Assignment

Running Head: STRATEGY EVALUATION

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STRATEGY EVALUATION 3

Strategy Evaluation

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The business environments are dynamic and hence require businesses to keep evaluating their operations to ensure they meet the latest business need. Chapter 9 of the book, "Strategic management: A competitive advantage approach, concepts, and cases," discusses the process concepts of strategy evaluation, review, and control. The chapter discusses the critical strategy evaluation process, criteria process, and methods. These evaluation criteria and methods include the activities that comprise strategy evaluation, a balanced scorecard, the critical characteristics of effective strategic evaluation. In the chapter, the role of auditing in the strategic evaluation is discussed. The author is of the book provides 17 guidelines that help businesses to conduct effective strategy evaluation. Also, in this chapter, the fundamental changes that have happened in the 21 century regarding the strategy evaluation are highlighted.

In this chapter, the key areas that are worth reading and understanding are the strategic evaluation process, criteria and process, and the 17 guidelines of the effective strategy evaluation. Strategic evaluation, criteria, method, and process examines the operations and steps that are conducted to conduct the strategy evaluation. The main activities that are held in this operation include an examination of the underlying base of the firm's strategy, a comparison of expected results and the actual result, and taking corrective actions to ensure the performance plan. The 17 guidelines help to ensure the evaluation process remains active.

This chapter is one of the essential parts of project and strategy implementation; however, it's the most neglected. The analysis of this chapter allowed me to learn the process, methods, and criteria of strategy evaluation. Strategy evaluation in business is essential to ensure the strategies that have been implemented in the organization are effective in helping the business to meet its objectives. The continuous business assessment allows the firm to remain competitive advantage as it is able to perform to the required standards.

References

David, F., & David, F. R. (2016). Strategic management: A competitive advantage approach, concepts, and cases. Sixteenth edition.