Evaluating Strategic Management Essay Example for Free

Evaluating Strategic Management EssayThe strategical trouble process result in decision that can have significant, long lasting consequences. In many a(prenominal) organizations, scheme evaluation is simply an appraisal of how well an organization has performed. system evaluation includes three prefatorial activities1. Examining the underlying bases of firm strategy2. Comparing expected result with actual result3. Taking strict action to ensure that capital punishment conform to plan. system evaluation is becoming increasingly difficult with the passing play of time, for many reasons.domesticAnd world economies were more than stable in years past, production life cycles were longer, product development cycles were longer, technological advancement was slower, change occurred less frequently, there were fewer competitors, foreign companies were weak, and there were more regulated industries. Other reasons why strategy evaluation is more difficult today include the pas time trends1. A dramatic increase in the environment s complexity2. The increasing difficulty of predicting the upcoming with accuracy3. The increasing follow 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 decreasing time span for which planning can be done with any degree of certaintyFour Criteria (Richard Rummelt in evaluating strategic management ConsistencyStrategy should not present inconsistent goals and policies.Conflict and interdepartmental bickering symptomatic of managerial disorder and strategic inconsistency ConsonanceNeed for strategies to examine sets of trends Adaptive response to external environment Trends ar results of interactions among some other trends FeasibilityNeither overtax resources or create unsolvable sub problems Organizations must demonstrate the abilities, competencies, skills and talents to stretch out out a given strategy Advantag eCreation or maintenance of competitive receipts Superiority 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. change magnitude number of variables4. Rate of obsolescence of plans5. Domestic and global events6. Decreasing time span for planning certaintya.Reviewing Bases of Strategy Develop revised EFE Matrix Develop revised IFE MatrixReview effectiveness of strategy is in-chief(postnominal) 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 profitability7. Potential for competitor avenging8. Potential for cooperation w ith competitorsb.Measuring Organizational Performance Comparing expected to actual results Investigating deviations from plan Evaluating individual performance Progress toward stated objectives