Evaluation and management of implementation

Generic Strategy Map demonstrating four balanced scorecard elements

Once the strategy has been decided, several goals and measures may be established in order to set a path for the
company, monitor performance, and manage the plan's execution. By tying important metrics of success and
performance to the strategy, tools such as the balanced scorecard and strategy maps aid in crystallizing the plan.
To provide a "balanced" perspective, these instruments assess financial, marketing, production, organizational
development, and innovation metrics. Information technology and data availability advancements enable the
collection of more performance data, allowing managers to take a far more analytical picture of their firm than
in the past.

A strategy may alternatively be structured as a succession of "initiatives" or "programs" that each consist of one
or more projects. Various monitoring and feedback methods, such as frequent meetings between divisional and
corporate management to oversee execution, may also be implemented.

Evaluation
Evaluation is a crucial component of strategic management that is sometimes forgotten during planning. Robert
Stake's Responsive Evaluation is one approach for determining whether or not strategic aims and plans have
been attained. [62] Responsive assessment is a realistic and humanistic method for evaluating programs. In
contrast to goal-oriented or pre-determined evaluation designs, responsive evaluation takes into account the
program's background (history), circumstances, and stakeholder interactions. It is essentially emergent; the
design emerges when stakeholders are contacted.