Question

The steps involved in strategic planning involve:

a) Determine of the approach will be centralized, federated or decentralized
b) Establish the Data Governance Councils
c) Determine roles and responsibilities
d) Design the asset model

Answer 1

The steps listed are part of the strategic planning process for an organization, including decision-making structure, governance councils, roles and responsibilities, and asset modeling. Effective strategy and coordination are key to this process.

Step-by-step explanation:

The question pertains to the steps involved in strategic planning. The elements listed are part of a wider process that establishments use to define their strategy and direction. A strategic plan is essential for any organization as it lays out the long-term goals and the plan to achieve them.

The steps mentioned include:

1. Determining whether the approach to be taken will be centralized, federated, or decentralized.
2. Establishing the Data Governance Councils, which play a critical role in managing and overseeing the organization’s data assets, policies, and procedures.
3. Determining roles and responsibilities, ensuring that each member of the organization understands what is expected of them.
4. Designing the asset model, which is crucial for understanding the resources at the organization’s disposal and their potential uses in pursuit of its goals.

In summary, a successful strategic plan relies on clear coordination and effective governance structures. It also requires ongoing evaluation and adaptation of the strategy to ensure that it remains aligned with the organization's objectives and the external environment.