The four related steps involved in strategy implementation are: (1) define strategic tasks; (2) assess organization capabilities; (3) develop an implementation agenda; and (4) create an implementation plan. Implementing the strategy using these steps requires communication, involvement, training/coaching, and monitoring. What are some difficult situations that may develop in implementing strategy, and how would a manager address them?
What will be an ideal response?
Answers will vary. Managers may find themselves having to spend more time in strategy implementation than anticipated. Communications may suffer, requiring restatement or reinforcement. Coordination may suffer, with groups working in isolation or at cross-purposes, requiring management intervention. Managers who lack leadership skills to implement the strategy may need to be replaced.
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The advance cash receipts of future revenues are called ________
A) accrued revenues B) deferred expenses C) deferred revenues D) accrued expenses
To acquire monopoly power in its market, Pure Plastics, Inc., sets its prices substantially below the normal costs of production. Under antitrust law, this is
A. a per se violation. B. a violation if its competitors make similar deals. C. a violation if it thereby acquires monopoly power. D. not a violation.
If we invest money for 10 years at 8 percent interest, compounded semiannually, we are really
investing money for 20 six-month periods, and receiving 4 percent interest each period. Indicate whether the statement is true or false