A scan of the internal and external environment is an important part of the strategic planning process. Environmental factors internal to the firm usually can be classified as strength (S) or weaknesses (W), and that external to the firm can be classified as opportunity (O) or threats (T). Such an analysis of the strategic environment is referred to as a SWOT analysis.
The SWOT analysis provides information that is helpful in matching the firm's resources and a capability to the competitive environment in which it operates. As such, it is instrumental in strategy formulation and selection.
Showing posts with label S. Show all posts
Showing posts with label S. Show all posts
Supply Chain Management
Managing the movement of goods from raw materials to the finished product delivered to customers. Supply Chain Management aims to reduce operating costs, lead times, and inventory and increase the speed of delivery, product availability, and customer satisfaction.
Stratification
A technique used to analyze/divide a universe of data into homogeneous groups (strata) often data collected about a problem or event represents multiple sources that need to treated separately.
It involves looking at process data, splitting it into distinct layers (almost like rock is stratified) and doing analysis to possibly see a different process.
For instance, you may process loans at your company. Once you stratify by loan size (e.g. less than 10 million, greater than 10 million), you may see that the central tendency metrics are completely different which would indicate that you have two entirely different processes...maybe only one of the processes is broken.
Stratification is related to, but different from, Segmentation.
A stratifying factor, also referred to as stratification or a stratifier, is a factor that can be used to separate data into subgroups. This is done to investigate whether that factor is a significant special cause factor.
It involves looking at process data, splitting it into distinct layers (almost like rock is stratified) and doing analysis to possibly see a different process.
For instance, you may process loans at your company. Once you stratify by loan size (e.g. less than 10 million, greater than 10 million), you may see that the central tendency metrics are completely different which would indicate that you have two entirely different processes...maybe only one of the processes is broken.
Stratification is related to, but different from, Segmentation.
A stratifying factor, also referred to as stratification or a stratifier, is a factor that can be used to separate data into subgroups. This is done to investigate whether that factor is a significant special cause factor.
Strategic Planning
Strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future.
Statistics
A branch of mathematics, dealing with the collection, analysis, interpretation and presentation of masses of numerical data.
Statistically Significant
A result that leads us to reject the null bypothesis. What is observed has small probability assuming that the null hypothesis is true. The size of such a predetermined probability is called the significance level and denoted alpha. This is normally represented by large test statistics or small P-values.
Statistical Quality Control (SQC)
The application of statistical methods for measureing and improveing the quality of processes. SPC is one method included in SQC.
Statistical Process Control(SPC)
The application of statistical techniques in the control of processes. SPC is often considered a subset of SQC, where the emphasis in SPCis on the tools associated with the process but not product acceptance techniques.
Statistical inference
Determining when dirrerences in results might be due to random variation, and when differences in results cannot be attributed to random variation.
Statistical Control
A process in which variation in the outcome arises only from common causes. Also called a predictable process.
Statistic
A numerical value, such as standard deviation or mean, that characterizes the sample or population from which it was derived. Any number calculated from sample data, describes a sample characteristic.
standardized normal distribution
a normal distibution or random variable having a mean and standard deviation of 0 and 1, respectively. It is denoted by the symbol Z and is also called the Z distribution.
standard(measurement)
a reference item providing a known value of a quantity to be measured. Standards may be primary--i.e., the standard essentially defines the unit of measure--or secondary(transfer) standard, which have been compared to the primary standard(directly or by way of an intermediate transfer standard). Standards are used to calibrate instruments which are then employed to make routine measurements.
Standard Order
Design of experiment (DOE) treatments often are presented in a standard order. In a standard order, the first factor alternates between the low and high setting for each treatment. The second factor alternates between low and high settings every two treat
Standard Deviation
The Standard Deviation is the square root of (the sum of the squared deviations from the mean, divided by the sample size minus one).
In formulae it is often represented by the letters SD or the symbol (Greek letter) sigma.
Although it is closely related to, and used in calculations for, the Sigma level of a process you need to be careful to distinguish the two meanings.
In formulae it is often represented by the letters SD or the symbol (Greek letter) sigma.
Although it is closely related to, and used in calculations for, the Sigma level of a process you need to be careful to distinguish the two meanings.
Stakeholder
People who will be affected by the project or can influence it but who are not directly involved with doing the project work. Examples are Managers affected by the project, Process Owners, People who work with the process under study, Internal departments that support the process, customers, suppliers, and financial department.
Stable Process
A process that does not contain any special cause variation -- it only contains common cause variation. Common cause variation is that which is normal to the process and doesn't change over time.
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