Strategic evaluation and control can be defined as the process of determining the effectiveness of a given strategy in achieving the organizational objectives and taking corrective action wherever required. Actually, it is a system of monitoring, supervision, and follow-up. The fundamental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.
Purposes or objective of strategic evaluation and control: Strategic evaluation and control are very important in strategic management. Anyway, the objectives of strategic evaluation and control are as follows:
The need for feedback: Within an organization, there is a need to receive feedback on current performance, so that appraisal can be done.
Appraisal and reward: Good performance should be rewarded. This is essential for motivating the employees. Strategic evaluation and control help a lot here.
Check the validity of a strategic choice: Strategic evaluation and control help to keep a check on the validity of a strategic choice. It helps to identify the faults and errors in a strategy.
Matching between decisions and intended strategy: Strategic evaluation and control can help to assess whether the decisions match the intended strategy requirements.
A successful conclusion of the strategic management process: Strategic evaluation, through its process of control, feedback, rewards, and review help in a successful conclusion of the strategic management process.
Creating inputs for new strategic planning: The process of strategic evaluation and control provides a considerable amount of information and experience to strategists that can be useful in new strategic planning.
To overcome resistance to change: Strategic evaluation and control help identify the barriers of a given strategy and take corrective actions wherever required. Thus, it helps overcome resistance to change.
So, these are the various objectives or purposes of strategic evaluation and control.
