The document discusses strategic evaluation and control. It defines strategic evaluation as determining the effectiveness of a strategy in achieving objectives and making corrections. Strategic evaluation is the final step of the strategic management process. It involves assessing internal/external factors, measuring performance, and taking corrective actions. The purpose of strategic evaluation and control is to test strategy effectiveness and ensure the organization stays on track to meet its objectives. Key participants in strategic evaluation include executives, managers, auditors, and planning staff. Common techniques used include gap analysis, SWOT analysis, PEST analysis and benchmarking.
An organization needs to make a strategic plan so that it can achieve its objectives and goals. These strategic plan are needed to be control when there is a sudden or unexpected change in external environment. Strategic control is one such tool used by businesses to make sure that their plan is being as planned.
An organization needs to make a strategic plan so that it can achieve its objectives and goals. These strategic plan are needed to be control when there is a sudden or unexpected change in external environment. Strategic control is one such tool used by businesses to make sure that their plan is being as planned.
Strategic control - strategic implementation - Manu Melwin Joymanumelwin
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. The most important purpose of strategic control is to help top achieve organizational goals through monitoring and evaluating the strategic management process.
This paper discusses strategy evaluation, review and redesign or the point at which the cycle of strategic management process end and restarts. The complex and contingency nature of this process blends an agenda of resource-based, structure-conduct-performance, agency and other theories. The paper takes the middle course theory of organizational structure-conduct-performance for strategy evaluation, review and redesign. Literature survey on the subject reveals emphasis on ways to simplify and understand the multifarious nature of strategic management process as it projects the trio of evaluation, review and redesign as its driving force. The paper explains the seeming similarities, possible uniqueness and relationship of strategy evaluation, review and redesign to show how the trio functions as rear axles of strategic management process. A simulation exercise is provided to facilitate the application of knowledge skills on strategy evaluation, review and redesign by the NIPSS-PSLC Participants
This Presentation gives a brief insight into strategic control and types of strategic control along with real time case studies and examples to help the viewer understand the topic of Strategic Control
Strategic alert control strategic control - strategic implementationmanumelwin
A strategic alert control is the thorough and often rapid consideration of the firm’s strategy because of a sudden unexpected event. Examples of such events can be the sudden fall of the government, a natural calamity etc. In the face of such unexpected events, the firm should respond immediately, and releases it strategies quickly.
Premise control - strategic control - strategic implementationmanumelwin
Premise control is designed to check systematically and continuously whether the premises on which the strategy is based are still valid. If an important premise is no longer valid, the strategy may have to be changed.
Strategic surveillance strategic control - strategic implementationmanumelwin
Strategic surveillance aims at a more generalized overreaching control designed to monitor “ a broad range of events inside and outside the company that are likely to threaten the course of firm’s strategy”. It is done generally through a general kind of monitoring based on selected information sources to uncover events that are likely to affect the strategy of an organization.
Implementation control - strategic control - strategic implementationmanumelwin
Implementation control is aimed at assessing whether the plans, progammes and policies are actually guiding the organization towards its predetermined objectives or not. If the resources that are committed to a project at any point of time would not benefit an organization as envisaged, corrective steps should be undertaken immediately.
Strategic control - strategic implementation - Manu Melwin Joymanumelwin
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. The most important purpose of strategic control is to help top achieve organizational goals through monitoring and evaluating the strategic management process.
This paper discusses strategy evaluation, review and redesign or the point at which the cycle of strategic management process end and restarts. The complex and contingency nature of this process blends an agenda of resource-based, structure-conduct-performance, agency and other theories. The paper takes the middle course theory of organizational structure-conduct-performance for strategy evaluation, review and redesign. Literature survey on the subject reveals emphasis on ways to simplify and understand the multifarious nature of strategic management process as it projects the trio of evaluation, review and redesign as its driving force. The paper explains the seeming similarities, possible uniqueness and relationship of strategy evaluation, review and redesign to show how the trio functions as rear axles of strategic management process. A simulation exercise is provided to facilitate the application of knowledge skills on strategy evaluation, review and redesign by the NIPSS-PSLC Participants
This Presentation gives a brief insight into strategic control and types of strategic control along with real time case studies and examples to help the viewer understand the topic of Strategic Control
Strategic alert control strategic control - strategic implementationmanumelwin
A strategic alert control is the thorough and often rapid consideration of the firm’s strategy because of a sudden unexpected event. Examples of such events can be the sudden fall of the government, a natural calamity etc. In the face of such unexpected events, the firm should respond immediately, and releases it strategies quickly.
Premise control - strategic control - strategic implementationmanumelwin
Premise control is designed to check systematically and continuously whether the premises on which the strategy is based are still valid. If an important premise is no longer valid, the strategy may have to be changed.
Strategic surveillance strategic control - strategic implementationmanumelwin
Strategic surveillance aims at a more generalized overreaching control designed to monitor “ a broad range of events inside and outside the company that are likely to threaten the course of firm’s strategy”. It is done generally through a general kind of monitoring based on selected information sources to uncover events that are likely to affect the strategy of an organization.
Implementation control - strategic control - strategic implementationmanumelwin
Implementation control is aimed at assessing whether the plans, progammes and policies are actually guiding the organization towards its predetermined objectives or not. If the resources that are committed to a project at any point of time would not benefit an organization as envisaged, corrective steps should be undertaken immediately.
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Rebooting Operational Excellence in Automotive Paint Shops Using AnalyticsAnita Raj
Paint application is touted to be one of the most complex and demanding activities. Any defects in the painting process can result in poor customer experience and impact the company brand. DataRPM shares ideas on how automakers can improve their output quality, reduce defects and improve the operational efficiencies by applying analytics in the right way across the paint shop.
Strategic Management Process is defined as the way an organization defines its strategy. It is a continuous process in which the organization decides to implement a selected few strategies, details the implementation plan and keeps on appraising the progress and success of implementation through regular assessment.
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
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
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
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Impact of Ethnobotany in traditional medicine,
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Role of Ethnopharmacology in drug evaluation,
Reverse Pharmacology.
We all have good and bad thoughts from time to time and situation to situation. We are bombarded daily with spiraling thoughts(both negative and positive) creating all-consuming feel , making us difficult to manage with associated suffering. Good thoughts are like our Mob Signal (Positive thought) amidst noise(negative thought) in the atmosphere. Negative thoughts like noise outweigh positive thoughts. These thoughts often create unwanted confusion, trouble, stress and frustration in our mind as well as chaos in our physical world. Negative thoughts are also known as “distorted thinking”.
How to Create Map Views in the Odoo 17 ERPCeline George
The map views are useful for providing a geographical representation of data. They allow users to visualize and analyze the data in a more intuitive manner.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
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2. Strategic Management Process
Strategic Evaluation is defined as the process of determining the
effectiveness of a given strategy in achieving the organizational
objectives and taking corrective action wherever required.
Strategy evaluation is the final step of strategy management process.
The key strategy evaluation activities are: appraising internal and
external factors that are the root of present strategies, measuring
performance, and taking remedial / corrective actions. Evaluation
makes sure that the organizational strategy as well as it’s
implementation meets the organizational objectives.
3. Nature of Strategic Evaluation
Nature of the strategic evaluation and control process is to test the
effectiveness of strategy.
During the strategic management process, the strategists formulate the
strategy to achieve a set of objectives and then implement the
strategy.
There has to be a way of finding out whether the strategy being
implemented will guide the organisation towards its intended
objectives. Strategic evaluation and control, therefore, performs the
crucial task of keeping the organisation on the right track.
In the absence of such a mechanism, there would be no means for
strategists to find out whether or not the strategy is producing the
desired effect.
4. Through the process of strategic evaluation and control,
the strategists attempt to answer set of questions, as
below.
Are the premises made during strategy formulation proving
to be correct?
Is the strategy guiding the organization towards its intended
objectives?
Are the organization and its managers doing things which
ought to be done?
Is there a need to change and reformulate the strategy?
How is the organization performing?
Are the time schedules being adhered to?
Are the resources being utilized properly?
What needs to be done to ensure that resources are utilized
properly and objectives met?
5. Importance of Strategic Evaluation
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.
6. 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
7. Process of Strategic Evaluation
1) Fixing benchmark of performance
While fixing the benchmark, strategists encounter questions
such as - what benchmarks to set, how to set them and how to
express them.
In order to determine the benchmark performance to be set, it
is essential to discover the special requirements for performing
the main task.
The organization can use both quantitative and qualitative
criteria for comprehensive assessment of performance.
Quantitative criteria includes determination of net profit, ROI,
earning per share, cost of production, rate of employee turnover
etc. Among the Qualitative factors are subjective evaluation of
factors such as - skills and competencies, risk taking potential,
flexibility etc.
8. 2) Measurement of performance
The standard performance is a bench mark with which the actual performance is to be
compared.
The reporting and communication system help in measuring the performance.
For measuring the performance, financial statements like - balance sheet, profit and loss
account must be prepared on an annual basis.
3) Analyzing Variance
While measuring the actual performance and comparing it with standard performance
there may be variances which must be analyzed.
The strategists must mention the degree of tolerance limits between which the variance
between actual and standard performance may be accepted.
4)Taking Corrective Action
Once the deviation in performance is identified, it is essential to plan for a corrective
action.
If the performance is consistently less than the desired performance, the strategists must
carry a detailed analysis of the factors responsible for such performance.
9. Techniques of Strategic Evaluation
1 GAP Analysis
2 SWOT Analysis
3 PEST Analysis
4 Benchmarking
10. Types of Strategic Control
The types of strategic controls are:
Premise control
Implementation control
Strategic surveillance
Special alert control
11. 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.
Most commentators would agree with the definition of
strategic control offered by Schendel and Hofer:
"Strategic control focuses on the dual questions
of whether: (1) the strategy is being implemented
as planned; and (2) the results produced by the
strategy are those intended.“
12. 1)Premise Control
Every strategy is based on certain planning premises or
predictions.
Premise control has been designed to check systematically and
continuously whether or not the premises set during the
planning and implementation process are still valid.
It involves the checking of environmental conditions. Premises
are primarily concerned with two types of factors:
a. Environmental factors (for example, inflation, technology,
interest rates, regulation, and demographic/social changes).
b. Industry factors (for example, competitors, suppliers,
substitutes, and barriers to entry)
13. 2) Implementation Control
Implementing a strategy takes place as a series of steps, activities,
investments and acts that occur over a lengthy period.
The two basis types of implementation control are:
a. Monitoring strategic thrusts (new or key strategic programs): Two
approaches are useful in enacting implementation controls focused on
monitoring strategic thrusts: (1) one way is to agree early in the planning
process on which thrusts are critical factors in the success of the strategy or
of that thrust; (2) the second approach is to use stop/go assessments
linked to a series of meaningful thresholds (time, costs, research and
development, success, etc.) associated with particular thrusts.
b. Milestone Reviews: Milestones are significant points in the
development of a programme, such as points where large commitments of
resources must be made. A milestone review usually involves a full-scale
reassessment of the strategy and the advisability of continuing or
refocusing the direction of the company.
14. 3) Strategic Surveillance
Strategic surveillance is designed to monitor a broad range of
events inside and outside the company that are likely to
threaten the course of the firm's strategy.
The basic idea behind strategic surveillance is that some form of
general monitoring of multiple information sources should be
encouraged, with the specific intent being the opportunity to
uncover important yet unanticipated information.
Strategic surveillance appears to be similar in some way to
"environmental scanning." Strategic surveillance is designed to
safeguard the established strategy on a continuous basis.
15. 4) Special Alert Control
Another type of strategic control is a special alert control.
"A special alert control is the need to thoroughly, and often
rapidly, reconsider the firm's basis strategy based on a sudden,
unexpected event."
The analysts of recent corporate history are full of such
potentially high impact surprises (i.e., natural disasters,
chemical spills, plane crashes, product defects, hostile takeovers
etc.).
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.
16. The fact that hot water freezes faster than cold water
still remains a mystery…