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Strategic Management - Module 6

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Strategic Management - Module 6

Uploaded by

Kidd Rubio
Copyright
© © All Rights Reserved
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Download as PDF, TXT or read online on Scribd
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KIDD ASTER RUBIO BSA 3-1

Strategic Management - Module 6

1. In your own words, what is Strategy Evaluation and Control? Why is it important and
why do we need to study it?

Strategy Evaluation and Control, integral to effective business management, involves the
assessment of an organization's strategies and the implementation of measures to ensure
alignment with overarching goals. This process is particularly crucial in the Philippines, a rapidly
evolving economic landscape, where companies need to navigate dynamic market conditions.
By analysing key performance indicators, market trends, and competitor activities, businesses
can gauge the effectiveness of their plans and make informed adjustments in the face of
uncertainty.

In the context of the Philippines, a diverse and competitive business environment makes
Strategy Evaluation and Control indispensable for companies aiming to thrive. As an
archipelagic nation with varying consumer preferences and regulatory landscapes, businesses
must understand and adapt strategies to stay relevant. It not only provides a practical
understanding of how organizations navigate complexities but also offers a foundation for
strategic decision-making in future leadership roles.

The importance of studying Strategy Evaluation and Control extends beyond the classroom for
college students in the Philippines. Firstly, it equips them with the ability to critically analyze
business strategies, honing their problem-solving skills. Secondly, it instills a forward-thinking
mindset, emphasizing the need for continuous adaptation to sustain competitiveness. This
knowledge is particularly relevant in the Philippine context, where entrepreneurship is on the
rise. Aspiring business leaders can leverage this understanding to navigate the challenges of
starting and managing their enterprises successfully.

In conclusion, a grasp of Strategy Evaluation and Control is imperative for college students in
the Philippines. This knowledge empowers them to contribute effectively to the dynamic and
evolving business landscape of their country. By understanding and implementing strategic
measures, students not only enhance their problem-solving abilities but also position
themselves as valuable contributors to the success and sustainability of businesses in the
Philippines.
2. Briefly discuss the Control Process and give examples for each step.

Establishment of Standards
The first step in the control process is establishing standards, which are the criteria against
which actual performance is measured. In the context of a Filipino manufacturing company, a
standard could be set for the production output per hour on a factory assembly line. For
example, the company might establish a standard of producing 100 units of a particular product
every hour.

Measurement of Performance
Once standards are set, the next step involves measuring actual performance against these
standards. Continuing with the example of the manufacturing company in the Philippines,
supervisors could use real-time monitoring systems to track the number of units produced per
hour. If the actual performance deviates from the set standard, it becomes a signal for further
investigation.

Comparison of Performance Against Standards


In this step, the measured performance is compared to the established standards. For our
manufacturing example, if the actual production falls below the set standard, the management
would analyze the reasons for the deviation. This could involve assessing machine efficiency,
workforce productivity, or identifying any bottlenecks in the production process.

Corrective Action
The final step involves taking corrective action based on the comparison of performance against
standards. If the manufacturing company identifies a bottleneck in the production process,
corrective actions might include adjusting machine settings, providing additional training to the
workforce, or reorganizing the assembly line. The goal is to bring performance back in line with
the established standards and, in turn, ensure the company meets its production targets.

Understanding these steps in the control process is vital. Applying this knowledge, they can
contribute to effective decision-making within organizations, ensuring that strategies align with
objectives, and deviations from standards are promptly addressed for continuous improvement.
This understanding prepares them to navigate the dynamic and competitive business
environment in the Philippines.
3. Explain the three Modes of Correction and give examples for each.

Normal Mode
In the normal mode of correction, adjustments are made to the project schedule or resources
without disruption. This mode involves standard problem-solving techniques and is typically
employed when there is some flexibility in the project timeline. For example, consider a college
student in the Philippines working on a research project. If they realize that certain tasks are
taking longer than expected, they might reorganize their schedule, allocate additional time to
those tasks, or seek assistance without causing a major shift in the overall project timeline.

Crash Mode
Crash mode involves or allocating additional resources to meet project deadlines. This mode is
employed when there is a need for accelerated progress to catch up with the original project
schedule. For instance, a construction project in the Philippines might face unexpected delays
due to weather conditions. In crash mode, the project manager may decide to work with multiple
shifts, hire additional labor, or use faster construction methods to make up for lost time and
meet the project deadline.

Preplanned Crisis Mode


Preplanned crisis mode is a strategic approach where organizations anticipate potential issues
and have predefined plans in place to address them swiftly. This mode is proactive and involves
having contingency plans ready for potential crises. For instance, a technology company in the
Philippines might preplan for a possible cybersecurity breach. In the event of an actual breach,
the organization would immediately activate a well-prepared response plan that includes
isolating affected systems, notifying stakeholders, and implementing security measures to
mitigate the impact.

Understanding and applying these three modes of correction are crucial for college students in
the Philippines studying project management. Whether managing academic projects or future
professional endeavors, these modes provide a framework for dealing with unforeseen
challenges, ensuring projects stay on course, and deadlines are met. This knowledge equips
students with the skills needed to navigate the complexities of project management in various
contexts, contributing to successful outcomes in their academic and professional pursuits.
Strategic
Management

Module 6 Activity
_________________________________________________________

Kidd Aster Rubio


BSA 3-1

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