Research Paper

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ACKNOWLEDGEMENT

This research paper would not have been possible without the support of many people. The author wishes to express her gratitude to her Lecturer, Prof. Dr. B. Baidya who was abundantly helpful and offered invaluable assistance, support and guidance. Deepest gratitude also due to the members 2012 December Block Release Class of Corporate Planning and Strategy Course (BSAD), without whose knowledge and assistance,this study would not have been successful. Special thanks also to group members; Ireen Makonese , Jonathan Mumbi and James Kaunda for sharing the literature and invaluable assistance. Not forgetting to her best friends who always been there. The author would also like to convey thanks to the Solusi University for providing unperturbed internet facilities .The author wishes to express her love and gratitude to her beloved families; for their understanding & endless love, through the duration of her studies.

TABLE OF CONTENTS
INTRODUCTION………………………………………………………………………………………..3 1.1 Strategic Control……………………………………………………………………………….3 Strategic Evaluation…………………………………………………………………………..3 EVALUATION & CONTROL………………………………………………………………………….4 2.1 Determine what to measure………………………………………………………………………..4 2.2 Establish standards of Performance……………………………………………………5 2.3 Measure Actual Performance……………………………………………………………..5 2.4 Compare Actual Performance with the Standard………………………………..5 2.5 Take Corrective Action………………………………………………………………………5 3.0 OBJECTIVES OF STRATEGY EVALUATION AND CONTROL……………………………..5 4.0 DIFFERENCE BETWEEN EVALUATION AND CONTROL………………………………….6 5.0 MEASURINGPERFORMANCE…………………………………………………..6 5.1 Primary Measures of Performance……………………………………………………7 5.2 Strategic Audit………………………………………………………………………………….7 5.3 Importance of Strategic Audit for corporate planning……………………….8 6.0 ESTABLISHING SPECIFIC STANDARDS OF PERFORMANCE…………………………….9 6.2 Measuring performance……………………………………………………………………9 8.3 Analyzing results………………………………………………………………………………9 8.4 Taking corrective action……………………………………………………………………9 8.6 Problems in Measuring Performance………………………………………………10 7.0 CONCLUSION…………………………………………………………………………………………….11 9.0 RECOMMADATION …………………………………………………………………………………..12 10.0 BIBLIOGRAPHY…………………………………………………………..13

1.0 INTRODUCTION

Strategic Management is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Strategic Management is a continual process for improving organizational performance by developing strategies to produce results. It involves looking at where the agency wants to go, assessing the agency’s current situation, and developing and implementing approaches for moving forward. The process of strategic management involves four basic elements and these are:- Environmental Scanning

Strategy Formulation
Strategy Implementation
Evaluation and Control.
Central to this discussion is the Evaluation and Control of any strategic management process. Strategic control and evaluation, is the final stage in strategic management. In this stage, managers determine whether the strategy is achieving the organization’s objectives or not? The fundamental activities of this stage are reviewing internal and external factors that are the bases for current strategies, measuring performance and taking corrective actions. It is, however, imperative to give definitions to core concepts which will be under discussion in this research paper:-

Strategic Control
Strategic control can be defined as the process of monitoring whether various strategies adopted by the organization are...
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