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    Success Today Is No Guarantee of Success Tomorrow!

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    Ammad Maqbool
    Strategy evaluation assesses whether a firm's strategies are effective given changes to internal and external factors. A strategy evaluation matrix indicates key questions to address, possible answers, and appropriate actions. Actions are only needed if major changes have occurred internally or externally, or if objectives are not being met. The strategy evaluation framework involves reviewing factors, measuring performance, and taking corrective actions if needed to capitalize on strengths and opportunities or address weaknesses and threats. Managers at all levels provide input on strategy effectiveness.

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    Success Today Is No Guarantee of Success Tomorrow!

    Uploaded by

    Ammad Maqbool
    280 views8 pages
    Strategy evaluation assesses whether a firm's strategies are effective given changes to internal and external factors. A strategy evaluation matrix indicates key questions to address, possible answers, and appropriate actions. Actions are only needed if major changes have occurred internally or externally, or if objectives are not being met. The strategy evaluation framework involves reviewing factors, measuring performance, and taking corrective actions if needed to capitalize on strengths and opportunities or address weaknesses and threats. Managers at all levels provide input on strategy effectiveness.

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    Strategy evaluation assesses whether a firm's strategies are effective given changes to internal and external factors. A strategy evaluation matrix indicates key questions to address, possible answers, and appropriate actions. Actions are only needed if major changes have occurred internally or externally, or if objectives are not being met. The strategy evaluation framework involves reviewing factors, measuring performance, and taking corrective actions if needed to capitalize on strengths and opportunities or address weaknesses and threats. Managers at all levels provide input on strategy effectiveness.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    280 views8 pages

    Success Today Is No Guarantee of Success Tomorrow!

    Uploaded by

    Ammad Maqbool
    Strategy evaluation assesses whether a firm's strategies are effective given changes to internal and external factors. A strategy evaluation matrix indicates key questions to address, possible answers, and appropriate actions. Actions are only needed if major changes have occurred internally or externally, or if objectives are not being met. The strategy evaluation framework involves reviewing factors, measuring performance, and taking corrective actions if needed to capitalize on strengths and opportunities or address weaknesses and threats. Managers at all levels provide input on strategy effectiveness.

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    OVERVIEW

    Strategy Evaluation is the final step in strategic management.


    Strategies are subject to future modifications because Internal & External factors are constantly changing.

    Success today is no guarantee of success tomorrow!


    So Strategy evaluation is the primary means for obtaining information when strategies are not working well.

    S.E ASSESSMENT MATRIX


    Strategy Evaluation Assessment Matrix indicates:
    Key questions that should be addressed. Alternative answers to those questions. Appropriate actions for an organization to take.

    In Strategy Evaluation Assessment Matrix actions are always needed except when:
    Internal & External factors have not significantly changed. Firm is progressing satisfactory towards achieving stated objectives.

    Cont...

    Have Major Changes Have Major Changes Occurred in firms Occurred in firms internal strategic external strategic position? position? No Yes Yes No Yes No

    Has the firm progressed satisfactorily toward Achieving Its Stated Objectives? No Yes No

    Result

    No

    No

    Yes

    S.E FRAMEWORK
    Strategy Evaluation Framework facilitate the accomplishment of annual & long-term objectives by the following three activities:
    Reviewing internal & external factors. Measuring performance. Taking corrective actions.

    It allows an organization:
    To capitalize on internal strengths as they develop. To exploit external opportunities as they emerge. To recognize & defend against threats. To tone down internal weaknesses before they become injurious.

    Cont...
    ACTIVITY 1. REVIEW UNDERLYING BASES OF STRATEGY Prepare revised IFE Matrix Compare revised to existing IFE Matrix Prepare revised EFE Matrix Compare revised to existing EFE Matrix

    Do significant differences occur?

    Yes

    ACTIVITY 2. MEASURE ORGANIZATIONAL PERFORMANCE

    ACTIVITY 3. TAKING CORRECTIVE ACTIONS

    Comparer planed to actual progress toward meeting stated objectives

    Do significant differences occur?

    Yes

    Continue present course!

    REVIEWING BASES OF STRATEGY


    Internal strengths & weaknesses and external opportunities & threats represent bases that should be monitored continually for changes.

    Revised IFE Matrix


    Indicates how effective a firms strategies in response to key strengths & weaknesses. Addresses questions such as: Are our internal strengths & weaknesses still strengths & weaknesses? Have we added other internal strengths & weaknesses? If so what are they?

    Revised EFE Matrix


    Reveals how effective a firms strategies in response to key opportunities & threats. Deal with questions such as: Are our external opportunities & threats still opportunities & threats? Are there now other opportunities & threats? If so what are they?

    Cont...
    Measure Organizational Performance
    Compare planned to actual performance toward meeting stated objectives. But there are several internal & external factors that can prevent achieving long-term & annual objectives.

    Internal Factors
    Ineffective strategies chosen. Poor implementation activities. Too optimistic objectives.

    External Factors
    Competitors actions. Changes in demand. Changes in technology. Economic changes. Govt actions.

    Cont...
    Thus failure to achieve objectives may not be the result of unsatisfactory work by managers & employees. Sometimes managers & employees on the front-lines discover inappropriate strategies well before strategists. Organizations desperately need to know as soon as possible when their strategies are not working, in order to shape their own future rather than allowing it to constantly shaped by other forces.
    Top Management
    (Formulation)

    Middle Management
    (Implementation)

    First-Line Management
    (Evaluation)

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