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The Importance Of Strategic Control Newman and Logan use the term "steering control" to highlight some important characteristics of strategic control Ordinarily, a significant time span occurs between initial implementation of a strategy and achievement of its intended results. During that time, numerous projects are undertaken, investments are made, and actions are undertaken to implement the new strategy. Also the environmental situation and the firm's internal situation are developing and evolving. Strategic controls are necessary to steer the firm through these events. They must provide some means of correcting the directions on the basis of intermediate performance and new information. Henry Mintzberg,one of the foremost theorists in the area of strategic management, tells us that no matter how well the organization plans its strategy, a different strategy may emerge. The differences between strategic and operational control are highlighted by reference to a general definition of management control: "Management control is the set of measurement, analysis, and action decisions required for the timely management of the continuing operation of a process". This section discusses in the terms presented. Starting with the intended or planned strategies, he related the five types of strategies in
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It is a demanding and rewarding style of managing a business. Management by objectives must create a climate of opinion in which these and other problems are recognised as well as providing the framework of techniques for solving them. These techniques are interdependent and the dynamic nature of the system can be shown as in the diagram above. It follows that the development of managers, which is a matter of vital importance to every company, only makes sense if it is integrated with the purpose of the business. Looked at in this way, management development is a valuable by-product of running a business efficiently. Some further comments can be made on: setting company objectives; key results analysis; management development and training. Management by objective is the approach by which both employees and superior jointly set performance goals and duties. Having participated in the fixation of his own goals, the employee becomes more involved dutiful and active in performance. MBO facilitates employees to adjust their time schedules from time to time to attain the goals in planned time. It helps employees understand objectives and duties clearly. MBO has three elements: 1. Managers (Subordinate manger) should be measured what they accomplish rather than how they spend their
It is a demanding and rewarding style of managing a business. Management by objectives must create a climate of opinion in which these and other problems are recognised as well as providing the framework of techniques for solving them. These techniques are interdependent and the dynamic nature of the system can be shown as in the diagram above. It follows that the development of managers, which is a matter of vital importance to every company, only makes sense if it is integrated with the purpose of the business. Looked at in this way, management development is a valuable by-product of running a business efficiently. Some further comments can be made on: setting company objectives; key results analysis; management development and training. Management by objective is the approach by which both employees and superior jointly set performance goals and duties. Having participated in the fixation of his own goals, the employee becomes more involved dutiful and active in performance. MBO facilitates employees to adjust their time schedules from time to time to attain the goals in planned time. It helps employees understand objectives and duties clearly. MBO has three elements: 1. Managers (Subordinate manger) should be measured what they accomplish rather than how they spend their