The Evaluation and Control Process
The Evaluation and Control Process
Strategic Management and Planning
Michael Donovan
Final Exam
Eric G. Tankard
Potomac College
April 22, 2011
Abstract
“Strategic management is the professional discipline related to the development of strategic goals and plans to achieve these goals. Performance is an important part of strategic management because it allows managers to see if plans are being successfully implemented. There are four key types of performance measures that should be included in any strategic management plan.”
This paper will seek to focus on the four key types of performance measures that comprise the strategic management plan model. The paper will try to make application of the four performance measures as they relate to this writer’s workplace both in reality and in theory.
Finally, the paper will conclude with a few examples of how the application of critical thought and knowledge acquisition, effective communication, and ethical reasoning were achieved in this course; as well as some examples of what might have been added to further help achieve these outcomes.
Introduction
“The final stage in strategic management is strategy evaluation and control. All strategies are subject to future modification because internal and external factors are constantly changing. In the strategy evaluation and control process managers determine whether the chosen strategy is achieving the organization's objectives. The fundamental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.”
“Strategic management is the professional discipline related to the development of strategic goals and plans to achieve these goals. Performance is an important part of strategic management because it allows managers to see if plans are being successfully implemented. There are four key
Strategic Management and Planning
Michael Donovan
Final Exam
Eric G. Tankard
Potomac College
April 22, 2011
Abstract
“Strategic management is the professional discipline related to the development of strategic goals and plans to achieve these goals. Performance is an important part of strategic management because it allows managers to see if plans are being successfully implemented. There are four key types of performance measures that should be included in any strategic management plan.”
This paper will seek to focus on the four key types of performance measures that comprise the strategic management plan model. The paper will try to make application of the four performance measures as they relate to this writer’s workplace both in reality and in theory.
Finally, the paper will conclude with a few examples of how the application of critical thought and knowledge acquisition, effective communication, and ethical reasoning were achieved in this course; as well as some examples of what might have been added to further help achieve these outcomes.
Introduction
“The final stage in strategic management is strategy evaluation and control. All strategies are subject to future modification because internal and external factors are constantly changing. In the strategy evaluation and control process managers determine whether the chosen strategy is achieving the organization's objectives. The fundamental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.”
“Strategic management is the professional discipline related to the development of strategic goals and plans to achieve these goals. Performance is an important part of strategic management because it allows managers to see if plans are being successfully implemented. There are four key
References: Barnat, Ryszard LLM. DBA, Ph.D. April, 2011. Strategy evaluation and control Retrieved from the World Wide Web on April 22, 2011 at: http://www.introduction-to-management.24xls.com/en224 Heathfield, Susan M. April, 2011. Why organizations do employee performance evaluations: Goals of employee performance evaluations Ittner, C & Larcker, D. December 6, 2000. Non financial performance measures: what works and what doesn’t. Retrieved from the World Wide Web on April 22, 2011 at: http://knowledge.wharton.upenn.edu/article.cfm?articleid=279 Simons, Robert L. February 1, 2000 Keeping track: performance measurement, control & strategy. Retrieved from the World Wide Web on April 21, 2011 at: http://hbswk.hbs.edu/item/1273.html Van de Graaff, Mathis Retrieved from the World Wide Web on April 22, 2011 at: http://www.ehow.com/info_7953285_strategic-management-performance.html Wheelen, T.L., Hunger, J.D