- What are the five P’s of strategy?
- What are the three major phases of strategic control?
- What are the three types of control?
- What are the 7 principles of internal control?
- What is the process of strategic control?
- What are the types of strategic control?
- What are three components of a control system?
- What are the 9 common internal controls?
- What is strategy with example?
- What are the five 5 factors that support strategy implementation?
- What are the techniques of strategic evaluation?
- What are the four types of strategy?
- What is the first step in a control process?
- What are the five strategies?
- What are control techniques?
- What is a strategic control system?
- What are two types of control strategies?
- What are the four key areas of control?
What are the five P’s of strategy?
Each of the 5 Ps stands for a different approach to strategy:Plan.Ploy.Pattern.Position.Perspective..
What are the three major phases of strategic control?
There are three basic steps to strategic control process: measurement organizational performance, comparing organizational performance to goals and standards, and taking corrective action.
What are the three types of control?
Three basic types of control systems are available to executives: (1) output control, (2) behavioural control, and (3) clan control. Different organizations emphasize different types of control, but most organizations use a mix of all three types.
What are the 7 principles of internal control?
The seven internal control procedures are separation of duties, access controls, physical audits, standardized documentation, trial balances, periodic reconciliations, and approval authority.
What is the process of strategic control?
Strategic controls take into account the changing assumptions that determine a strategy, continually evaluate the strategy as it is being implemented, and take the necessary steps to adjust the strategy to the new requirements.
What are the types of strategic control?
Types of strategic controlPremise control. Premise control is designed to check systematically and continuously whether the premises on which the strategy is based are still valid. … Strategic surveillance. … Special alert control. … Implementation control.
What are three components of a control system?
The constitution of a closed-loop control system is discussed in chapter 1; the basic system is defined in terms of three elements, the error detector, the controller and the output element.
What are the 9 common internal controls?
internal accounting controls include:Separation of Duties. … Access Controls. … Required Approvals. … Asset Audits. … Templates. … Trial Balances. … Reconciliations. … Data Backups.
What is strategy with example?
So, for example, your marketing strategies would look at price, distribution, product, packaging, and promotion. There might be a specific strategy for each. HR management will have a set of strategies too. These could include recruitment, retrenchment, remuneration strategy, or training strategy.
What are the five 5 factors that support strategy implementation?
The 5 factors you need to successfully implement your strategyCommitment. Commitment starts at the top but it must not end there. … Ability and willingness to change. Strategy implementation requires change. … An organizational structure that supports the strategy. … Ability to measure progress. … A clear understanding of priorities.
What are the techniques of strategic evaluation?
Techniques for evaluating the effectiveness of a company’s strategy include evaluating internal and external forces that influence strategy execution, measuring company performance and determining appropriate corrective measures.
What are the four types of strategy?
4 Levels of Strategy-Making / 4 Types of Strategic AlternativesCorporate level strategy.Business level strategy.Functional level strategy.Operational level strategy.
What is the first step in a control process?
The control function can be viewed as a five-step process: (1) Establish standards, (2) Measure performance, (3) Compare actual performance with standards and identify any deviations, (4) Determine the reason for deviations, and (5) Take corrective action, if needed.
What are the five strategies?
About the five strategiesEngaging and empowering people. … Strengthening governance and accountability. … Reorienting the model of care. … Coordinating services. … Creating an enabling environment.
What are control techniques?
Control techniques provide managers with the type and amount of information they need to measure and monitor performance. … Managers use these financial statements, such as an income statement or balance sheet, to monitor the progress of programs and plans.
What is a strategic control system?
Strategic control is the process used by organizations to control the formation and execution of strategic plans; it is a specialised form of management control, and differs from other forms of management control (in particular from operational control) in respects of its need to handle uncertainty and ambiguity at …
What are two types of control strategies?
Strategic controls help you do this by analyzing your company and its ability to maximize its strengths and opportunities. The four types of strategic control are premise control, implementation control, special alert control and strategic surveillance.
What are the four key areas of control?
4 Steps of Control Process are;Establishing standards and methods for measuring performance.Measuring performance.Determining whether performance matches the standard.Taking corrective action.