Strategic control offers significant advantages to organizations, primarily by ensuring alignment and monitoring progress toward strategic goals. It helps organizations stay on track and adapt effectively to changing environments.
Key Advantages of Strategic Control
Strategic control provides a framework for managing and improving an organization's performance relative to its strategic objectives. Here's a breakdown of the core advantages:
- Ensures Alignment: One of the most critical advantages of strategic control is that it keeps the organization's activities aligned with its overall strategic goals and objectives.
- It makes sure everyone is working towards the same goals.
- It minimizes wasted effort and conflicting activities.
- Example: If a company's strategy is to become a market leader in sustainable products, strategic control would ensure that all departments, from product development to marketing, are focused on initiatives that support sustainability.
- Monitors Progress: Strategic control provides a framework for tracking the implementation of strategies and ensures they are on course.
- It offers tools and processes to regularly assess progress against key performance indicators (KPIs).
- It enables timely identification and correction of deviations from the strategic plan.
- Example: If a company aims to increase its market share by 10% within a year, strategic control would involve regularly monitoring market share data and adjusting strategies if progress is slower than anticipated.
- Facilitates Adaptability: By continuously monitoring the internal and external environment, strategic control helps organizations identify emerging opportunities and threats, allowing them to adapt their strategies accordingly.
In summary, strategic control's advantages revolve around maintaining strategic alignment, diligently monitoring progress, and fostering organizational adaptability.
