MBA Strategic Management for Stakeholders- MyAssignmenthelp.com

Question: Discuss about theMBA Strategic Management for Stakeholders. Answer: According to Johnson et al. (2013), success of corporate strategy can be evaluated against the three criteria of suitability, feasibility and acceptability. I agree with this evaluation criteria because it supports rational decision making and helps to analyze the strategic position of the company in relation to the strategy. With this form of evaluation, decision maker can evaluate the preparedness of the organization to achieve the strategy. While evaluating strategies, suitability means deciding the overall rational of strategy based on the strategic position of organization and identify whether the strategy has economic implications for business. The feasibility criteria help the decision maker to assess whether they have the right resource to implement the strategy. This helps to determine the feasibility of the strategy. Finally as business goal and expected performance outcome is dependent on the stakeholders of the organization, evaluating the acceptability of the strategy is essential to align the stakeholders towards the attainment of business goals (Rumelt 2017). Hence, on the whole, it can be said that the three evaluation criteria helps the decision maker to identify the optimal strategic choice for the company. Despite the benefits of the three evaluation criteria for strategic choice, this criteria has certain limitations too. Although these evaluation criteria are closely associated with the distribution of power and authority for strategy formulation, however the success is not determined by this intellectual process. Evaluation is a continuing process which relied not just on this evaluation criteria, but also on the whole organizational process (Rumelt 2017). Reference Johnson G, Whittington R, Scholes K, Angwin D and Regnr P 2013 Exploring Strategy (10th edition) Pearson Harlow: Rumelt, R. 2017.The evaluation of business strategy. [online] Available at: https://teaching.up.edu/bus580/bps/Rumelt,%20evaluation%20of%20a%20business%20strategy.PDF [Accessed 21 May 2017].