The Strategy-Evaluation Process, Criteria, and Methods
The strategic-management process results in decisions that can have significant, long-lasting consequences. Erroneous strategic decisions can inflict severe penalties and can be exceedingly difficult, if not impossible, to reverse. Therefore, most strategists agree that strategy evaluation is vital to an organization’s well-being; timely evaluations can alert management to problems or potential problems before a situation becomes critical. The strategy-evaluation process includes three basic activities:
Examine the underlying bases of a firm’s strategy.
Compare expected results with actual results.
Take corrective actions to ensure that performance conforms to plans.
Figure 9-1 illustrates ...
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