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Challenges of strategy implementation
Describe the process of strategic plans
Challenges of strategy implementation
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Strategic Implementation is needed for a company to successfully form and execute the company business strategy. Strategic Implementation helps the company thrive and bring in the necessary revenue to keep customers and bring in new customers. Strategic Implementation is a lot of hard work but very worth the effort to the company. Sometimes the hardest part of the process is coming up with an entire plan that is geared towards helping the company in all operations of the business. Sometimes it is not always the brainstorming of strategic implementation that is hard to brainstorm the planning and activities to get the business to grow. All members of management must look at the plan as it the primary concern of the business development process. …show more content…
They first can create an outline of the company goals and purposes that can help the staff and all members of the team understand the process and way the plan is important. This is where the company should allow the staff to ask questions and get clarification of what will be expected of them and ways they can meet the goal. Second, they explain to the staff the second plan that they feel could serve as a backup, should things not go as planned. This is a safety procedure for the success of the business. It helps protect the company assets and revenue. Third, they can create sales measures to determine the progress of the plan and how they plan to make sure the plan follows through the necessary steps. It will be put in place as a guideline for staff members to know when the procedures should be completed. An effective way to improve the strategy is by making sure the strategy is in the correct order to achieve the desired results. The procedure must flow in order to make sense to the staff that ultimately does the work of setting it in place. Fourth, it’s important the company reviews the staff progress of fulfilling the strategy. This is important because this allows the members of the staff to determine whether things are headed in the right direction and if not what steps they should take to turn things
For any organization, planning, the first step in the four management functions, is very significant to reach success. During the planning process, organizations establish goals for expectations on performance and then decide on how to reach that specific goal. For example, increasing sales each year is Pacsun's year long goal. The stores keep all of their sales reports, return logs, and exchange records for each day, so when that same business day comes around again the following year, each store knows exactly how many sales they need to have to increase sales for the current year. They also keep track of each store's average dollar amount per sale and how many units are being sold through each transact...
Once the strategy for the organization is clear, the next step in the strategic plan is to begin implementation of the plan. Implementation has five parts that include identification of the short-term objectives, initiation of specific functional tactics, outsourcing of nonessential functions, communication of policies that will empower the organizations individuals, and effective system of rewards.
For any strategic plan to be successful there should be effective communication between the management and the employees. The department heads and managers should communicate to their subordinates the significance of their input in the development of the strategic plan for the company.The management should engage the staff in all the phases of the strategic plan as their perspective is valuable to the company. Employees will then be allowed to offer their input through different platforms, such as focus groups, surveys or questionnaires. This communication and engagement within the organization will give the management a clear picture of the strengths and weaknesses of the company. For the strategic plan to be successful, both the management and the employees of the company should be involved in the implementation process.
We must now execute the strategy. Companies tend to lose productivity when they are not familiar with their purpose of their work and the strategy for achieving their goals and unleashing their maximum potential” (Howarth 29). The third discipline in strategic thinking is Action. Howarth describes Action as implementing a system to guarantee effective execution of strategy at all levels of your organization. He proposes the strategy formula to ensure that managers have a framework to communicate the strategy to their subordinates. The strategy formula guides the process of “channeling strategy from mind to paper” (Howarth 129). There are four components to the strategy formula; what + how + who + impact 1) What: The activity representing the purpose of the strategy 2) How: The general means or method of accomplishing the strategy 3) Who: The audience the strategy is defined to reach and 4) Impact: the desired result of developing and executing the strategy. I feel this is a method that should be implemented in all organizations. I would use this method in my company by ensuring every employee has a copy of the company’s strategy formula. It would be displayed in various areas in the company and I would make a pocket sized card with the information as well. I will constantly question employees to make sure they are familiar with the company’s strategy. The goal is to make everyone acquainted with the company’s strategy and how we plan on going from our current state to a future desired
Most of the common activities in our daily life present an opportunity to negotiate, whether or not we realise it. Meta-reflecting upon my negotiation experiences during the class and other activities have led me to identify few common themes. In this assignment, the two themes I will be discussing are (1) the importance of being clear on the strategic intent and big picture thinking, and (2) the importance of managing the negotiation process through understanding the various phases and visualising negotiation as a train journey.
According to Craig Raucher, there are four basic steps to proper strategic planning. First and foremost, a business leader must analyze and assess the current standings of the business. Once the analysis is complete, the next step is to formulate and document a strategy to improve upon the framework of the business. Step three involves placing the plan into action, followed by the final phase, where a business leader examines the results of the
The Strategic management is help to accomplish the goals and intention for organizations recourses and future plans by following the important elements, which are planning, controlling, analyzing by study both internal and external strengths and weaknesses.
Strategic management is the ongoing process of ensuring a competitively superior fit between the organization and its ever-changing environment (Kreitner, G13). Strategic management serves as the competitive edge for the entire management process. It effectively blends strategic planning, implementation, and control. Organizations that are guided by a coherent strategic framework tend to execute even the smallest details of their mission in a coordinated fashion. The strategic management process includes the formulation of a strategy/strategic plans, implementation of the strategy, and strategic control. A clear statement of the organizational mission serves as the focal point for the entire planning process. People inside and outside the organization are given a general idea of why the organization exists and where it is headed. Working from the mission statement, management formulates the organization's strategy, a general explanation of how the organization's mission is to be accomplished. Then general intentions are translated into more concrete and measurable plans, policies, and budget allocations. Implementation is the most important part of the strategy. Strategic plans must be filtered down to lower levels to be success. Strategic plans can go astray, but a formal control system helps keep strategic plans on track. In the strategic management process general managers who adopt a strategic management perspective appreciate that strategic plans require updating and fine-tuning as conditions change. Given today's competitive pressures, management cannot afford to let strategic plans sit as is. A strategic orientation encourages farsightedness. Sun Microsystems Inc. is one company that developed a strategy to become the competitive leader and become the most reliable in the net business. I will explain how Sun's strategy integrates their marketing, management, technology, and service functions into one effective strategy. First I'll discuss who Sun is and what encouraged them to develop their strategy.
Strategy implementation involves establishing programs and tactics to create a series of new organizational activities, budgets to allocate funds to the new activities, and procedures to handle the day-to-day details (Wheelen, Hunger, Hoffman, & Bamford, 2015). Essentially, after a company determines the direction of their program, it is the how that particular direction will be accomplished. It also answers the question of what resources must be moved or sold to meet the allocated budget. For example, Ford Motor Company set up a program with the sole purpose of discovering alternatives to the foam that was being used in the manufacturing of car seats (Ford Motor Company, n.d.). While this program has a great deal of potential, there are different aspects that would have to be measured and verified before it can be considered a successful course of action by the company.
Strategic planning consist of four steps starting from defining the company’s mission. When talking about a mission were talking about a certain phrase or slogan for say, that is intended to draw attention to customers and make them want to be even more loyal to the company. For example Walmart says, “Save money. Live Better”. Therefore, Walmart’s mission would be to let people know that they have low prices all day every day, insinuating that their products are affordable for everyone. This is a good mission because it gets the majority of the people in this world to want to go out and save money on their everyday necessities and even luxuries. The second step would be to set certain objectives and goals for the company as well. For example, CVS did use “Health is everything” as their mission and this didn’t just set out for a name it became a goal as well. Sooner or later you must set goals on your mission to understand the level that you need to get to and reach. Another example of a goal that I believe CVS set was to start selling healthier products. In the chapter it says that CVS stopped selling tobacco and other products that
Toyota has adopted an expansion strategy aimed at increasing the company’s market share through sustainable growth. This will be done based on the delivery of high quality, and safe cars, at an affordable price. As the company seeks to expand to new markets, focus will be on maintaining an organizational culture that allows optimum efficiency in the ever dynamic global market.
Strategic implementation entails the application of deliberate management processes to achieve the desired results. Predominantly, the process is achieved through the selection of implementation approaches that are related to an organization’s structure, management of human resources, developing, decision-making and information processes, allocating resources, determining desirable ...
Strategic management is viewed as the set of decisions and actions that result in the formulation, implementation and control of plans designed to achieve an organization’s vision, mission, strategy and strategic objectives within the business environment in which it operates (Pearce and Robinson, 2007). Strategy formulation has for the past decades been widely regarded as the most important component of the strategic process – more important than strategy implementation or strategic control. Nonetheless, strategic planning has taken on new importance in today’s world of globalization, deregulation, advancing technology, and changing demographics, and lifestyles. At the same time, there is also discussion whether we can separate “execution” and “implementation” from strategy formulation. Roger Martin, a professor and author, has joined the discussion and argue
If asked what strategic planning is one could interpret it as simply a road map that can guide the organization in the right direction. It is very unlikely that an organization would know which direction to take without a sense of direction. Managers are faced every day with decisions that have a major impact on the direction the organization must take, therefore, strategic planning can play an important role in guiding managers in the right direction. In other words strategic planning is a tool that management can use to give them a sense of direction that will guide them in doing a better job and to ensure that all the members of the organization are working toward the same goals
The four steps that lead managers and the firm through the strategic planning process are first defining the company’s mission, then setting objectives and goals, next designing a business portfolio and lastly developing functional plans. The first step involves focusing on consumers’ needs and wants. Setting forth a market oriented mission that organizations want to reach based on consumers of the environment. After finding the mission, organizations then proceed to put together supportive objectives for every level of management to help achieve its mission. Next the company has to design a business portfolio evaluating all of its current business and future business by coming up with