Discuss in scholarly detail why budgets, schedules, and key success factors are essential to operations control and evaluation? Solution Strategies are forward looking, designed to be accomplished several years into the future, and based on management assumptions about numerous events that have not yet occurred.Strategic control is concerned with tracking a strategy as it is being implemented, detecting problems or changes in its underlying premises, and making necessary adjustments. Incontrast to postaction control, strategic control is concerned with guiding action in behalf of the strategy as that action is taking place and when the end result is still several years off.Operational control systems require systematic evaluation of performance against predetermined standards or targets. Also, a central goal with any strategy is the survival,growth, and improved competitive position of the company in the future. Breakthroughinnovation involves far more risk than the incremental approach yet brings high reward whensuccessful. Entrepreneurship is central to making businesses innovative and fresh.Intrapreneurship is entrepreneurship in large organizations. Many firms now claim they seek to encourage intrapreneurship. For it to work, individual intrapreneurs need freedom andsupport to pursue perceived opportunities, be allowed to fail, and do more of the same moreeasily if they succeed. Learning Objectives Describe and illustrate four types of strategic control .2.Summarize the balanced scorecard approach and how it integrates strategic andoperational control. 3.Summarize the difference between incremental and breakthrough innovation. 4.Explain what is meant by continuous improvement and how it contributes to incrementalinnovation. 5.Summarize the risks associated with an incremental versus a breakthrough approach toinnovation .6.Describe the three key elements of the entrepreneurship process. 7.Explain intrapreneurship and how to enable it to thrive. Lecture Outline I0IntroductionA0.Strategies are forward looking, designed to be accomplished several years into thefuture, and based on management assumptions about numerous events that have notyet occurred. How should managers control a strategy?B0. Strategic control is concerned with tracking a strategy as it is being implemented,detecting problems or changes in its underlying premises, and making necessary adjustments. .

1. Discuss in scholarly detail why budgets, schedules, and key success factors are essential to
operations control and evaluation?
Solution
Strategies are forward looking, designed to be accomplished several years into the future, and
based on management assumptions about numerous events that have not yet occurred.Strategic
control is concerned with tracking a strategy as it is being implemented, detecting problems or
changes in its underlying premises, and making necessary adjustments. Incontrast to postaction
control, strategic control is concerned with guiding action in behalf of the strategy as that action
is taking place and when the end result is still several years off.Operational control systems
require systematic evaluation of performance against predetermined standards or targets. Also, a
central goal with any strategy is the survival,growth, and improved competitive position of the
company in the future. Breakthroughinnovation involves far more risk than the incremental
approach yet brings high reward whensuccessful. Entrepreneurship is central to making
businesses innovative and fresh.Intrapreneurship is entrepreneurship in large organizations.
Many firms now claim they seek to encourage intrapreneurship. For it to work, individual
intrapreneurs need freedom andsupport to pursue perceived opportunities, be allowed to fail, and
do more of the same moreeasily if they succeed.
Learning Objectives
Describe and illustrate four types of strategic control
.2.Summarize the balanced scorecard approach and how it integrates strategic andoperational
control.
3.Summarize the difference between incremental and breakthrough innovation.
4.Explain what is meant by continuous improvement and how it contributes to
incrementalinnovation.
5.Summarize the risks associated with an incremental versus a breakthrough approach
toinnovation
.6.Describe the three key elements of the entrepreneurship process.

2. 7.Explain intrapreneurship and how to enable it to thrive.
Lecture Outline
I0IntroductionA0.Strategies are forward looking, designed to be accomplished several years into
thefuture, and based on management assumptions about numerous events that have notyet
occurred. How should managers control a strategy?B0.
Strategic control
is concerned with tracking a strategy as it is being implemented,detecting problems or changes in
its underlying premises, and making necessary adjustments.