Performance measuresas change internal and external environments constant

Next, the information from the research should inform the strategy you choose for your business. . Strategy generally pulls from the best practices of the industry, but uses this only as a foundation on which to add very different activities that create a competitive advantage.

3. Calculate

Revisit the entire plan to look for any ideas or wording that is confusing, redundant, or irrelevant to the points you are making within the plan. Finally, proofread thoroughly for spelling, grammar, and formatting, enlisting the help of others to act as additional sets of eyes.

Q2.

c. Key performance indicators

Key performance indicators can be an essential success factor for strategy implementation. In the strategic planning process, KPIs can be directly linked to the achievement of strategic objectives (see figure). KPIs They provide evidence on the degree to which strategic and operational objectives have been achieved. In this way, KPIs serve as an early-warning system for strategic and operational problems. If deviation between the measured performance and the targeted performance is at a significant level, it is time to reconsider, analyze the causes, and take action.