Strategic control involves guiding organizational strategy as it is implemented and making adjustments if needed. It focuses on achieving future goals rather than past performance. There are several types of strategic control, including premise control, which checks if the assumptions a strategy is based on are still valid, and implementation control, which assesses if the strategy should change based on incremental actions. Strategic control techniques involve environmental scanning, reviews, and analyzing factors like premises, milestones, and issues that could impact the strategy. The process of strategic control determines what to monitor, sets standards, measures performance, compares performance to standards, identifies deviations, and takes corrective actions.
This Module covers Definition,Relevance , Characteristics , Level, Approach of Strategic Management along with Strategic Management Model, Strategist and Pitfall in Strategic Management
This Module covers Definition,Relevance , Characteristics , Level, Approach of Strategic Management along with Strategic Management Model, Strategist and Pitfall in Strategic Management
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
This presentation covers one of the process of Strategic Management; Strategic Implementation. There are 2 sub divisions; Functional Implementation and Structural Implementation. This section deals with Structural Implementation in detail.
this presentation is on Strategic management.
It covers following topics in detail -
Introduction of strategic management
Definition of strategic management
Mintzberg’s Views of Strategy
Features of strategic management
Role of strategic management
Process of strategic management
Need of Strategic management
Benefits of Strategic management
Limitations of strategic management
Mission & Vision
This presentation covers one of the process of Strategic Management; Strategic Implementation. There are 2 sub divisions; Functional Implementation and Structural Implementation. This section deals with Structural Implementation in detail.
Strategic evaluation and control is one of the last processes to carryout Strategic management hence its necessary to engage in detail the processes of Strategic Management
STRATEGY FORMULATION, IMPLEMENTATION, EVALUATION & CONTROL:
Strategy formulation includes planning & decision-making and developing plans to achieve organizational goals & objectives.
It is an entrepreneurial activity based on strategic decision making to reach at vision.
It demands co-ordination of personnel of each and every level of organizational hierarchy.
It requires strong analytical and conceptual skill.
Choice of strategy involves understanding and choosing the best formulated strategy across different strategic alternatives.
Its first step is SWOT analysis.
Management needs to seek to identify & evaluate alternative courses of action to ensure that the business reaches the objectives they have set.
It is a creative process of generating alternatives, building on the strengths of the business & allowing it to tackle new products or markets to improve its competitive position.
STEPS IN STRATEGIC CHOICE
Strategy formulation
Focusing on strategic alternatives
Evaluating strategic alternatives
Considering decision factors
Choice of strategy.
Strategy implementation involves all those means related to executing the strategic plans.
It is mainly a administrative task based on strategic & operational decisions.
It is an operational process which requires co-ordination among all employees.
It requires specific leadership & motivational traits
Evaluation of strategy is as significant as strategy formulation because it throws light on the efficiency & effectiveness of comprehensive plans in achieving the desired results.
The managers can also assess the appropriateness of the current strategy in today’s dynamic world which is influenced by PEST (Political, Economic, Social & Technological )
It is very significant because of various factors such as: developing inputs for new strategic planning, the urge for feedback, appraisal & reward, development of strategic management process, judging the validity of strategic choice etc.
PROCESS/ STEPS OF STRATEGIC EVALUATION
Setting standard performance or expected performance or benchmarking performance.
Measure the actual performance.
Analyzing the variance by comparing standard and actual performance.
Taking corrective action to achieve the target
Unit 5 CSM: Strategic Evaluation and ComtrolDayanand Huded
The chapter comprises of Overview of Strategic Evaluation; Strategic Control; Techniques of Strategic Evaluation and Control. Evaluation of Strategic Alternatives - Product Portfolio Models, BCG Matrix, GE Matrix, Gap Analysis; Strategic Control System.
Strategic evaluation and control is the final phase in the process of strategic management. Its basic purpose is to ensure that the strategy is achieving the goals and objectives set for the strategy. It compares performance with the desired results and provides the feedback necessary for management to take corrective action.
According to Fred R. David, strategy evaluation includes three basic activities
(1) examining the underlying bases of a firm’s strategy,
(2) comparing expected results with actual results, and
(3) taking corrective action to ensure that performance conforms to plans. Sometime, the best formulated strategies become obsolete (outdated) as a firm’s external and internal environments change.
Strategic control is a type of “steering control”. We have to track the strategy as it is being implemented, detect any problems or changes in the predictions made, and make necessary adjustments. This is especially important because the implementation process itself takes a long time before we can achieve the results.
Strategic control is like an alarm long before the calamity can happen.
Operational control is the process of ensuring that specific tasks are carried out effectively and efficiently. The operational control aims at evaluating the performance of the organization. Most of the control system in organization are operational in nature. Some examples of operational control are : Budgetary control, Quality control, Inventory control, Production Control, Cost control etc.
Portfolio Model is a technique used to analyse organisations in relation to their environments
Portfolio (set, collection, assortment, range, group)
A business Portfolio may be any collection of brands/products, markets, branches /divisions, income generating assets, etc.
PA is usually applied to firms with multiple SBUs (more than one product/services, customer categories, markets , divisions)
Helps managers in taking decisions regarding which SBUs to allocate more or less resources to at a given strategic point in time
After portfolio analysis firm makes an informed strategic choice e.g.
To have a balanced portfolio (minimize risk and maximize return) of all portfolios
To actively deploy a retrenchment strategy
Teaching is a complex process requiring various methods and techniques in order to achieve its objectives Strategies can be referred to as steps taken to achieve goals. So, in order to achieve teaching goals and objectives various teaching methods and strategies are employed such as lecture method, tutorial method etc.
Tuberculosis (TB) is an infectious disease usually caused by Mycobacterium tuberculosis (MTB) bacteria. Tuberculosis generally affects the lungs, but can also affect other parts of the body. Most infections show no symptoms, in which case it is known as latent tuberculosis.
TB is spread from person to person through the air. When people with lung TB cough, sneeze or spit, they propel the TB germs into the air. A person needs to inhale only a few of these germs to become infected.
Acid rain or acid deposition is any kind of precipitation with unusually high acidic components such as sulfuric or nitric acid that fall in the ground from the atmosphere in wet or dry forms.This can include rain, snow, fog, hail or even dust that is acidic.
Business Cycle is part and parcel of any economic system. Any business or economy goes through a periodic cycle of highs and lows depending on the various endogenous or exogenous variables over a period of time which is inevitable and uncertain.
Impact of climatic change on agricultureShashi Singh
Climate change and agriculture are interrelated processes, both of which take place on a global scale. Climate change affects agriculture in a number of ways, including through changes in average temperatures, rainfall, and climate extremes (e.g., heat waves); changes in pests and diseases; changes in atmospheric carbon dioxide and ground-level ozone concentrations; changes in the nutritional quality of some foods; and changes in sea level.
The main premise of economic problem is that human needs and wants are unlimited but resources are limited in nature. Thus, scarcity of resources which means that in order to produce one good, you have to sacrifice other good.
Financial institutions plays a very important role in an economy. There is a positive relationship between financial institution and economic development. Developing countries need to increase the availability of financial institution and financial services to its people.
In a world of globalization and competition, people are finding themselves in a state of stress which is damaging their healthy lifestyles. So, in order to get rid of stress we need to focus on stress management.
Today it is very difficult to survive in the competitive world where people are struggling hard to achieve their desired goals. So, in order to get what you want then you have to learn about personality development. It is tool through which one can lead a successful life. It is about grooming your overall personality which will lead you to the path of success.
Policy Issue in Technology and Future ProspectsShashi Singh
The role played by technology is inevitable. It has revolutionised the whole world. In India, more than half of the expenditure on R&D is incurred by government. So, government policy of S&T plays a vital role in development of Science and Technology.
Recently, IMF said that India will grew at 7.5% overtaking China as the fastest growing economy in 2015-16 due to recent policy initiatives made by government of India.But the prospects could change depending on the implementation of the reforms of the new Modi government.
Indus Valley civilization also know as harappan civilization was one of the oldest urban civilization of the world, which flourished in the fertile plains of Indus river and its tributaries.
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1. PRESENTED BY :- SHASHI PRATAP SINGH
B.A- ECONOMICS (HONORS)
STRATEGIC CONTROL
2. WHAT IS STRATEGIC CONTROL?
Strategic control is a term used to describe the process used by organizations to control the
formation and execution of strategic plans.
Strategic control is also focused on the achievement of future goals, rather than the evaluation
of past performance.
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.
Strategic control is concerned with guiding action on behalf of the strategy as that
action is taking place and when the end result is still several years off.
3. Basic question- “Are we moving in the right direction?”
Aim- Proactive, continuous questioning of the basic direction of strategy.
Main concern- Steering the organization’s future direction.
Focus- External Environment
Time Horizon- Long-term
Exercise of Control- Exclusively by top management, may be through lower-level support.
Main techniques- Environmental scanning, information gathering, questioning and reviews.
4. STRATEGIC CONTROL PROCESS
Determine
what to
control
Set control
standards
Measure
performance
Compare the
performance
with the
standards
set
Determine
the reasons
for the
deviations
Take
corrective
action
5. TYPES OF STRATEGIC CONTROL
Premise Control
Special Alert
Control
Implementation
Control
Strategic
Surveillance
6. PREMISE CONTROL
Every strategy is based on certain planning premises or predictions.
Premise control is designed to check methodically and continuously whether the
premises on which a strategy is grounded on are still valid.
If a vital premise is no longer valid, the strategy may have to be changed.
The sooner you recognize and reject an invalid premise, the better are the
chances that an acceptable shift in the strategy can be adjusted to reflect the
reality.
7. IMPLEMENTATION CONTROL
Implementation control is designed to assess whether the overall strategy should be
changed in light of the results associated with the incremental actions that
implement the overall strategy.
Implementation control is the type of strategic control that must be carried out as
events unfold.
There are two types of implementation controls.
Strategic thrusts- It provide you with information that helps you determine
whether the overall strategy is shaping up as planned.
Milestone reviews- It monitor the progress of the strategy at various intervals or
milestones.
8. STRATEGIC SURVEILLANCE
Strategic surveillance is designed to monitor a broad range of events inside and
outside the firm that are likely to affect the course of its strategy.
It's based on the idea that you can uncover important yet unanticipated
information by monitoring multiple information sources. Such sources include
trade magazines, journals, trade conferences, conversations and observations
etc.
Strategic surveillance provides an ongoing broad-based vigilance in all daily
operations that may uncover information relevant to the firm‘s strategy.
9. SPECIAL ALERT CONTROL
A special alert control is the thorough, and often rapid, reconsiderations of the
firm's strategy because of the occurrence of sudden, immediate or unexpected
event
An example of such event is the acquisition of your competitor by an outsider
Such an event will trigger an immediate and intense reassessment of the firm's
strategy. Form crisis teams to handle your company's initial response to the
unforeseen events
10. TECHNIQUES OF STRATEGIC CONTROL
Strategic momentum control
1. Responsibility control centers
2. Underlying success factors
3. Generic strategies
Strategic leap control
1. Strategic issue management
2. Strategic field analysis
3. System’s modelling
4. Scenarios
11. STRATEGIC MOMENTUM CONTROL
It aimed at assuring whether the assumption on which strategies were formulated are still
valid and,
what needs to be done in order to allow the organization to maintain its existing strategic
momentum.
For achieving these aims there are three techniques which could be used-
1. Responsibility control centers
2. The underlying success factors
3. Generic strategies
12. Responsibility control centers
It form the core of management control systems
They are of 4 types of centers:-
1. Revenue
2. Expense
3. Profit
4. Investment
Underlying success factors
• It enable organizations to focus on the critical success factors i.e., to examine the factors that
contribute to the success of strategies.
• By managing on the basis of the critical success factors, the strategists can continually evaluate
the strategies to assess whether or not these are holding the organization to achieve its
objectives.
Generic strategies
• It is based on the assumption that the strategies adopted by firms similar to another firm are
comparable.
• A firm can then study why and how other firms are implementing particular strategies and
assess whether or not its own strategy is following a similar path.
13. STRATEGIC LEAP CONTROL
It can assist an organization by helping to define the new strategic requirements
and to cope with emerging environment realities.
There are 4 techniques of evaluation used for exercising strategic leap control:-
1. Strategic issue management
2. Strategic field analysis
3. System’s modelling
4. Scenarios
14. Strategic issue management
• It is aimed at identifying one or more strategic issues and assessing their impact on the
organization.
• By managing on the basis of strategic issues, the strategists can avoid being overtaken by
surprising environmental changes and design contingency plans to shift strategies whenever
required.
Strategic field analysis
• It’s a way of examining the nature and extent of synergies that exists or are lacking between the
components of an organization.
System’s modelling
• It is based on computer-based models that stimulate the essential features of the organization
and its environment.
• Through system’s modelling, organizations may exercise pre-action control by assessing the
impact of the environment on the organization through the adoption of a particular strategy.
Scenarios
• These are perceptions about the likely environment a firm could face in the future.