Business Strategy Exam 1 Practice

The ongoing process of evaluating how well a company's strategy is working and making corrective adjustments is strategy evaluation, also known as strategic control. This means regularly measuring performance against goals, analyzing variances, identifying what’s driving gaps, and taking actions to steer results back toward the desired direction. It completes the loop in strategic management by feeding insights from what’s happening in the market and in operations back into planning and execution. Strategy execution, by contrast, is about implementing the chosen plan, not evaluating its effectiveness over time. Strategic planning focuses on developing the plan, and corporate governance deals with oversight and accountability structures.