Strategic Control
Strategic control is a management process that ensures an organization is on track to achieve its long-term goals. It involves monitoring and evaluating the effectiveness of strategies and making necessary adjustments based on performance data and changing conditions. This helps organizations remain competitive and responsive to market dynamics.
Key components of strategic control include setting performance standards, measuring actual performance, and analyzing variances. By comparing outcomes against established objectives, managers can identify areas for improvement and realign resources. This process is essential for organizations like businesses and non-profits to adapt and thrive in their respective environments.