Implementing Strategy
- Created by: tanja soulsby
- Created on: 08-06-17 11:43
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- Implementing Strategy
- Putting strategy in action
- Business might have to make big changes to implement their strategy
- Success of strategy depends on how well business manages change
- Business needs to plan & organise resources they need
- Assign responsibilities to staff
- Organise training & recruitment
- Budget time & finances
- 3 main factors to effectively implement strategy:
- Leadership
- Communication
- Organisational structure
- Business might have to make big changes to implement their strategy
- Leadership important
- Good leader can take action to make sure changes go as smoothly as possible
- Person should take overall responsibility for management of strategic implementation
- Delegate responsibilities for different elements where necessary
- Leader create clear and inspiring visions that comes from the top
- Sets the example for everyone else
- Can motivate everyone to engage with the process
- Can be done by creating a positive culture e.g. rewarding employees for hitting their targets
- Important in successfully managing change
- Can be done with clear communication
- Lots of employee involvement
- Suitable leadership style
- Good communications vital
- Purpose of communication is to clearly pass on information & ideas, & motivate people
- Senior managers need to communicate functional objectives to department managers
- Business' objectives and strategy needs to be communicated to all staff so they what the business is doing and why
- Different departments need to communicate with each other to coordinate their activities
- Any employee affected by strategy needs to be told how it will change their role/responsibility
- 2-way process
- Employees should inform their managers if there are any issues with implementing strategy
- Managers should respond to the feedback
- Putting strategy in action
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