2. Strategic evaluation and control is determining the effectiveness
of a given strategy in achieving the established objectives and
then developing a plan to take corrective action to improve the
probability of attaining the objectives.
It consists of a normally permanent system of monitoring,
supervision, and follow-up with activities such as: reviewing
internal and external factors (competition, industry trends,
economy) that were the bases for the current strategies and
measuring performance against the objectives, and then
developing actions to alter the current trajectory to one more
appropriate for the new circumstances.
INTRODUCTION
7. Strategic evaluation can help to assess whether the
decisions match the intended strategy requirements.
Strategic evaluation, through its process of control,
feedback, rewards, and review, helps in a successful
culmination of the strategic management process.
The process of strategic evaluation provides a
considerable amount of information and experience to
strategists that can be useful in new strategic
planning.
IMPORTANCE OF STRATEGIC EVALUATION
9. PARTICIPANTS IN STRATEGIC
EVALUATION
Shareholders
Board of Directors
Chief executives
Profit-centre heads
Financial controllers
Company secretaries
External and Internal Auditors
Audit and Executive Committees
Corporate Planning Staff or Department
Middle-level managers
10. STRATEGIC CONTROL
Strategic controls take into account the changing assumptions that
determine a strategy, continually evaluate the strategy as it is being
implemented, and take the necessary steps to adjust the strategy to the
new requirements.
"Strategic control focuses on the dual questions of whether:-
• The strategy is being implemented as planned
• The results produced by the strategy are those intended.
11. TYPES OF STRATEGIC CONTROL
1)PREMISE CONTROL
2) IMPLEMENTATION CONTROL
3) STRATEGIC SURVEILLANCE
4) SPECIAL ALERT CONTROL
12. IMPORTANCE OF STRATEGY CONTROL
Strategic control can help measure organizational progress. As a
strategy is chosen or implemented, an outcome is determined
based on the likeliness. In strategic management, it’s important
to measure results during and after implementation. This allows
timely corrective actions as well.
Since strategic management is continuous, it helps in recycling
actions that are essential for achieving the objectives of an
organization. This acts as inputs for making adjustments and
implementing them in other future processes.
A reward system based on performance that recognizes employees
throughout the implementation period is crucial for performance,
desired outcome and talent retention.