REVIEW, EVALUATION AND CONTROL OF THE STRATEGY Part 1
The strategic management process generates decisions that produce significant
long-term consequences. Erroneous strategic decisions impose harsh punishments
that are very difficult, if not impossible, to reverse; therefore, most strategists agree
that the evaluation of the strategy is vital for the well-being of a company; Timely
assessments warn management of real problems or potential problems before a
situation becomes critical. The evaluation of the strategy includes three basic
activities:
1) examining the underlying bases of a company’s strategy
2) the comparison of expected results with actual results
3) taking corrective measures to ensure that the performance matches the
plans.
Adequate and timely feedback is the key to the effective evaluation of the strategy.
The evaluation of the strategy is not better than the information on which it operates,
