real world, and what you will do when reality forces your project to deviate from plan." (Mike Clayton, "Brilliant Project Leader", 2012)

"The power to direct the management and policies of a business enterprise." (Mark L Zyla, "Fair Value Measurement", 2012)

"As per the IIA definition, any action taken by the management, the board, and other parties to manage risk and increase the likelihood that established objectives and goals will be achieved. Management plans, organizes, and directs the performance of sufficient actions to provide reasonable assurance that objectives and goals will be achieved." (Sally-Anne Pitt, "Internal Audit Quality", 2014)

"Controls can be strategic, tactical or operational. Strategic controls are very high level, such as risk avoidance, transfer, reduction and acceptance. Tactical controls determine a general course of action, such as detective, preventative, corrective and directive Operational controls determine the actual treatment, such as technical or logical, procedural or people and physical or environmental." (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

"Safeguards used to minimize the impact of threats." (Manish Agrawal, "Information Security and IT Risk Management", 2014)

"Actions or changes put in place to reduce a weakness or potential loss. A control is also referred to as a countermeasure." (Weiss, "Auditing IT Infrastructures for Compliance" 2nd Ed, 2015)

"Safeguard that is put in place to reduce a risk, also called a countermeasure." (Adam Gordon, "Official (ISC)2 Guide to the CISSP CBK" 4th Ed., 2015)

"Manual or automated mechanisms to ensure events or activities are tracked and potentially limited in their scope or impact." (Gregory Lampshire, "The Data and Analytics Playbook", 2016)

"A measure that is modifying risk." (ISO Guide 73:2009)

"Means of managing a risk, ensuring that business objectives are achieved, or ensuring that a process if followed" (ITIL)

05 June 2016

Strategic Management: Risk Analysis (Definitions)

"The evaluation, classification, and prioritization of risks." (Sandy Shrum et al, "CMMI®: Guidelines for Process Integration and Product Improvement", 2003)

"The process of identifying, characterizing, and prioritizing risks." (Richard D Stutzke, "Estimating Software-Intensive Systems: Projects, Products, and Processes", 2005)

"The process of assessing identified risks to estimate their impact and probability of occurrence (likelihood)." (Tilo Linz et al, "Software Testing Practice: Test Management", 2007)

"The process of measuring and analyzing the risks associated with financial and investment decisions. Risk refers to the variability of expected returns (earnings or cash flows)." (Jae K Shim & Joel G Siegel, "Budgeting Basics and Beyond", 2008)

"The process of assessing identified risks to estimate their impact and probability of occurrence (likelihood)." (Requirements Engineering Qualifications Board, "Standard glossary of terms used in Requirements Engineering", 2011)

"A formal definition of risks based on asset identification, threat enumeration, and consequence evaluation." (Mark Rhodes-Ousley, "Information Security: The Complete Reference, Second Edition, 2nd Ed.", 2013)

"Systematic use of available information to determine how often specified events may occur and the magnitude of their likely consequences." (Chartered Institute of Building, "Code of Practice for Project Management for Construction and Development" 5th Ed., 2014)

"The process to comprehend the nature of risk and to determine the level of risk." (David Sutton, "Information Risk Management: A practitioner’s guide", 2014)

"A process undertaken to comprehend the nature of risk and to determine the level of risk." (William Stallings, "Effective Cybersecurity: A Guide to Using Best Practices and Standards", 2018)

"The process to comprehend the nature of risk and to determine the level of risk" (ISO Guide 73:2009). 

"The process of assessing identified project or product risks to determine their level of risk, typically by estimating their impact and probability of occurrence (likelihood)" (ISTQB)

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