STRATEGY EVALUATION METHODS AND APPLICATION

DEDICATION

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EXECUTIVE SUMMARY

Strategy Evaluation is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results. The managers can also assess the appropriateness of the current strategy in todays dynamic world with socio-economic, political and technological innovations. Strategic Evaluation is the final phase of strategic management. The significance of strategy evaluation lies in its capacity to co-ordinate the task performed by managers, groups, departments etc, through control of performance. Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc.

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TABLE OF CONTENTS

TOPICS PAGE NO.

DedicationiAcknowledgementiiExecutive SummaryiiiTable Of Contentiv

CHAPTER 1Introduction to Leadership Styles

1.1 STRATEGY1.2 STRATEGY EVALUATION PROCESS AND ITS SIGNIFICANCE1.3 THE PROCESS OF STRATEGY EVALUATION CONSISTS OF FOLLOWING STEPS1.4 STRATEGY EVALUATION AND CONTROL1.5 STRATEGIC MANAGEMENT MODELS1.6 STRATEGIC EVALUATION METHODS AND APPLICATION1.7 STRATEGY EVALUATION PROCESS AND ITS SIGNIFICANCE1.8 FIXING BENCHMARK OF PERFORMANCE 1.9 MEASUREMENT OF PERFORMANCE 1.10 TAKING CORRECTIVE ACTION 1.11 STRATEGIC EVALUATION1.12 DIFFICULTIES IN STRATEGY EVALUATION1.13 EVALUATION AND CONTROL PROCESS1.14 STRATEGIC AND OPERATIONAL CONTROL: A COMPARISON

1.15 TYPES OF ORGANIZATIONAL CONTROLS1.15.1 FEED-FORWARD CONTROLS1.15.2 CONCURRENT CONTROLS1.15.3 FEEDBACK CONTROLS1.16 SOME CONTROL TECHNIQUES1.16.1 ACTIVITY-BASED COSTING1.16.2 ENTERPRISE RISK MANAGEMENT 1.17 PRIMARY MEASURES OF CORPORATE PERFORMANCE1.18 EVALUATING TOP MANAGEMENT & BOD

CHAPTER NO. 2CASE STUDY OF SOURAV CHANDIDAS GANGULY

2.1 INTRODUCTION2.2 A WHOLE ORGANIZATION STRATEGY FOR EVALUATION OF TRAININGChapter no. 3SWOT Analysis of SOURAV CHANDIDAS GANGULY

3.1 Strengths193.2 Weaknesses193.3 Opportunities203.4 Threats20

CONCLUSION21RECOMMENDATIONS22BIBLIOGRAPHY23

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CHAPTER No. 1INTRODUCTIONT0THEORETICAL FRAMEWORKFOR RESEARCH IN MANUFACTURINGORGANIZATION

1.1 STRATEGYStrategy is a high level plan to achieve one or more goals under conditions of uncertainty. In the sense of the "art of the general", which included several subsets of skills including "tactics", siegecraft, logistics etc., the term came into use in the 6th century C.E. in East Roman terminology, and was translated into Western vernacular languages only in the 18th century. From then until the 20th century, the word "strategy" came to denote "a comprehensive way to try to pursue political ends, including the threat or actual use of force, in a dialectic of wills" in a military conflict, in which both adversaries interact. Strategy is important because the resources available to achieve these goals are usually limited. Strategy generally involves setting goals, determining actions to achieve the goals, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources). The senior leadership of an organization is generally tasked with determining strategy. Strategy can be intended or can emerge as a pattern of activity as the organization adapts to its environment or competes. It involves activities such as strategic planning and strategic thinking.Henry Mintzberg from McGill University defined strategy as "a pattern in a stream of decisions" to contrast with a view of strategy as planning,[4] while Max McKeown (2011) argues that "strategy is about shaping the future" and is the human attempt to get to "desirable ends with available means". Dr. Vladimir Kvint defines strategy as "a system of finding, formulating, and developing a doctrine that will ensure long-term success if followed faithfully.(http://en.wikipedia.org/wiki/Strategy)

1.2 STRATEGY EVALUATION PROCESS AND ITS SIGNIFICANCEStrategy Evaluation is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results. The managers can also assess the appropriateness of the current strategy in todays dynamic world with socio-economic, political and technological innovations. Strategic Evaluation is the final phase of strategic management.

The significance of strategy evaluation lies in its capacity to co-ordinate the task performed by managers, groups, departments etc, through control of performance. Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc.

1.3 THE PROCESS OF STRATEGY EVALUATION CONSISTS OF FOLLOWING STEPS1. Fixing benchmark of performance - While fixing the benchmark, strategists encounter questions such as - what benchmarks to set, how to set them and how to express them. In order to determine the benchmark performance to be set, it is essential to discover the special requirements for performing the main task. The performance indicator that best identify and express the special requirements might then be determined to be used for evaluation. The organization can use both quantitative and qualitative criteria for comprehensive assessment of performance. Quantitative criteria includes determination of net profit, ROI, earning per share, cost of production, rate of employee turnover etc. Among the Qualitative factors are subjective evaluation of factors such as - skills and competencies, risk taking potential, flexibility etc.2. Measurement of performance - The standard performance is a bench mark with which the actual performance is to be compared. The reporting and communication system help in measuring the performance. If appropriate means are available for measuring the performance and if the standards are set in the right manner, strategy evaluation becomes easier. But various factors such as managers contribution are difficult to measure. Similarly divisional performance is sometimes difficult to measure as compared to individual performance. Thus, variable objectives must be created against which measurement of performance can be done. The measurement must be done at right time else evaluation will not meet its purpose. For measuring the performance, financial statements like - balance sheet, profit and loss account must be prepared on an annual basis.3. Analyzing Variance - While measuring the actual performance and comparing it with standard performance there may be variances which must be analyzed. The strategists must mention the degree of tolerance limits between which the variance between actual and standard performance may be accepted. The positive deviation indicates a better performance but it is quite unusual exceeding the target always. The negative deviation is an issue of concern because it indicates a shortfall in performance. Thus in this case the strategists must discover the causes of deviation and must take corrective action to overcome it.4. Taking Corrective Action - Once the deviation in performance is identified, it is essential to plan for a corrective action. If the performance is consistently less than the desired performance, the strategists must carry a detailed analysis of the factors responsible for such performance. If the strategists discover that the organizational potential does not match with the performance requirements, then the standards must be lowered. Another rare and drastic corrective action is reformulating the strategy which requires going back to the process of strategic management, reframing of plans according to new resource allocation trend and consequent means going to the beginning point of strategic management process.

(http://www.managementstudyguide.com/strategy-evaluation.htm)

1.4 STRATEGY EVALUATION AND CONTROLThe final stage in strategic management is strategy evaluation and control. All strategies are subject to future modification because internal and external factors are constantly changing. In the strategy evaluation and control process managers determine whether the chosen strategy is achieving the organization's objectives. The fundamental strategy evaluation and control activities are: reviewing internal and external factors that are the bases for current strategies, measuring performance, and taking corrective actions.

1.5 STRATEGIC MANAGEMENT MODELSStrategic management is a broader term that includes not only the stages already identified but also the earlier steps of determining the mission and objectives of an organization within the context of its external environment. The basic steps of the strategic management can be examined through the use of strategic management model. The strategic management model identifies concepts of strategy and the elements necessary for development of a strategy enabling the organization to satisfy its mission. Historically, a number of frameworks and models have been advanced which propose different normative approaches to strategy determination. However, a review of the major strategic management models indicates that they all include the following elements: Performing an environmental analysis. Establishing organizational direction. Formulating organizational strategy. Implementing organizational strategy. Evaluating and controlling strategy.Strategic management is a continuous and dynamic process. Therefore, it should be understood that each element interacts with the other elements and that this interaction often happens simultaneously. The major models differ primarily in the degree of explicitness, detail, and complexity. These differences derive from the differences in backgrounds and experiences of the authors. Some of these models are briefly presented below.(http://www.introduction-to-management.24xls.com/en224)

1.6 STRATEGIC EVALUATION METHODS AND APPLICATIONStrategy can neither be formulated nor adjusted to changing circumstances without a process of strategy evaluation. Whether performed by an individual or as part of an organizational review procedure, strategy evaluation forms an essential step in the process of guiding an enterprise. Evaluation is vital to the organizations well-being because: It compares performance with desired results and gives feedback for management to evaluate and take corrective It alerts management to potential/actual problems in a timely fashion.Strategy evaluation is often an appraisal of performance. Strategists ask questions like: Have the firms assets increased? Has there been an increase in profitability? Has there been an increase in sales? Has there been an increase in productivity? Have profit margins, ROI, and EPS ratios increased?(http://www.socialresearchmethods.net/kb/intreval.php)

1.7 STRATEGY EVALUATION PROCESS AND ITS SIGNIFICANCEStrategy Evaluation is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results. The managers can also assess the appropriateness of the current strategy in todays dynamic world with socio-economic, political and technological innovations. Strategic Evaluation is the final phase of strategic management.

The significance of strategy evaluation lies in its capacity to co-ordinate the task performed by managers, groups, departments etc, through control of performance. Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc.The process of Strategy Evaluation consists of following steps-

1.8 FIXING BENCHMARK OF PERFORMANCE While fixing the benchmark, strategists encounter questions such as - what benchmarks to set, how to set them and how to express them. In order to determine the benchmark performance to be set, it is essential to discover the special requirements for performing the main task. The performance indicator that best identify and express the special requirements might then be determined to be used for evaluation. The organization can use both quantitative and qualitative criteria for comprehensive assessment of performance. Quantitative criteria includes determination of net profit, ROI, earning per share, cost of production, rate of employee turnover etc. Among the Qualitative factors are subjective evaluation of factors such as - skills and competencies, risk taking potential, flexibility etc.

1.9 MEASUREMENT OF PERFORMANCE The standard performance is a bench mark with which the actual performance is to be compared. The reporting and communication system help in measuring the performance. If appropriate means are available for measuring the performance and if the standards are set in the right manner, strategy evaluation becomes easier. But various factors such as managers contribution are difficult to measure. Similarly divisional performance is sometimes difficult to measure as compared to individual performance. Thus, variable objectives must be created against which measurement of performance can be done. The measurement must be done at right time else evaluation will not meet its purpose. For measuring the performance, financial statements like - balance sheet, profit and loss account must be prepared on an annual basis.Analyzing Variance - While measuring the actual performance and comparing it with standard performance there may be variances which must be analyzed. The strategists must mention the degree of tolerance limits between which the variance between actual and standard performance may be accepted. The positive deviation indicates a better performance but it is quite unusual exceeding the target always. The negative deviation is an issue of concern because it indicates a shortfall in performance. Thus in this case the strategists must discover the causes of deviation and must take corrective action to overcome it.

1.10 TAKING CORRECTIVE ACTION Once the deviation in performance is identified, it is essential to plan for a corrective action. If the performance is consistently less than the desired performance, the strategists must carry a detailed analysis of the factors responsible for such performance. If the strategists discover that the organizational potential does not match with the performance requirements, then the standards must be lowered. Another rare and drastic corrective action is reformulating the strategy which requires going back to the process of strategic management, reframing of plans according to new resource allocation trend and consequent means going to the beginning point of strategic management process.http://www.managementstudyguide.com/strategy-evaluation.htm

1.11 STRATEGIC EVALUATIONGlueck and Jauch have defined strategic evaluation as follows: Evaluation of strategy is that phase of the strategic management process in which the top managers determine whether their strategic choice as implemented is meeting the objectives of the enterprise.There are two aspects in this phase of strategic management: Evaluation which emphasizes measurement of results of a strategic action and Control which emphasizes on taking necessary actions in the light of gap that exists between intended results and actual results in the strategic action.

1.12 DIFFICULTIES IN STRATEGY EVALUATION Difficulty predicting future with accuracy Increasing number of variables Rate of obsolescence of plans Domestic and global events Decreasing time span for planning certainty

1.13 EVALUATION AND CONTROL PROCESSThis process ensures that the company achieves what it was set out to achieve. It compares actual with desired performance and provides feedback necessary for management to evaluate results and take corrective action where necessary. This process can be viewed in five steps Determine what to measure -this involves clarification of the aims to be achieved, i.e. the aims and objectives must be stated in clear terms that should include specific deadlines Establish standard of performance requires realistic measurement by which the degree and quality of goal achievement can be determined. Measure actual performance this should be an on-going repetitive process, actual frequency of measurement being dependent on the type of activity Comparing actual performance against standards this involves comparing measured results with established targets or standards previously set. Take corrective action if actual results fall outside the desired tolerance rang, action must be taken to rectify the deviation

Basic steps in the control process, adapted and modified from Mullins, L.J., Management and organizational behavior, 4th edition, London, Pitman Publishing, (http://www.jallc.nato.int/newsmedia/docs/A%20Framework%20for%20the%20Strategic%20Planning%20and%20Evolution%20of%20Public%20Diplomacy.pdf)

1.14 STRATEGIC AND OPERATIONAL CONTROL: A COMPARISONStrategic control is the process of taking into accounts the changing assumptions both external and internal to the organization on which a strategy is based, continually evaluating the strategy as it is being implemented and taking corrective actions to adjust strategy according to changing conditions or taking necessary actions to realign strategy implementation Are the premises made during the strategy formulation process proving to be correct?1. Is the strategy being implemented properly?2. Is there any need for change in the strategy? If yes, what is the type of change required to ensure strategic effectiveness?3. Operational control focuses on the results of strategic action and is aimed at evaluating the performance of the organization as a whole, different SBUs and other units.4. How is the organization performing?5. Are the organizational resources being utilized properly?What are the actions required to ensure the proper utilization of resources in order to meet organizational objectives?

1.15 TYPES OF ORGANIZATIONAL CONTROLSDepending on the stages at which control is exercised, it may be of three types: Control of inputs that are required in an action, known as feed forward control; Control at different stages of action process, known as concurrent, real-time, or steering control; and Post action control based on feedback from the completed action, known as feedback control.

(https://www.bja.gov/evaluation/guide/documents/evaluation_strategies.html)1.15.1 FEED-FORWARD CONTROLSSometimes called preliminary or preventive controls, attempt to identify and prevent deviations in the standards before they occur. Feed-forward controls focus on human, material, and financial resources within the organization. 1.15.2 CONCURRENT CONTROLSMonitor ongoing employee activity to ensure consistency with quality standards. These controls rely on performance standards, rules, and regulations for guiding employee tasks and behaviors. Their purpose is to ensure that work activities produce the desired results.

1.15.3 FEEDBACK CONTROLSInvolve reviewing information to determine whether performance meets established standards. For example, suppose that an organization establishes a goal of increasing its profit by 12 percent next year. To ensure that this goal is reached, the organization must monitor its profit on a monthly basis. After three months, if profit has increased by 3 percent, management might assume that plans are going according to schedule.

1.16 SOME CONTROL TECHNIQUES1.16.1 ACTIVITY-BASED COSTING(ABC) is a method used for the allocation of indirect and fixed cost to individual product lines based on the value-added activities going into that product. This method is useful in doing a value chain analysis of a firms activities for making outsourcing decisions.(http://captus.samhsa.gov/access-resources/using-process-evaluation-monitor-program-implementation)1.16.2 ENTERPRISE RISK MANAGEMENT (ERM) is an integrated process for managing the uncertainties that could negatively or positively influence the achievement of a corporations objectives. The process of rating risk involves the following1. Identify the risk using scenario analysis or brainstorming2. Rank the risk using some scale of impact and likelihood3. Measure the risk using some agreed upon standard

1.17 PRIMARY MEASURES OF CORPORATE PERFORMANCEThe days when simple financial measures such as ROI or EPS were used alone to assess the overall corporate performance are coming to an end. Analysts now recommend a broad range of methods to evaluate the success or failure of a strategy. Some of these methods are stakeholder measures, shareholder value and the balance scorecard approach.Traditional financial methods - these methods were used to measure corporate performance in terms of profit.

ROI EPS ROE Operating Cash flow Free cash flowStakeholder Measures top management should establish one or more simple stakeholder measures for each stakeholder category according to its own set of criteria Shareholder value This can be defined as the present value of anticipated future stream of cash flows from the business plus the value of the company, if liquidated. The New York consulting firm Stern Stewart & Company devised and popularized two shareholder value measures known as the Economic value Added (EVA) and the Market Value Added (MVA). The basic concepts of these are that businesses should not invest in projects unless they can generate profit above the cost of capital. Economic value added(EVA) is a performance measure developed byStern Stewart & Cothat attempts to measure the true economic profit produced by a company. It is frequently also referred to as "economic profit", and provides a measurement of a company's economic success (or failure)over a period of time. Market value added(MVA), on the other hand, is simply the difference between the current total market value of a company and the capital contributed by investors (including both shareholders and bondholders). MVA is not a performance metric like EVA, but instead is a wealth metric; measuring the level of value a company has accumulated over time. As a company performs well over time, it will retain earnings

Balanced ScorecardEvaluate strategies from 4 perspectives:1. Financial performance: how do we appear to shareholders?2. Customer knowledge: how do customers view us?3. Internal business processes: what must excel us?4. Learning & growth: Can we continue to improve and create value?

Besides, performance of people and performance according to stakeholders can be added.

Balanced scorecard(Chococam)

1.18 EVALUATING TOP MANAGEMENT & BOD Chairman-CEO Feedback Instrument using the 17-item questionnaire developed by Ram Charan. It focuses on Company performance Leadership of the organization Team building and management succession Leadership of external constituenciesManagement Audit is used to evaluate how management handle the various corporate activities such as Corporate social responsibilities Functional areas of the organization Strategic Audit provides a checklist of questions, by area or issue that enables a systematic analysis of various corporate functions and activities to be made.

It is useful as a diagnostic tool to pinpoint corporate-wide problemsDivisional & Functional PerformanceResponsibility Centers are used to isolate a unit so that it can be evaluated separately from the rest of the corporation Standard cost centers Revenue centers Expense centers Profit centers Investment centersUsing Benchmarking Continual process of measuring products, service, and practices against the toughest competitors or those companies recognized as industry leadersInternational Measurement Issues1. International transfer pricing2. Repatriation of profit3. PiracyStrategic Information Systems Enterprise Resource Planning (ERP) Divisional and functional IS supportProblems in Measuring Performance Short-term orientation Goal displacement Behavior substitution SuboptimizationGuidelines for Proper Control Minimum amount of information necessary Meaningful activities and results Timely Long and short-term Pinpointing exceptions Meeting/exceeding standards

Strategic Incentive Management Weighted-factor method Long-term evaluation method Strategic funds method(http://smallbusiness.chron.com/techniques-strategy-evaluation-47712.html)

CHAPTER NO. 2

CASE STUDY Of AA STRATEGIC EVALUATION APPROACHTO INCREASING THE VALUEAND EFFECT OF TRAININGINVIRTELLIGENCE INC.

1 Strategy evaluation methods and application

2.1 INTRODUCTIONThe problem and the solution. Despite the fact that effective human resource development (HRD) operations are vital to overall organization success, most organizations fail to evaluate the impact and return on training investments that they could and should. Traditional evaluation models and methods, with their focus on simply assessing the scope of trainings effect, do little to help reap greater performance and organizationalimpact from HRD and, in fact, can even undermine this purpose. This article argues that it is performance, not HRD,that achieves (or does not achieve) results, and thus impact evaluation must inquire more broadly into the performance management context. Consequently, the Success Case Method (SCM) is presented and discussed. The final portion of the article presents a case study derived from a recent SCM evaluation project for a major business client the demonstrates and illustrates the working of the method.In todays globally competitive changing market and constant technological advancement, training is a given. Doing training wellgetting results from learning investmentsis a must, not a choice. The pace of change persistently shortens the shelf life of employee capability. Organizations mustcontinuously help employees master new skills and capabilities. The central training challenge for organizations today is how to leverage learning consistently, quickly, and effectivelyinto improved performance. Responsibility for creating and maintaining performance improvement does not typically lie with any one individual or organization unit; rather, it is a diffuse responsibility shared among senior executives, line management, human resource development (HRD) professionals, and perhaps others such as quality engineers or internal consultants. This diffusion of responsibility poses a severe challenge for HRD professionals and especially for the task of evaluating HRD initiatives.

2.2 A WHOLE ORGANIZATION STRATEGY FOR EVALUATION OF TRAINING

Achieving performance results from training is a whole organization challenge. It cannot be accomplished by the training function alone. Despite this reality, virtually all training evaluation models are construed conceptually as if training were the object of the evaluation. Improving the quality and enjoyability of a wedding ceremony may reap some entertaining outcomes for wedding celebrants, but this may do little to create a sustained and constructive marriage. We in the HRD profession continue to rely on evaluationmethods and models that evaluate the wedding (a training program) when what we need is a more productive marriagesustained performance improvement that adds value. What is needed is evaluation of how well the organization uses training. This would focus inquiry on the larger process of training as it is integrated with performance management and would include those factors and actions that determine whether training is likely to work (get performance results) or not. Training alone operates only to increase capability. But whether employees perform to the best of their capability or at some level less than their best capability is driven by a complex host of factors, typically and popularlylumped together under the rubric of the performance management system (see, e.g., Rummler & Brache, 1995). Although these factors may not be organized or even viewed as a systemic entity, they nonetheless operate as a system, either suppressing or enhancing employee performance. Although there has not been enough research on precisely how these and other factors enhance and impinge on training effect, we do know enough to be certain there is more to achieving training effect than simply putting on good training programs. Tessmer and Richey (1997), in their summary of trainingeffect research, demonstrate convincingly that training effectdefined as improved performanceis a function of learner factors, factors in the learners workplace, general organizational factors, and of course, factors inherent in the training program and interaction itself. This interdependence of training on the larger performance system has been amply supported as well by the previous and thorough research of Tannenbaum and Yukl (1992). It would be very convenient if training were the sort of mythical magic bullet that trainers and managers might wish. How nice it would be if the typical practice followed in organizations would really work. Then all that would be needed is to build or buy good training programs, schedule and encourage employees to participate in them, and all would be well. Although this is indeed the way that many organizations go about training operations, it just does not work this way. When training is simply delivered as a separate intervention, such as a stand-alone program or seminar, it does little to change job performance. Most research on HRD shows that the typical organizational training program achieves, on average, about a 10% success rate when success would be defined as training having contributed to improved individual and organizational performance (e.g., Baldwin & Ford, 1988; Tannenbaum & Yukl, 1992). That is, for every 100 employees who participate in training programs, about 10 of them will change their jobperformance in any sustained and worthwhile way. Unless one is going to be satisfied with continuing to let nearly 90% of ones training resources go to waste, then some sort of new approach is needed Organizations that are serious about achieving better results from training not only must work to improve the quality and convenience of training(or to reduce the costs of ineffective training by putting it all into online formats) but must work on the entire training-to-performance process, specifically on those nontraining factors of the performance management system that bear on whether training-produced skills get used in improved individual and business performance. Working on the entire process means involving all the players: employees, training leaders, the line managers of learners, and senior leadership. What is needed is an evaluation approach that isbased originally and principally on the reality that training effect is a whole-organization responsibility. Providing feedback to the HRD department or function is partially useful and cannot be the sole focus of evaluation. Other players in the organization should be involved in the process to make training work.An evaluation framework that responds to this whole-organization challengeshould focus on three primary questions:1. How well is our organization using learning to drive needed performanceimprovement?2. What is our organization doing that facilitates performance improvementfrom learning? What needs to be maintained and strengthened?3. What is our organization doing, or not doing, that impedes performanceimprovement from learning? What needs to change?These key questions should be embedded in an evaluation strategy with theoverall purpose of building organizational capability to increase the performanceand business value of training investments. This strategy is essentially anorganizational learning approach aligned with the overall training mission,which is likewise to build organizational capability through learning. Implementingthis evaluation strategy requires that evaluation focus on factors in thelarger learning-performance process to engage and provide feedback to severalaudiences.

Figure 1 shows that evaluation inquiry is focused on the entire learning performanceprocess, from identification of needs, to selection of learners,to engagement in learning, to the transfer of learning into workplace performance.Evaluation findings and conclusions are provided to the owners of the effect factors unearthed by the evaluation. The owners are encouraged to take action to nurture and sustain things that are working and to change things that are not. The ultimate goal of this evaluation inquiry is the development of the organizations learning capability its capacity to manage learningresources and leverage them into continuously improved performance.The final portion of the figure reminds us that evaluation has a clear andconstructive purpose. It is not self-serving and not defensive. Neither is itsolely for the benefit of the HRD function. Like learning and performanceservices themselves, evaluation should be another tool to improve performanceand business results. This also reminds us that the line managementside of the organization and the HRD function jointly share responsibilityand leverage for this capability. Neither party alone can assure success, norcan either alone take credit. The performance improvement process haslearning at its heart, but learning and performance are inseparable. Learning

enables performance, and performance enables learning. Evaluation of training, when embedded in a coherent and constructive strategic framework like the one presented, is an effective tool for organizational learning and capability building. It not only is consistent with the concept of shared ownership but is also a method for achieving and strengthening partnership.22 Strategy evaluation methods and application

CHAPTER NO. 3SWOT ANALYSIS

3.1 STRENGTHS Strategy Evaluation is as significant as strategy formulation because it throws light on the efficiency and effectiveness of the comprehensive plans in achieving the desired results. The managers can also assess the appropriateness of the current strategy in todays dynamic world with socio-economic, political and technological innovations. Strategic Evaluation is the final phase of strategic management. Strategic Evaluation is significant because of various factors such as - developing inputs for new strategic planning, the urge for feedback, appraisal and reward, development of the strategic management process, judging the validity of strategic choice etc.

3.2 WEAKNESSES Even if one part of strategy is missing it will affect the whole strategic plane Also if it is not implemented accordingly, then there is no use of administering the strategic plan.

3.3 OPPORTUNITIES Evaluation of strategy is that phase of the strategic management process in which the top managers determine whether their strategic choice as implemented is meeting the objectives of the enterprise.

3.3 THREATS If the strategy is not being implemented properly it will impose negetive effect on overall strategic plan as in chain effect. If there any need for change in the strategy, then the type of change required to ensure strategic effectiveness is adopted and if not then it will be a collpsing threat to a strategy

CONCLUSIONThe final step in the strategic management process is evaluating results. Managers must evaluate the results to determine how effective their strategies have been and what corrections are necessary. All strategies are subject to future modification because internal and external factors are constantly changing

RECOMMENDATIONThe Strategy evaluation methods assesses the effect of training by looking intentionally for the very best that training is producing. When these instances are found, they are carefully and objectively analyzed, seeking hard and corroborated evidence to irrefutably document the application and result of the training. Further, there must be adequate evidence that it was the application of the trainingthat led to a valued outcome. If this cannot be verified, it does not qualifyas a success case. Almost always, an Strategy evaluation methods study turns up at least some very worthwhile applications of training that lead to valuable results worth well more than the cost of the training. Equally often, however, there are large numbers of participants who did not experience such positive results. These stories become rich ground for digging into underlying reasons. When the impediments to effect are compared to the factors that facilitated effect, a coherentpattern typically emerges, leading directly to obvious changes in the trainingand performance environment that, if they were changed, could lead togreater effect. That is, because we know from the success cases what thetraining effect is worth when it happens, we can make an economic argumentfor what it would be worth to get more effect and thus compare this tothe costs of what it would takein terms of changes to related systems andfactorsto get that enhanced effect. In this way, an Strategy evaluation methods study opens the door to performance consulting, giving the HRD practitioner greater strategic access and leverage to make a difference while at the same time helping clients build their capability to get more effect and return on their traininginvestments.

Bibliographyhttp://captus.samhsa.gov/access-resources/using-process-evaluation-monitor-program-implementation. (n.d.). http://captus.samhsa.gov/access-resources/using-process-evaluation-monitor-program-implementation.http://en.wikipedia.org/wiki/Strategy. (n.d.). http://en.wikipedia.org/wiki/Strategy.http://smallbusiness.chron.com/techniques-strategy-evaluation-47712.html. (n.d.). http://smallbusiness.chron.com/techniques-strategy-evaluation-47712.html.http://www.introduction-to-management.24xls.com/en224. (n.d.). http://www.introduction-to-management.24xls.com/en224.http://www.jallc.nato.int/newsmedia/docs/A%20Framework%20for%20the%20Strategic%20Planning%20and%20Evolution%20of%20Public%20Diplomacy.pdf. (n.d.). http://www.jallc.nato.int/newsmedia/docs/A%20Framework%20for%20the%20Strategic%20Planning%20and%20Evolution%20of%20Public%20Diplomacy.pdf.http://www.managementstudyguide.com/strategy-evaluation.htm. (n.d.). http://www.managementstudyguide.com/strategy-evaluation.htm.http://www.socialresearchmethods.net/kb/intreval.php. (n.d.). http://www.socialresearchmethods.net/kb/intreval.php.https://www.bja.gov/evaluation/guide/documents/evaluation_strategies.html. (n.d.). https://www.bja.gov/evaluation/guide/documents/evaluation_strategies.html.

27 Strategy evaluation methods and application