Reference no: EM132648234

Background: Allocation of sufficient resources (financial, personnel, time, computer system support)

According to many introductory strategy textbooks, strategic thinking can be divided into two segments: strategy formulation and strategy implementation through the change management process. Strategy formulation is done first, followed by implementation.

After formulation the next phase, according to this linear model is the implementation of the strategy. This involves:

• Establishing a chain of command or some alternative structure (such as cross-functional teams)
• Assigning responsibility of specific tasks or processes to specific individuals or groups
• It also involves managing the process. This includes monitoring results, comparing to benchmarks and best practices, evaluating the efficacy and efficiency of the process, controlling for variances, and making adjustments to the process as necessary.
• When implementing specific programs, this involves acquiring the requisite resources, developing the process, training, process testing, documentation, and integration with (and/or conversion from) legacy processes

Question: How would you go implementing a strategy differently? Would you follow the above process? Explain your response?

Source: Hitt, M. A. Strategic Management: Concepts and Cases: Competitiveness and Globalization. Retrieved from: https://phoenix.vitalsource.com/#/books/9781305217188