Question

IN Strategic-Management Model EXPLAIN

• Measure and Evaluate Performance
• Business Ethics, Social Responsibility, and Environmental Sustainability
• Global/International Issues

Answer 1

1.

In  the given model, the step of measure and evaluate performance is one of the most important step. Under this step, the performance of the strategic implementation is measured in terms of the different metrics identified already in the model. These metrics, can be the market share %, revenue gained for a particular period and organizational productivity among the others. The measured performance of the strategic implementation is evaluated when the actual performance is compared with the planned pr benchmark performance level. On the basis of this evaluation, the corrective action may be taken and management can bring modifications in the strategic management process to make it more effective. So, it is the measured and evaluate performance stage, that checks and controls the performance level of the strategic management initiatives.

2.

Business ethics, social responsibility and environmental sustainability are interconnected to each other and play an important role for the organization. Here, the business ethics helps organization create value for the different stakeholders while implementing best corporate governance practices. To execute the business ethics, the one approach is to fulfill its social responsibility toward the society and  community development.  In this regard, the organization launches different community development projects such as health and hygiene, clean water and or education to children for the community. These initiatives lead to conservation of the environment as well as, puts the organization to achieve environmental sustainability when the organization pushes other value chain partners to pursue the same strategy. It makes organization to slowly and progressively achieve the environmental sustainability. It all starts with the business ethics that is considered when the strategic management model is developed.

3.

Global issues are identified when the organization expands into the overseas market and or threats come from outside due to the country moving ahead with the globalization drive and build free trade agreements with other nations. Hence, it is important to consider the global issues such as dumping of the products at predatory prices by the other nations such as China, Forex risk and regulatory issues, not standardized in different market. Hence, while pursing strategic management, the global issues are also given due consideration to help organization cope with these challenges.