Organisations of today exist in a dynamic and ever-changing business environment. If they have any hope of staying relevant in light of this kind of pressure, they need to constantly test and measure their processes, to ensure they are tracking well according to their targets.
If it is found that they are not tracking well enough to meet these targets, adjustments must be made to improve performance. For example, if an organisation were to realise that their conversion rate is low, they will need to address the processes in place that are aimed at turning leads into actual paying customers.
So, why should constant testing and measurement be a priority for organisations? Because these are two core business principles. Without them, an organisation will never know how far they have come, where they are going, or whether they are meeting their targets. The strategic management process is a roadmap to help organisations get to where they need to be.
Strategic control and evaluation is the third, and arguably the most important, step in the strategic management process. This phase of the process concentrates on evaluating the current strategy, to evaluate if it is helping or hindering an organisation’s pathway to success.
Many organisations are scared to measure and evaluate, in fear that they are falling extremely short. However, it is important to remember that this process will point you in the right direction when it comes to deciding on operational strategy.
There are various technological solutions aimed at helping organisations measure and evaluate their efforts, without which, organisations would be left in the dark when it comes to assessing their overall performance. Unlocking the right tools is crucial to in putting you on the road to success, or as the case with many businesses, simply getting you back on track, if you happen to find yourself going down the wrong path.