Observation, Orientation, Decision and Action is the thinking and decision-making process for Warfare and business as well.
We, I & Company developed the OODA model for business. This model can run on the next generation strategy.
It is not the right explanation that we are cycling through OODA loops.
When you use the Situations Actions Framework, you can identify the situation where OODA is effective to be applied.
Please see more detail at the Situation Actions Framework.
You can use PDCA cycle to supplement with OODA loop.
You can see more detail at the OODA and PDCA.
It is insightful discussion that we compare PDCA against OODA.
You can see more detail at the PDCA vs OODA.