Strategic Control – 4 Major Types: Premise, Implementation, Strategic Surveillance and Special Alert Control.
Strategic control may involve the reassessment of a strategy due to an immediate, unforeseen event. For example, if a company's main product is becoming obsolete, the company must immediately reassess its strategy. Implementing a strategy often involves a series of activities that occur over a period.
In management, there are varying levels of control: strategic (highest level), operational (mid-level), and tactical (low level).
1) It is directed toward overall organizational goals and objectives; 2) It includes multiple stakeholders in decision making; 3) It requires incorporating both short-term and long-term perspectives; 4) It involves the recognition of trade-offs between effectiveness and efficiency.
What is strategic control? Strategic control is a way to manage the execution of your strategic plan. As a management process, it's unique in that it's built to handle unknowns and ambiguity as it tracks a strategy's implementation and subsequent results.
Strategic Control processes ensure that the actions required to achieve strategic goals are carried out, and checks to ensure that these actions are having the required impact on the organisation.
The 3 Cs are: Company, Customers and Competitors - the three semi-fixed environmental factors in your market.
The seven elements (7 C's) are: customers, competitors, capabilities, cost, channels, communication, and coordination.
The methodology brings together five variables to improve organizations and their operations: Purpose, Principles, Process, People and Performance. The meeting of these supposedly different business disciplines seeks to increase the effectiveness of strategic implementation.
4 Steps of the Control Process are;
Establishing Standards and Methods for Measuring Performance. Measuring the Performance. Determining whether Performance Matches the Standard. Taking Corrective Action.
Organizational control typically involves four steps: (1) establish standards, (2) measure performance, (3) compare performance to standards, and then (4) take corrective action as needed.
Proportional, integral, derivative (PID) control is by far the most popular controller in industry today. It is extremely robust, easily implemented and intuitive.
Effective strategy control requires frequent monitoring of the progress of the strategy and its execution to assess whether the planned results are being achieved. A strategy control system ensures action. The goal of the strategy control system is to ensure effective action throughout the organization.
There are four types of strategic control according to purpose presupposition control, implementation control, strategic surveillance, and vigilance control.
The six pillars of transformation on which the plan focusses are undergraduate education, graduate education, research, infrastructure, information and communication technology, and campus development.
Before we further discuss strategic management, we should define nine key terms: competitive advantage, strategists, vision and mission statements, external opportunities and threats, internal strengths and weaknesses, long-term objectives, strategies, annual objectives, and policies.
The three factors determining your strategic priorities are your company objectives, resources, and timing. Each goal uses a given amount of resources and time frame to meet company objectives. Objectives that impact your productivity or need urgent implementation go to the top of your list.
The four Ps are a “marketing mix” comprised of four key elements—product, price, place, and promotion—used when marketing a product or service. Typically, businesses consider the four Ps when creating marketing plans and strategies to effectively market to their target audience.
This method has you focusing your analysis on the 3C's or strategic triangle: the customers, the competitors and the corporation.
These five types of management control systems are (i) cultural controls, (ii) planning controls, (iii) cybernetic controls, (iv) reward and compensation controls and (v) administrative controls.
The basic control process, wherever it is found and whatever it is found and whatever it controls, involves three steps: (1) establishing standards. (2) measuring performance against these standards. and (3) correcting deviations from standards and plans. 1.