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Unit 8 : Strategy, Review, Evaluation and Control - Coggle Diagram

- - - - Resources,
      - Position
      - Skills
- - - - Comparing the firm's performance to competitors'
      - Comparing the firm's performance to industry averages
      - Comparing the firm's performance over different time periods
    - - Unexpected turns in economy
      - Unreliable suppliers / distributors
      - Unreasonable policies
      - Ineffective strategies
  - - - External and internal factors have no significantly changed
      - The firm is progressing satisfactorily toward achieving stated objectives
    - - Alter the firm's organisational structure
      - Replace one or more key individuals
      - Divest / sell out a divisions
      - Alter the firm's visions and mission
      - Revise objectives
      - Alter strategies
      - Devise new policies
      - Install new performance incentives ( reward for achieving KPI )
      - Raise capital with stock or debts
      - Add or terminate salespersons, employees or managers
      - Allocate resources differently
      - Outsource ( or reshore ) business function - E.g. : getting support from outside of the business.
  - - - How have competitors reacted to our strategies ?
      - How have competitors' strategies changed ?
      - Have major competitors' strengths and weaknesses changed ?
      - Why are competitors making certain strategic changes ?
      - Why are some competitors' strategies more successful than others ?
      - How satisfied are our competitors with their present market positions and profitability ?
      - How far can our major competitors be pushed before retaliating / fight back ?
      - How could we more effectively cooperate with our competitors ?