References:Allen, Leslie, J. Jan 28, 2008. ProQuest. Automotive News: U.S. entering green-technology race. Vol. 82, Iss. 6292; pg. 36, 1 pgsBailey, David. March, 2008. March Auto Sales Drop, GM Off 13 Percent. Viewed online 4/14/08 http://www.bnet.com/2407-14029_23-194921.htmlControls and Evaluation:"Strategic control is concerned with tracking a strategy as it is being implemented, detectingproblems or changes in its underlying premises, and making necessary adjustments." (PearceÃ¢ÂÂRobinson, p. 107) This will require that GM develop a Portfolio plan consisting of thrusts that link back to the vision and mission. Projects within each thrust should only be approved if they can be linked back to one of the objectives or goals. Pearce and Robinson state that managers responsible for success of a strategy are concerned with two sets of questions.
1."Are we moving in the proper direction? Are key things falling into place? Are our assumptions about major trends and changes correct? Are we doing the critical things that need to be done? Should we adjust or abort the strategy?2.
How are we performing? Are objectives and schedules being met? Are costs, revenues, and cash flows matching projections? Do we need to make operational changes?" (PearceÃ¢ÂÂRobinson)Key management personnel will need to track performance against the overall initiatives, and monitor direction to ensure that all the milestones are met during the planning process. Major internal and external environmental changes make occur, and GM strategic planners need to have mitigation plans put in place to meet those challenges. Strategic Plans today may not out of date next year due to technology advances. GM's ability to modify the plan as required will be essential in meeting corporate objectives.
Not only is it critical to monitor and evaluate the performance of the strategic plan, objectives, and goals, but it is also important to measure the success of the plan and...