Evaluating Strategic Management Essay

The strategic management process result in end that can have significant, long lasting consequences. In m each organizations, schema rating is simply an appraisal of how well an organization has performed. Strategy evaluation includes three basic activities1. Examining the underlying bases of firm dodge2. study anticipate result with actual result3. Taking corrective action to look that performance conform to plan.Strategy evaluation is becoming increasingly fractious with the passage of time, for many reasons.domesticAnd world economies were to a greater extent stable in years past, product life cycles were longer, product development cycles were longer, technological rise was slower, change occurred less frequently, there were fewer competitors, foreign companies were weak, and there were more regulated industries. Other reasons why scheme evaluation is more rugged today include the following trends1. A dramatic gain in the environment s complexity2. The increasing awkw ardy of predicting the future with the true3. The increasing number of variables4. The rapid rate of obsolescence of even the best plans5. The increase in the number of both domestic and world events affecting organizations6. The lessen time span for which planning can be done with any degree of evidenceFour Criteria (Richard Rummelt in evaluating strategic management unityStrategy should not present inconsistent goals and policies.Conflict and interdepartmental fuss symptomatic of managerial disorder and strategic inconsistency Consonance consider for strategies to examine sets of trends Adaptive response to external environment Trends are results of interactions among different trends FeasibilityNeither overtax resources or create unsolvable milling machinery problems Organizations must demonstrate the abilities, competencies, skills and talents to carry out a given schema AdvantageCreation or maintenance of competitive advantage favourable position in resources, skills, or positionNowadays, the strategy evaluation is become difficult because adjusting with the trends happened. There are some reasons for it1. Increase in environments complexity2. Difficulty predicting future with accuracy3. Increasing number of variables4. invest of obsolescence of plans5. Domestic and global events6. Decreasing time span for planning certaintya.Reviewing Bases of Strategy Develop revised EFE hyaloplasm Develop revised IFE MatrixReview effectiveness of strategy is important to evaluate how far these strategy matches with our goals, the way are1. Competitors reaction to strategy2. Competitors change in strategy3. Competitors changes in strengths and weaknesses4. Reasons for competitors strategic change5. Reasons for competitors successful strategies6. Competitors present market positions and lucrativeness7. Potential for competitor retaliation8. Potential for cooperation with competitorsb.Measuring Organizational Performance Comparing expected to actual results In vestigating deviations from plan Evaluating individual performance get on toward stated objectives