Final answer:
The given statement, "Strategic control is the process of determining if the strategy is successful and, where appropriate, taking corrective action," is true (T) because strategic control involves assessing the success of a strategy and making adjustments if necessary to ensure it aligns with organizational goals and market conditions.
Step-by-step explanation:
Strategic control serves as a critical mechanism in the strategic management process. It involves regularly evaluating whether the strategy is achieving its intended objectives. This evaluation encompasses various elements such as examining performance against set benchmarks or KPIs, comparing actual outcomes with planned results, and analyzing any discrepancies. If the strategy isn't meeting its targets or if external factors shift, corrective actions are initiated.
These actions could involve altering tactics, reallocating resources, or even modifying the strategy itself to ensure it remains relevant and effective. In essence, strategic control isn't just about gauging success but actively steering the strategy in the right direction. It's a dynamic process that enables organizations to adapt to changes and optimize their strategies for continued success.
Correct Answer: True (T)
Complete question:
- True or false? Strategic control is the process of determining if the strategy is successful and, where appropriate, taking corrective action.