BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Planning
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Communication
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Resource allocation
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Monitoring
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Detailed explanation-1: -The most important component of successful strategy implementation is defining clear goals and the process to help the team reach those goals.
Detailed explanation-2: -A monitoring strategy is a framework within which you can plan your monitoring and reporting. An integrated strategy should provide for the different types of monitoring you do and identify connections with monitoring carried out by other organisations.
Detailed explanation-3: -The strategic goals translated into operational goals with performance indicators need to be monitored to assess whether the objectives are being achieved. Monitoring progress creates feedback about the performance of the strategy and its execution allowing to make adjustments accordingly.