Reference no: EM1378393
The customer requires an overview of how classic management activities -planning, organizing, controlling, and leading - enable successful strategy implementation. Pair this article with a short powerpoint presentation on how management acitivties tie in.
LEAD STORY-DATELINE: Journal of Business Strategy, March/April 2003.
Many executives may think that their job is finished once a strategy has been formulated. The real genius, however, according to Freedman, is in implementing the strategy. Some of the barriers to successful implementation include a failure to start, a failure to get buy-in from everyone needed, a lack of focus, a lack of ownership, ineffective communication, failure to measure progress toward the goal, a failure to actually accomplish anything (though energy is being expended), a lack of patience, and a failure to reward successes.
To ensure that strategy implementation is more successful, the five phase strategy process should be employed. The process begins with the collection of information as the basis upon which strategic decisions will be made. The second phase is the actual formulation of the strategy. Then the projects identified necessary to meet the strategic objectives are then planned in the third phase. This sub-process has been referred to as the Strategic Master Project Plan (SMPP). Only then is strategy implemented - in the fourth phase. And finally, to ensure success, evaluation or monitoring should be conducted in the fifth phase.
Effective implementation depends upon carefully communicating the strategy to all stakeholders - both inside and outside the organization. When strategy drives the planning process, implementation is eased. When new strategies are implemented, changes must often be made - particularly in terms of structure and processes in the organization. Implementation can also be eased as complexity is reduced. And finally, having key processes in place (including decision-making, problem analysis, opportunity analysis, situation analysis, and project management) will assist in effective implementation.
|
Determining the optimal choice between two options
: Discuss and explain the expenses and profits of specialized task project relative to broad task project. What variables are likely to be particularly important in determining the optimal choice between these two options?
|
|
Measurement system and compensation policy
: The Green Shoe Corporation is planning going to a piece rate system, where producing workers are paid based on thei level of output. Discuss what factors the company should consider in deciding whether this idea should be implemented.
|
|
Decreasing morality rates
: Suppose if expenditures on medical services are less effective in decreasing mortality rates than are changes in lifestyle behavior, why does United States continue to spend an rising portion of its resources on medical care?
|
|
Question about product development
: The manager of my firm is deciding whether to construct a brand new item not yet seen in the marketplace or a version of a competitor's product that has already been launched into marketplace.
|
|
Discuss the effective implementation
: The customer requires an overview of how classic management activities -organizing, controlling, and planning - enable successful strategy implementation.
|
|
Discuss the basis for the crisis
: Address the Bridgestone or Firestone- tire shredding crisis. Research Bridgestone or Firestone's item crisis and consider alternative solutions
|
|
Determine average daily credit sales
: Miranda Tool Corporation sells to retail hardware stores on credit terms of "net 30." Yearly credit sales are $18 million and are spread evenly during the year.
|
|
Moderate-length essay on western civilization
: Prepare a presentation and a moderate-length essay on a topic in Western Civilization
|
|
Radical redesign of business processes
: Is reengineering just another management fad or does it offer something of lasting value? Explain specific conditions in which you would or would not suggest reengineering as a potential strategy.
|