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.
According to Wheelen and Hunger “Strategic evaluation and control is a process in which corporate activities and performance results are monitored so that actual performance can be compared with desired performance”. In the strategy evaluation and control, process managers determine whether the chosen strategy is achieving the organization’s objectives. It is the process of determining the effectiveness of a given strategy in achieving the organizational objectives and taking corrective actions whenever required. The purpose of the strategic evaluation is to evaluate the effectiveness of strategy in achieving organizational objectives.
