Why is it necessary to monitor and control strategic plans? Who should be responsible for monitoring and controlling strategic plans? Why? What are the pitfalls of failing to monitor and control strategic plans?
As an employee of an organization, what role do you play in the strategic planning process? What role do you play in the implementation process? What role do you play in the monitoring and controlling process?
//In order to satisfy this query, initially, we should have an understanding of the strategic plans and their monitoring & controlling. Further, according to the given instructions, you are required to define the necessity of monitoring & controlling the strategic plans and its consequences if not done properly. I am going to render an overview on these points which will help you to satisfy your query. See the text below: //
Strategic Plans: Monitoring and Controlling
The present world is highly competitive where organizations are having a difficult time for expanding their market share and sometimes for survival only. In order to deal with such circumstances, organizations form and implement several strategic plans. Strategic planning is considered as one of the very important functions for the management of a company. Strategic planning is a process, which includes several steps in it. In the process of strategic planning, monitoring & controlling are as important as formulation & implementation (Wilson & Gilligan, 2005).
It is very essential to monitor and control the strategic plans of a company because these steps enable the management to measure the effectiveness of strategies for the fulfillment of the predetermined organizational goals & objectives. Monitoring & controlling is an ongoing process in which companies regularly keep an eye on their strategies so that they can mould it according to the changing business conditions.
In the process of strategic planning, several factors are ...
The response address these queries on the necessity of monitoring strategic plans and the pitfalls of failing to do so in 920 words with 2 references. The employees' role in this process are also investigated.