Learning Activity 1:
After a Strategic Plan has been developed, approved and implemented, it's progress should be monitored, reviewed and evaluated to determine if the specific strategic objectives are being met.
a) Describe, in detail, the process of developing a strategic review process for an existing strategic plan a company may already have in place. In your discussion be sure to identify some of the quantitative business metrics that might be evaluated and what they mean.
b) Provide an example of "one hypothetical strategy" and how the strategic review process might be conducted to monitor and review that strategy.
Learning Activity 2:
Strategy Monitoring is the final (and ongoing) aspect of strategic planning. For this learning activity please discuss in detail how managers can effectively:
- Monitor the strategies that have been formulated, and
- Respond to strategy performance in light of the company's Corporate Objectives.
Please focus your responses on the various tools and methods discussed in this course as well as other courses you have taken in the Business program. Be sure to use specific examples in your discussion, and reference specific course work that you used.