Implementing Strategy

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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
    • 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

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