Strategic planning and strategic control go hand in hand.
Top-level strategy sets and/or determines objectives through the organization.
Control measures of activities and results are translated up the organizational pyramid.
Figure 17.2: The Performance Pyramid for Strategic Control Source: C. J. McNair, Richard L. Lynch, and Kelvin F. Cross, "Do Financial and Nonfinancial Performance Measures Have to Agree?" MANAGEMENT ACCOUNTING published by the Institute of Management Accountants, Montvale, NJ, 72 (November l990): 30. Copyright by Institute of Management Accountants. Reprinted by permission.
A low-probability, high-impact event that threatens the viability of the organization and is characterized by ambiguity of cause, effect, and means of resolution, as well as by the belief that decisions must be made swiftly