Evaluation and control are essential components of the management planning process, ensuring that an organization's strategic objectives are achieved efficiently and effectively. Evaluation involves assessing the performance and progress of the organization in relation to its strategic goals. It often requires the establishment of key performance indicators (KPIs) and benchmarks to measure success. Managers use various tools and methods to gather data, analyze results, and identify areas where the organization is succeeding or falling short.
Control, on the other hand, involves taking corrective actions based on the evaluation results. It's about making adjustments to the plans and strategies to ensure that the organization stays on course. Effective control mechanisms help in identifying deviations from the plan and taking timely corrective actions to mitigate any negative impacts.
The key difference between a strategic plan and a management plan lies in their scope and focus. A strategic plan outlines an organization's long-term vision, mission, and objectives. It sets the direction and goals for the entire organization, typically covering a timeframe of three to five years or more. In contrast, a management plan is more operational and short-term in nature. It breaks down the strategic plan into specific actions, assigns responsibilities, and sets timelines for achieving objectives. Management plans provide the day-to-day guidance needed to execute the broader strategic vision effectively. Together, these plans form a hierarchy that guides an organization from its long-term aspirations to its daily activities, ensuring alignment and progress towards its goals.