Process of evaluation and control

The steps in strategic evaluation and control are:

1. Review assumption :Assumption relate to environmental and organizational factors.Environment is dynamic.There is time lag between strategy formulation and implementation.Assumptions made while formulation lating a strategy may no longer be valid and relevant.Changing assumptions are taken into account.SWOT analysis is revised.
2. Measure performance :Strategic evaluation and control continually evaluates the implementation performance of strategy.Planned results are compared with actual results.It evaluates whether the plans,programms,projects and budget are guiding the organization towards objectives achievement.Implementation gaps are identified.
3. Adjust strategy :Necessary corrective actions are taken to adjust the strategy to new requirements.This is done steer the strategy to the right direction with due consideration to the changing assumptions and implementation gaps.

Strategy valuation can be no better than the information on which it based.Corrective actions are needed when

• External and internal environment factors significantly changes.
• Objectives achievement is not satisfactory.