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A Road Map for Successful Strategy Execution Case Study

Autor:   •  June 22, 2019  •  Essay  •  1,225 Words (5 Pages)  •  18 Views

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A Road Map For Successful Strategy Execution

Introduction

            This article demonstrates the importance of strategy formulation and execution by general managers, and provides a four-step process to help general managers achieve their goals. The four processes are: Diagnosis, Direction, Action, and Personal Development. Diagnosis helps general managers understand the current position of an organization and the organizations strengths, weaknesses and possible areas of improvement. General managers must first evaluate an organization’s governance, strategy, people, culture, structures and systems in order to properly diagnose an organization’s problems and begin the process of setting direction for the organization. It is important for general managers to first ensure that everyone on his or her team is on the same page and understands the core problems the organization is facing. Before setting a new direction, General managers must analyze the organization’s current situation and, with the help of his or her team and other member of the organization, develop a long-term corporate vision. Organizations must take into account their strengths, weaknesses, resources and available opportunities when developing a corporate vision, and set strategic goals and develop a change strategy to achieve this vision. It is important to continuously monitor the changes put into action during this process, and to establish scheduled milestones to ensure the organization stays on track. Putting a plan into action is one of the most difficult aspects of the strategy execution process for general managers. General managers must keep in mind the strategic, operational, and political implications resulting from the changes they make, and that these changes align with the corporate vision and strategic goals. The last part of the strategy execution process is personal development. It is important for general managers to be mindful of their own personal shortcomings as they come to light. Doing so will help general managers make important decisions regarding delegation of duties, and determine if he or she has the time and the skills necessary to complete the task that cannot be delegated. General managers must also recognize the high level or responsibility they have as strategic leaders, and how their decisions affect the lives of many people both inside and outside the organization and leave a lasting impression.

Background

            Strategy execution is an extremely important skill for managers in today’s ever changing business environment. It encompasses all functions of marketing. Strategic leaders must be able to develop a leadership style that caters to both traditional marketing concepts and customer relationship management concepts in order to be successful. Effective strategies must focus on creating customer value as effectively and efficiently as possible. This requires managers to develop an understanding of organizational culture and the different structures and systems in place in order to create an effective business strategy. Gathering information from all levels of the organization help managers understand the core challenges the organization is facing, and develop a shared understanding of these problems throughout the organization. This shared understanding is very important and helpful for managers as they develop a corporate vision and in setting strategic goals. Before changes can be made, it is important for managers to make sure everyone is on the same page and has a clear understanding of the direction they are heading with the organization. While developing a change strategy, it is important for managers to consider the pace and different processes that will be used in these changes; along with the style of leadership necessary for each organizational component that requires change. It is also important to develop a monitoring strategy that ensures key milestones are reached on time. When putting these changes into action, managers should consider the benefits associated with relationship marketing and apply them as they are making changes. Proper recruiting and staffing are crucial in implementing a strategic plan into action. This may involve instituting new employee training programs. These programs will help find the right people for the right positions in the new organizational structure, and help new employees understand the organizational culture. It is also very important for managers to keep in mind the implications of the changes being made during this process, and also for managers to recognize any changes they need to make personally. Managers need to keep in mind any personal shortcomings they discover throughout the strategy execution process. This will help them identify the various roles that can be delegated to others, and which skills they need to develop or learn more about in other roles. Managers also need to keep in mind the high level of responsibility they have as strategic leaders. Their decisions affect many lives inside and outside the organization, and society at large. The success of strategic leaders should not be based on their financial performance alone. Social and environmental performance of a business over time should also be considered. John Elkington’s “elements of the triple bottom line provide a good framework for such evaluations” (tutor2u, 2016).

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