What is Strategy in SAP EPM-SM - Strategy Management?

SAP Term: Strategy

• Component: EPM-SM

• Component Name: Strategy Management

• Description: The way an organization seeks to achieve its vision and mission. Strategy is a forward-looking statement about an organization's planned use of resources and the deployment capabilities. Strategy becomes real when it is associated with a concrete set of goals and objectives, and with a method involving people, resources and processes.

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• Key Concepts: 
  EPM-SM Strategy Management is a component of SAP software that helps organizations develop and implement strategies. It provides a comprehensive set of tools to help organizations define their strategies, track progress, and measure success. It also enables organizations to collaborate on strategy development and implementation. 
  
  How to use it: 
  EPM-SM Strategy Management can be used to create a strategy map, which is a visual representation of an organization's strategy. This map can be used to identify key objectives, set goals, and track progress. It also provides tools for analyzing data and measuring performance. Additionally, it allows users to collaborate on strategy development and implementation by sharing documents, tasks, and ideas. 
  
  Tips & Tricks: 
  When using EPM-SM Strategy Management, it is important to ensure that the strategy map is up-to-date and accurate. Additionally, it is important to ensure that all stakeholders are involved in the strategy development process. Finally, it is important to regularly review the strategy map to ensure that it is still relevant and effective. 
  
  Related Information: 
  For more information about EPM-SM Strategy Management, please visit the SAP website at https://www.sap.com/products/strategy-management.html. Additionally, there are many resources available online that provide tips and tricks for using EPM-SM Strategy Management effectively.