Question

Why do you think it is important for an organization to continually monitor their progress? How would you make adjustments when you notice something isn’t working? What impact could it have on the organization if you don’t make the changes immediately?

Answer 1

Answer: Business environment is always volatile and unpredictable. Organization develops plans and strategies for achieving their goals and objectives but due to the volatile and unpredictable nature of the business environment these plans and strategies do not perform as intended. It is because of this reason that the companies need to constantly monitor their progress. If they do not do so then they may not be aware about the deviation in progress of their goals and objectives.

When it is found that something is not working, then it is required to call a meeting of all the relevant stakeholders. The issue should be discussed and loopholes should be identified. Based on this analysis a new course of action needs to be developed.

If the changes are not made immediately then it is most likely that the plans and strategies of the company may not work and the final goals and objectives may not be achieved. Often it is found that if the plans and strategies are not modified timely then later it is very difficult to modify them and save the loss from occurring.