Strategic Cantrol Presentation
|Introduction to Strategic Control|
|Strategic control is a crucial process in managing and evaluating the implementation of an organization's strategy.|
It involves monitoring and measuring the progress of strategic initiatives.
The main goal of strategic control is to ensure the alignment of actions with strategic objectives.
|Types of Strategic Control|
|Long-term control: Focuses on the overall direction and long-term goals of the organization.|
Operational control: Deals with day-to-day activities and ensures efficient use of resources.
Performance control: Evaluates the performance of individuals, teams, and departments against set targets.
|Key Elements of Strategic Control|
|Setting clear objectives: Clearly defining goals and objectives is essential for effective strategic control.|
Monitoring progress: Regularly tracking and assessing progress against established targets.
Taking corrective actions: Identifying deviations and taking necessary actions to realign activities with strategic goals.
|Tools and Techniques for Strategic Control|
|Balanced Scorecard: Provides a comprehensive framework for measuring performance across different perspectives.|
Key Performance Indicators (KPIs): Specific metrics used to evaluate the performance of critical activities.
SWOT Analysis: Helps identify strengths, weaknesses, opportunities, and threats to make informed strategic decisions.
|Challenges in Strategic Control|
|Lack of alignment: Misalignment between strategic goals and operational activities can hinder effective control.|
Inaccurate data: Reliance on inaccurate or incomplete data can lead to faulty decision-making.
Resistance to change: Employees' resistance to change can impede the implementation of strategic initiatives.
|Benefits of Effective Strategic Control|
|Improved performance: Effective control ensures that actions are aligned with strategic goals, leading to improved performance.|
Enhanced decision-making: Accurate monitoring and evaluation enable informed decision-making in real-time.
Increased adaptability: Strategic control allows organizations to adapt to changing market conditions and stay competitive.
|References (download PPTX file for details)|
|David, F. R., & David, F. R. (2020). Strategi...|
Kaplan, R. S., & Norton, D. P. (1996). The ba...
Hitt, M. A., Ireland, R. D., & Hoskisson, R. ...