Identify and briefly explain four actions that top executives can take that are key elements in directing organizational action and building capabilities behind the drive for good strategy execution to meet or beat performance targets.

Question

What will be an ideal response?

Answer 1

Management's action agenda for executing the chosen strategy emerges from assessing what the company will have to do to achieve the targeted financial and strategic performance. In most situations, managing the strategy execution process includes the following principal aspects:
• Creating a strategy-supporting structure
• Staffing the organization to obtain needed skills and expertise
• Developing and strengthening strategy-supporting resources and capabilities
• Allocating ample resources to the activities critical to strategic success
• Ensuring that policies and procedures facilitate effective strategy execution
• Organizing the work effort along the lines of best practice
• Installing information and operating systems that enable company personnel to perform essential activities
• Motivating people and tying rewards directly to the achievement of performance objectives
• Creating a company culture conducive to successful strategy execution
• Exerting the internal leadership needed to propel implementation forward