Share
Explore BrainMass

Strategic planning

1. Describe how risk management and contingency planning play important roles for the implementation plan. How could the Balanced Scorecard approach assist with a risk management assessment? 200 words
2. Describe and illustrate the four types of strategic control that might be part of a strategic plan. Which of the strategic controls would you consider to be included in your strategic plan? (Hint: Chapter 13, Pearce & Robinson) 200 words

Four types of strategic control are:
1. Premise control.
2. Strategic surveillance.
3. Special alert control.
4. Implementation control.

576 words

Solution Preview

1. Describe how risk management and contingency planning play important roles for the implementation plan. How could the Balanced Scorecard approach assist with a risk management assessment? 200 words

The balanced scorecard can help organizations in their risk management and contingency planning and play an integral part in achieving organizational objectives. Unfortunately, many executives see risk management and compliance as a necessary evil instead of an opportunity. The balanced scorecard has been touted as a tool that can help any organization to better measure and manage progress toward its chosen strategy. Since the management of risk is often instrumental in achieving organizational objectives, it makes sense to consider how risk management may be incorporated into the balanced scorecard to help with the identity, measurement, management and reporting of key risks. Since the balanced scorecard is an integrating framework, it lends itself ...

$2.19