Strategic Planning and Implementation (AQA A-Level Business): Flashcards

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Evaluating Strategy
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Evaluating strategy means

Assessing how well strategy performs & helps achieve objectives

Continuous monitoring & review

Regularly checking strategy progress throughout implementation

Strategic drift occurs when

Strategy becomes less suitable due to external changes

Market analysis tests

Whether initial assumptions about the market were accurate

Primary market research is

Collecting new data directly from customers

Secondary market research is

Analysing existing data from reports and statistics

Management information systems

Computer systems that collect & process departmental data

Enterprise Resource Planning (ERP)

Integrated systems connecting different departments

Extrapolating trends means

Projecting current patterns into the future

Why monitor competitive environment?

To spot external factors causing strategic drift early

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