Question

1. According to your textbook, the strategy-evaluation process consists of three basic activities:
   1. • Examine the underlying bases of a firm's strategy.
      • Compare expected results with actual results.
      • Take corrective actions to ensure that performance conforms to the plan.
2. Which of the three strategy-evaluation activities do you think is most critical to be performed well? Why?

Answer 1

Strategic Evaluation

It can be defined as assessing "are the operations going according to the strategy made and also the performance of each employee involved in the operation". Strategic evaluation is a crucial aspect because it is related to the operations which are being performed to achieve the goal effectively and efficiently. The process basically calculates the effectiveness of operations and employee efforts.

Among the given options I think "take corrective actions to ensure that performance conforms to the plan" as most significant and have to be performed without errors.

The decision-makers of the company should be experienced, confident, and should be capable of making operative decisions quickly. The aspect is the road to achieve the goal effectively and efficiently and the decisions should be easily driveable on that road. Any failure in the operations would eventually incur the company losses. The decision-makers of the company are generally from the top-level management i.e CEO, DIRECTOR, MANAGERS, etc.

Activities of Decision Makers

- Oversee the Operations

The main responsibility of decision-makers is to check all the operations are running smoothly or not and if not, then they are responsible to rectify the errors and correct them at the earliest.

- Strategic Checks

The decision-makers of the company must ensure that the operations running is in accordance with the strategy. Daily checks of the operations are necessary or operations would go in another direction.

- Taking Correct Decisions

Decision making should be accurate and correct as there is no coming back after a wrong decision is made in the business. Some wrong decisions even can lead to the closure of the business in no time.

Employee performance is something that is expected by an employer from an employee. The employer should check if the employee is performing operations according to the capabilities or not,

Influencers of Employee Performance

- CONFLICT OF INTEREST

- DISSATISFACTORY COMPENSATIONS

- DISSATISFACTORY WORK ENVIRONMENT

The responsibility of the employer should be to ask the employee in case of need of anything that will help him/her work proficiently towards the attainment of companies goal effectively and efficiently. Employee satisfaction should be the most important aspect of the employer's mind. If the employee does not perform according to the expectations of the employee even after getting everything he/she desired for, then employer may sue them because otherwise it will be considered as a wasteful expense for the company.

Actions to be Taken by the Employer to Assess the Employee Performance going with the Plan or not

- Employee Involvement

Involve the employee in every operation of the department he/she is related to. It will give him the employer the brief of knowledge, information that the employee has and also gives the employer an idea of his/her effectiveness and efficiency during the operations.

- Objectives must be Cleary Communicated

Every employee must be aware of "what is to be achieved".This will help the employer in knowing that if the employee is interested in the operations related to the objective or not. This will help the employer in choosing the right employees for the particular objective operations.

- Duration of Operations

Generally, if the operations did not go according to the plan, they get delayed. The responsibility of the employer is to check the operations on a daily basis.

- Employee Satisfaction

Hard-working and effective employees must be given complete satisfaction through incentives, rewards, etc. Dissatisfied employees generally don't do the operations willfully and leads to non effectiveness.