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Comment Linkages If there are linkages between businesses in a group, the formality of the process should be low, to avoid co-operation being undermined. Diversity If there is a great deal of diversity, it is doubtful whether any overall strategic control system is appropriate, especially if the critical success factors for each business are different. Criticality Firms whose strategic stance depends on decisions which can, if they go wrong, destroy the company as a whole (eg launching a new technology) need strategic control systems which, whether formal or informal, have a large number of milestones so that emerging problems in any area will be easily and quickly detected.
The importance of non-financial performance – and the company's strategic focus on achieving greater loyalty from customers in the new, multichannel world of retail – is also reiterated in Tesco's key performance indicators. It has five customer-focused KPIs. com (a) (b) (c) (d) (e) (f) (g) ial In turn, Tesco has identified seven key 'enablers' which it believes will enable it to carry out these core activities more effectively, and therefore to increase sales and customer loyalty. com Number of new loyal customers as a percentage of last year's loyal customer base (c) Percentage of customers shopping across different channels: the percentage of loyal customers who have shopped across two or more channels in the last quarter (d) Percentage of customers shopping across the brand: the percentage of loyal customers who have bought (or held) non-food products, eg bank, telecoms or clothing (e) Customer advocacy: while the first four KPIs are functional measures, the final one recognises the importance of customers engaging with the business, and promoting/recommending it to others.
Control can focus on perhaps market share or quality. Businesses with many sources of competitive advantage. Success over a wider number of areas is necessary and the firm should not just concentrate on one of them. 1 Desirable features of strategic performance measures Comment Focus attention on what matters in the long term Shareholder wealth? 7 Budgeting ter Measurable Meaningful Defined by the strategy and relevant to it Consistently measured Re-evaluated regularly Acceptable to stakeholders ym a Another vital control mechanism within organisations, and a key way of linking strategy to operations, is budgeting.