Search results
Results from the WOW.Com Content Network
Strategy control, in turn, provides timely and valid feedback about organisational performance so that change and adaptation become a routine part of the implementation effort. Controls allow for the revision of execution-related factors if desired goals are not being met.
Although strategic control is a general management topic rather than a prescriptive tool, its reliance on feedback on organisational performance has resulted in a long association with performance management tools such as the balanced scorecard and its derivatives such as the Performance Prism, and with related strategy implementation / execution frameworks such as the ACME framework, [15] the ...
Strategic planning may also refer to control mechanisms used to implement the strategy once it is determined. In other words, strategic planning happens around the strategic thinking or strategy making activity. [24] Strategic management is often described as involving two major processes: formulation and implementation of strategy.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
In contrast, Burnett regards strategy as a plan formulated through methodology in which strategic problem encompasses six tasks: goal formulation, environmental analysis, strategy formulation, strategy evaluation, strategy implementation, and strategy control. [28] The literature identifies two main sources for defining a strategic problem.
Articles relating to strategic management, the formulation and implementation of the major goals and initiatives taken by an organization's top managers on behalf of owners, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
From January 2008 to December 2012, if you bought shares in companies when Constance J. Horner joined the board, and sold them when she left, you would have a -3.8 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The original thinking behind a balanced scorecard was for it to be focused on information relating to the implementation of a strategy, and over time there has been a blurring of the boundaries between conventional strategic planning and control activities and those required to design a balanced scorecard.