STRATEGIC MANAGEMENT

In today's eLearning, we will touch on two subtopics of Characteristics of an Effective Evaluation System and Contingency Planning.

The process used in evaluating strategies must exhibit several characteristics to be effective. First, strategy-evaluation activities must be economical. Having too much information can be just as bad as too little information, and too many controls can do more harm than good. This is because lack of information would not give an accurate depiction of the true situation while having too much information results in information overload resulting in second-guessing our decision severely hindering our overall decision-making ability

Strategy-evaluation activities also should be meaningful in that they should specifically relate to a firms objectives. They should provide managers with useful information about tasks over which they have control and influence. Strategy-evaluation activities should provide timely information. On occasion and in some areas, managers may need information on a daily or even continuous basis

Here is an exercise for you to do. First, search the Internet for information on Adidas. Based on the information, do you feel that Adidas is pursuing effective strategies and why?