Does the need to tailor a company's strategy-executing approaches to the particulars of the situation at hand necessarily alter the principal managerial components of the strategy-implementing/strategy-executing process?
What will be an ideal response?
Despite the need to tailor a company's strategy-executing approaches to the particulars of the situation at hand, certain managerial bases must be covered, no matter what the circumstances. These include 10 basic managerial tasks:
1. Staffing the organization with managers and employees capable of executing the strategy well.
2. Developing the resources and organizational capabilities required for successful strategy execution.
3. Creating a strategy-supportive organizational structure.
4. Allocating sufficient resources (budgetary and otherwise) to the strategy execution effort.
5. Instituting policies and procedures that facilitate strategy execution.
6. Adopting business management processes that drive continuous improvement in strategy execution activities.
7. Installing information and operating systems that support strategy implementation activities.
8. Tying rewards and incentives directly to the achievement of performance objectives.
9. Fostering a corporate culture that promotes good strategy execution.
10. Exercising the leadership needed to propel implementation forward.
You might also like to view...
Which approach describes authentic leadership in terms of the characteristics of leaders?
A. George’s B. Terry’s C. Walumbwa’s D. Luthans and Avolio’s
The National Conference of Commissioners issued the Uniform Computer Information Transaction Act (UCITA)
Indicate whether the statement is true or false
In determining the duty of care owed by a defendant using the reasonable person standard, the court will consider which of the following factors?
a. The existence of emergency conditions. b. A physician's training and years of experience. c. A person's severe mental retardation. d. Both the existence of emergency conditions and also a physician's training and years of experience.
A publicly held corporation is any corporation whose shares are publicly traded in a securities market
Indicate whether the statement is true or false