Strategy Evaluation

Question 1

What is Strategy Evaluation

Answer 1

Track, monitor, and evaluate how the strategy is being implemented

Question 2

what Strategic Control

Answer 2

Control of a strategy as it is being implemented

Question 3

4 Types of strategic controls

Answer 3

Financial Control
Output Control
Behavioral control
Culture Control

Question 4

Steps in designing an effective strategic control system

Answer 4

Establish targets
Create measuring and monitoring systems
Compare actual performance against targets
Evaluate results and take action if necessary

Question 5

Typical issues in strategy implementation

Answer 5

1. Organization immune system fights against anything new and foreign
2. Tradeoffs
3. All the seven S’s and variables in them need to be aligned
4. Interconnectedness of variables affecting change
5. Need to change everything at once

Question 6

BOD role in Evaluation of strategy

Answer 6

1. Establish progress milestones and metrics
2. Directors should consider a formalized review of strategy to assess overall performance and determine action items
3. Refine strategy and decide when to update plans

Question 7

What is crisis management with respect to the BOD

Answer 7

What is the type of crisis
Is the CEO responding appropriately
Is the organization’s communications been frank and truthful?
are there internal competencies to manage the crisis
How can the board help