In business, strategy evaluation allows a company to determine whether the business strategy it has chosen is the right one. It involves looking at all aspects of the business, from customer needs and wants to competitor threats and opportunities, and then comparing these findings with the organization’s goals.
There are many ways to create and implement a strategy on an individual level. There are also many ways to measure its effectiveness. The most important piece of this process, however, is to continue making progress toward one’s goals. When MBA students find themselves stuck in a rut, it’s time to take a step back to see where they went wrong.
Strategy evaluation can benefit MBA students because it helps them form an action plan to achieve long-term goals. Without evaluating progress and goals, it’s impossible for students to gain a clear idea of how far ahead or behind they are in terms of academic achievements.
Evaluation also ensures that students’ choices are helping them achieve their goals and reach academic success.