15

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Fakultas
FEB

Program Studi
AKUNTANSI

EVALUASI STRATEGI
Dr. Mirza, ST,MM
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Chapter Outline
The Nature of Strategy Evaluation
A Strategy-Evaluation Framework
Published Sources of StrategyEvaluation Information
Fred R. David

Ch 9-2

Chapter Outline
Characteristics of an Effective
Evaluation System
Contingency Planning
Auditing
Fred R. David

Ch 9-3

Chapter Outline
Using Computers to Evaluate
Strategy
Guidelines for Effective Strategic
Management

Fred R. David

Ch 9-4

Implementing Strategies

Organizations are most vulnerable

when they are at the peak of their
success.
-- R.T. Lenz

Fred R. David

Ch 9-5

Strategy Review,
Evaluation & Control
Systematic Review, Evaluation &
Control
Strategies become obsolete
Internal environments are dynamic
External environments are dynamic

Fred R. David

Ch 9-6

Strategy Evaluation
Strategy evaluation is vital to the
organizations well-being
Alert management to potential or actual
problems in a timely fashion
Erroneous strategic decisions can have
severe negative impact on organizations
Fred R. David

Ch 9-7

Strategy Evaluation
3 Basic Activities
1. Examining the underlying bases of a
firms strategy
2. Comparing expected to actual results
3. Corrective actions to ensure
performance conforms to plans

Fred R. David

Ch 9-8

Strategy Evaluation
Strategy evaluation
Complex and sensitive undertaking
Overemphasis can be costly and
counterproductive

Fred R. David

Ch 9-9

Strategy Evaluation
In many organizations, evaluation is
an appraisal of performance

Have assets increased?

Increase in profitability?
Increase in sales?
Increase in productivity?
Profit margins, ROI and EPS ratios
increased?
Fred R. David

Ch 9-10

Strategy Evaluation
Four Criteria (Richard Rummelt):
Consistency
Consonance
Feasibility
Advantage

Fred R. David

Ch 9-11

Rummelts Criteria
Consistency
Strategy should not present
inconsistent goals and policies.
Conflict and interdepartmental bickering
symptomatic of managerial disorder and
strategic inconsistency
Fred R. David

Ch 9-12

Rummelts Criteria
Consonance
Need for strategies to examine sets of
trends
Adaptive response to external environment
Trends are results of interactions among
other trends
Fred R. David

Ch 9-13

Rummelts Criteria
Feasibility
Neither overtax resources or create
unsolvable subproblems
Organizations must demonstrate the
abilities, competencies, skills and talents
to carry out a given strategy
Fred R. David

Ch 9-14

Rummelts Criteria
Advantage
Creation or maintenance of
competitive advantage
Superiority in resources, skills, or
position
Fred R. David

Ch 9-15

Strategy Evaluation
Difficulty in strategy evaluation
1. Increase in environments
complexity
2. Difficulty predicting future with
accuracy
3. Increasing number of variables
Fred R. David

Ch 9-16

Strategy Evaluation
Difficulty in strategy evaluation
4. Rate of obsolescence of plans
5. Domestic and global events
6. Decreasing time span for
planning certainty
Fred R. David

Ch 9-17

Process of Strategy
Evaluation
Strategy evaluation should
Initiative managerial questioning
Trigger review of objectives and
values
Stimulate creativity in
generating alternatives
Fred R. David

Ch 9-18

Reviewing Bases of Strategy

Review of underlying bases of
strategy
Develop revised EFE Matrix
Develop revised IFE Matrix

Fred R. David

Ch 9-19

Reviewing Bases of Strategy

Review effectiveness of strategy
1. Competitors reaction to strategy
2. Competitors change in strategy
3. Competitors changes in strengths and
weaknesses
4. Reasons for competitors strategic
change
Fred R. David

Ch 9-20

Reviewing Bases of Strategy

Review effectiveness of strategy
5. Reasons for competitors successful
strategies
6. Competitors present market positions
and profitability
7. Potential for competitor retaliation
8. Potential for cooperation with
competitors
Fred R. David

Ch 9-21

Reviewing Bases of Strategy

Monitor Threats and Opportunities and
Weaknesses and Strengths

Are our internal strengths still

strengths?
Have we added additional strengths?
Are our weaknesses still weaknesses?
Have we other internal weaknesses?
Fred R. David

Ch 9-22

Reviewing Bases of Strategy

Monitor Threats and Opportunities and
Weaknesses and Strengths

Are opportunities still opportunities?

Other external opportunities?
Are threats still threats?
Are there other threats?
Are we vulnerable to a hostile takeover?
Fred R. David

Ch 9-23

I. Review Underlying Bases

Evaluation Framework

Yes

Differences?

NO
II. Measure Firm Performance

III.
Take
Corrective
Actions

Yes

Differences?

NO
Continue present course

Fred R. David

Ch 9-24

Measuring Organizational
Performance

Comparing expected to actual

results
Investigating deviations from plan
Evaluating individual performance
Progress toward stated objectives

Fred R. David

Ch 9-25

Measuring Organizational
Performance

Quantitative criteria for strategy

evaluation
Financial Ratios:

Compare performance over different

periods
Compare performance to competitors
Compare performance to industry
averages
Ch 9-26
Fred R. David

Measuring Organizational
Performance
Key Financial Ratios

Return on investment
Return on equity
Profit margin
Market share

Fred R. David

Ch 9-27

Measuring Organizational
Performance
Key Financial Ratios

Debt to equity
Earnings per share
Sales growth
Asset growth

Fred R. David

Ch 9-28

Measuring Organizational
Performance
Qualitative evaluation of strategy Internal consistency of strategy
Consistency of strategy with
environment
Strategy appropriate in view of
resources
Acceptable degree of risk
Appropriate time frame
Workability of the strategy
Ch 9-29
Fred R. David

Characteristics of Evaluation
Basic requirements for effective
strategy evaluation

Economical
Meaningful
Generate useful information
Timely information
Provide a true picture of what is
happening
Fred R. David

Ch 9-30

Strategy-Evaluation Assessment Matrix

Have major
changes
occurred in
the firms
internal
strategic
position?

Have major
changes
occurred in
the firms
external
strategic
position?

No

No

No

Corrective actions

Yes

Yes

Yes

Corrective actions

Yes

Yes

No

Corrective actions

Yes

No

Yes

Corrective actions

Yes

No

No

Corrective actions

No

Yes

Yes

Corrective actions

No

Yes

No

Corrective actions

No

No

Yes

Continue course

Has the firm

progressed
satisfactorily
toward achieving
its stated
objectives?

Fred R. David

Result

Ch 9-31

Contingency Planning

Premise of sound strategic

management
Planning to deal with unfavorable and
favorable events before they occur.

Fred R. David

Ch 9-32

Contingency Planning

Contingency Planning
Alternative plans that can be put into
effect if certain key events do not
occur as expected

Fred R. David

Ch 9-33

Auditing

Financial audits to determine

correspondence between assertions
based on strategic plans and
established criteria

Environmental audits to insure

sound and safe practices
Fred R. David

Ch 9-34

Key Terms

Advantage
Auditing
Consistency
Consonance
Contingency Plans
Corporate Agility
Feasibility
Fred R. David

Ch 9-35

Key Terms

Future Shock
Management by Wandering Around
Measuring Organizational
Performance
Planning Process Audit (PPA)
Reviewing the Underlying Bases of
an Organizations Strategy
Fred R. David

Ch 9-36

Key Terms

Revised EFE Matrix

Revised IFE Matrix
Taking Corrective Actions

Fred R. David

Ch 9-37

Terima Kasih
Dr.Mirza, ST,MM