Week 2

William Boyd

Week 2 LT reflection

MGT 498

Team D

Evaluation and Control

The control and evaluation process guarantees that an organization or a business is accomplishing the goal set out to achieve. It differentiates the implementation with wanted solutions and gives the response necessary for management to examine results and take the corrective action if need be. The evaluation and tracking process is included with the strategic planning process. Depending on what industry critical information such as production and regulations, processes are significant areas to take into consideration when planning. This process also can be viewed as a five step feedback model. The first step is determining what to measure. Second step is predetermined standards. Third step is to measure the performance. The fourth step is a critical one because this is where we ask the question does performance match the standards. If so then stop if not then we go on to step five which would be take corrective action. With the first two steps of the control model top management is more effective then it is with the last two follow-through steps. It has a tendency to form a control system and after that it then delegates the performance to others. Our team understands the importance of strategic planning and management in the business world. To create value and sustained competitive advantage through business strategy, organization must be able to design, produce, and deliver enhanced product and services to its consumers for a better price than its rivals. Organization that develops effective core competencies strengthens their strategic advantage. The most commonly used measure of corporate performance is return on investment (Wheelen & Hunger, 2014).Strategic management helps determine the mission and objectives of the organization within the framework of its internal and external environment.