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Stratagic evolution & control

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Stratagic evolution & control

  1. 1. Presented By: G.S.V.S.Surya Teja, 12NA1E0007, MBA{3rd Semester}. STRATEGIC MANAGMENT STRATEGIC EVALUATION & CONTROL
  2. 2. This unit deals with the last phase of strategic management . The formulation of strategy lays down the strategic intent and the strategy required to achieve them . The end result is adjustment of strategies reformulation of objectives or adoption of plans
  3. 3. Strategic evaluation and control is the process of determining the effectiveness of a given strategy in achieving the organizational objectives and taking corrective action wherever required
  4. 4. ‘Evaluation of strategy is that phase of the strategic management process in which the top managers determine whether their strategic choice as implemented is meeting the objectives of the enterprise.’ -GLUECK &JAUCH
  5. 5. Evaluation and control likely to be successful if the prevailing hierarchy of systems manifest the following basic characteristics :  Control to report deviation framework  Control to attain planned objectives & implemented strategies  Control that is understandable  Human aspects of control  Strategic point control  Control to fit the organizations  Control for the corrective action  Flexible control  Cost effective control  Control for objective
  6. 6. The participants in the strategic evaluation are mentioned as follows • Shareholders • Board of directors • Chief executives • The managers • Financial controllers , company secretaries and auditors • Audit & executive commitees
  7. 7. Five major types of barriers can be pointed out :  Limits of control  Difficulties in measurement  Resistance to evaluation  Short – term implications  Relying on efficiency versus effectiveness
  8. 8.  Control should involve only the minimum amount of information as too much information tends to clutter up the control system and creates confusion  Controls should be timely so that corrective action can be taken quickly  Controls should aim at pinpointing exception as nitpicking does not result in effective evaluation  Reward of meeting or exceeding standards should be emphasized so that managers are motivatedto perform
  9. 9. Strategic evaluation is to monitor and evaluate progress towards organizations objectives and to guide or correct the process or change the strategic plan to better accord with current condition and purposes .