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For strategic planning to work, it needs to include some formality (i.e., including an analysis of the internal and external environment and the stipulation of strategies, goals and plans based on these analyses), comprehensiveness (i.e., producing many strategic options before selecting the course to follow) and careful stakeholder management ...
Using responsive evaluation in Strategic Management.Strategic Leadership Review 4 (2), 22–27. David Besanko, David Dranove, Scott Schaefer, and Mark Shanley (2012) Economics of Strategy, John Wiley & Sons, ISBN 978-1118273630; Edwards, Janice et al. Mastering Strategic Management- 1st Canadian Edition. BC Open Textbooks, 2014.
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Monitoring or evaluation should begin early on in order to cut an errant strategy before losses or negative impacts become too costly or damaging. As mentioned in the Strategy translation, each short-term operating objectives needs to be associated with a measure whether it be an action plan with milestones or a metric (Owen, 1982).
Management by objectives (MBO), also known as management by planning (MBP), was first popularized by Peter Drucker in his 1954 book The Practice of Management. [1] Management by objectives is the process of defining specific objectives within an organization that management can convey to organization members, then deciding how to achieve each objective in sequence.
In a 2020 survey [1] 88% of respondents reported using the balanced scorecard for strategy implementation management, and 63% for operational management. Although less common, the balanced scorecard is also used by individuals to track personal performance; only 17% of respondents in the survey reported using balanced scorecards in this way.
The CIPP evaluation model is a program evaluation model which was developed by Daniel Stufflebeam and colleagues in the 1960s. CIPP is an acronym for context, input, process and product. CIPP is a decision-focused approach to evaluation and emphasizes the systematic provision of information for program management and operation. [1]