Research Paper
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
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
Bibliography: Chandler, Alfred Strategy and Structure: Chapters in the history of industrial enterprise, Doubleday, New York, 1962. Drucker, Peter The Practice of Management, Harper and Row, New York, 1954. Chaffee, E. “Three models of strategy”, Academy of Management Review, vol 10, no. 1, 1985. Barney, J. (1991) “Firm Resources and Sustainable Competitive Advantage”, Journal of Management, vol 17, no 1, 1991. http://www.ehow.com/info_7819558_strategic-evaluation.html#ixzz2FhharS6R