WHAT DOES STRATEGY IMPLEMENTATION INCLUDE?

Building a firm capable of carrying out strategy successfully Allocating ample resources to strategy-critical activities Establishing strategy-supportive policies Instituting best practices & programs for continuous improvement Installing support systems Tying reward structure to achievement of results Creating a strategy-supportive corporate culture Exerting strategic leadership

RECAP OF IMPORTANT TERMS

efers to the entire direction-setting management function -- conceptuali!inging an organi!ation"s mission# setting specific performance ob$ectives# and forming a strategy% The end product of strategy formulation is a strategic plan%Includes the full range of managerial activities associated with putting the chosen strategy into place# supervising its pursuit# and achieving the targeted results%

Strategy Implementation
Strategy impleme tati! i" a i ter al# !perati! "$%ri&e a'ti&ity i &!l&i g !rga i(i g# )*%geti g# m!ti&ati g# '*lt*re$)*il%i g# "*per&i"i g# a % lea%i g t! +ma,e t-e "trategy .!r,/ a" i te %e%0 Strategy Impleme tati!

I &Culture is to the organi!ation what personality is to the individual ' a hidden# yet unifying theme that provides meaning# direction# and mobili!ation%( As such# it is emotional and intangible )Connor & *a+e# ,-../# individually and socially

constructed )0all & 0ord# 122,3 ousseau# ,--2/# and evolves over a period of years )4il+ins & 5atterson# ,-.6/# especially as organi!ations find acceptable and unacceptable solutions to internal and external problems or threats )7chein# ,-.6a# ,--1/%( )*indhal/ 7ustaining an Effective 8rgani!ational Culture

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An organi!ational culture consists of a complex set of ideologies# symbols# and core values that is shared throughout the firm and influences the way it conducts business 7haping the firm"s culture is a central tas+ of effective strategic leadership An appropriate organi!ational culture encourages the development of an entrepreneurial orientation among employees and an ability to change the culture as necessary eengineering can facilitate this process

W-y i" it Imp!rta t t! A%apt t! C-a ge? 9 9 Individuals# teams# or organi!ations that do not adapt to change in timely ways are unli+ely to survive% Individuals# teams and organi!ations that recogni!e the inevitability of change# learn to adapt to it# and attempt to manage it# will be the most successful%