Strategy Review

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STRATEGY REVIEW, EVALUATION, AND CONTROL OUTLINE | |The Nature of Strategy Evaluation | | |A Strategy-Evaluation Framework | | |Published Sources of Strategy-Evaluation Information | | |Characteristics of an Effective Evaluation System | | |Contingency Planning | | |Auditing…show more content…
advantage 7. These trends make strategy evaluation difficult: a. dramatic increase in environmental complexity b. difficult in predicting future c. increasing number of variables d. rapid rate of obsolescence e. increase in the number of world events affecting organization f. decreasing time spans for planning VTN (Visit the Net): www.csuchico.edu/mgmt/strategy/module1/sld046.htm describes the how and why of strategy evaluation. VTN (Visit the Net): www.csuchico.edu/mgmt/strategy/module1/sld047.htm elaborates on “taking corrective actions.” B. The Process of Evaluating Strategies 1. Strategy evaluation is necessary for all sizes and kinds of organizations. a. Strategy evaluation should initiate managerial questioning of expectations and assumptions, trigger a review of objectives and values, and stimulate creativity in generating alternatives and formulating criteria of evaluation. 2. Evaluating strategies on a continuous rather than a periodic basis allows benchmarks of progress to be established and more effectively monitored. 3. Managers and employees of the firm should continually be aware of progress being made toward achieving the firm’s objectives. As critical success factors change, organizational members should be involved in determining appropriate corrective actions. VTN (Visit the Net):
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