The conversation between human and AI assistant.
What is the importance of the four phases of strategic management?
And finally, can you tell me about the fourth phase, strategy evaluation?
Strategy evaluation is the process of assessing the effectiveness of the strategy and making any necessary adjustments. This involves measuring progress and comparing it to the goals set in the strategy formulation phase. It is important because it helps the organization to learn from its experience and improve its planning and implementation processes in the future.