Question & Answer: What is the importance of a strategy evaluation?…..

What is the importance of a strategy evaluation?

Expert Answer

Strategic evaluation provides an opportunity for executives and managers of a firm to take stock of the performance of the various strategies, programs and projects which were undertaken to achieve the goals and objectives of the organization. It provides an opportunity to evaluate the efficacy of various projects and initiatives taken and can act as a platform to initiate various course correction and control mechanism such that programs and projects which have veered away from intended objectives could be brought back on track.

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It also gives an overview of the costs and time which has been consumed in implementation of strategy and also the projected utilization in years to come against the expected benefits. With this information in hand, certain strategies can be tweaked, altered to ensure they provide more organizational value.

Also they provide an opportunity to review resource allocation and restructure the same to ensure that efficient resource allocation is made and utilization remains at an optimal level.

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