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Made By: Anita Sharma
Deepali JainSakshi Arora
• Definition• Purpose of Strategic Monitoring System• Aspects of Strategic Monitoring System
• Identify key variables• Tracking and Monitoring• Strategy reassessment
• Benefits of Strategic Monitoring System
• Strategic: A plan of action or policy designed to achieve a major or overall aim.
• Monitoring: Observe and check the progress or quality of (something) over a
period of time; keep under systematic review.
• System: A set of things working together as parts of a mechanism or an interconnecting network.
• Strategic Monitoring System is a system to measure progress in regular intervals.
• It is the process of regular observing and recording of activities that takes place in a project.
• It also involves giving feedback about the progress of the project.
• It helps to assure that you're actually performing the action, according to plan. That you're "on track."
• Got to be sure on the results achieve whether they align with objectives intended to accomplish.
• It helps to take corrective action, not only on Strategies but also on Planning.
• It provides the essential link between the written plan and the day-to-day operation of your business.
• What changes in the environment have negatively affected the current strategy (e.g. interest rates, govt. controls, or price changes in substitute products)?
• What changes have major competitors made in their objectives & strategies?
• What changes have occurred in the industry in such attributes as capacity, entry barriers, substitute products?
• What new opportunities or threats have derived from changes in the environment, competitors strategies, or the nature of the industry?
• What changes have occurred in the industry’s key success factors?
• To what extent is the firms current strategy consistent with the preceding changes?
• Identify key variable
• Tracking and Monitoring
• Strategy reassessment
The key variables are of 2 types:
1.Those concerned with external forces.
2.Those concerned with the effects of certain action taken by the firm to implement the strategy.
• The next step is to identify what information or measures are needed on each of the key Variables to determine whether the implementation of strategic plan is on schedule-and If not, why not.
• The firm can use the plan as an early warning system as well as diagnostic tool.
• In any event the firm must closely examine the relevancy, accuracy, and cost of obtaining the needed measures.
• This can take place at periodic intervals- for example, quarterly and annually when the firm evaluates its performance to date along with major changes in the external environment.
• It helps to check that actions were implemented as planned.
• It helps to check whether assumptions made during identification of the problem and its context were correct.
• It helps to check whether the actions have resulted in risk reductions.
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