Implementing Strategy

Implementing Strategy

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Implementing Strategy

Actions taken by a company/organization to increase productivity, generate revenues and enhance its profits are defined as Strategies. Many companies conduct proper planning sessions for the formulation of strategies, annually. These strategies then outline the specific tasks/projects required for their implementation. ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"GhmN3YVc","properties":{"formattedCitation":"{\\rtf (\\uc0\\u8220{}Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,\\uc0\\u8221{} n.d.)}","plainCitation":"(“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.)"},"citationItems":[{"id":80,"uris":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"uri":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"itemData":{"id":80,"type":"webpage","title":"Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?","abstract":"Strategies are actions a company's management takes to build revenues, improve productivity and increase profits. Strategy formulation involves making critical choices -- what products or services to sell, and where and how to sell them. Many companies have an annual strategic planning process involving members of the ...","URL":"https://smallbusiness.chron.com/strategy-implementation-considered-difficult-stage-strategic-management-53054.html","language":"en"}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.) The two most crucial parts of strategy development are Strategy formulation and then its implementation.

Strategy Formulation is the process of developing a stable and thoughtful strategy, that assists the organization/company in achieving its goals. The process type is logical, as it involves planning and the main focus is on effectiveness. The process of Strategy Formulation demands analytical skills and is usually done by the Top Management of the companies. Strategy Implementation, however, means turning the developed strategy into action. The process type is operational, as it involves implementation and the emphasis is on efficiency. Strategy Implementation requires strong leadership skills and is done by the Functional Management of the companies. CITATION Sur18 \l 1033 (S, 2018)

Challenges

Both the formulation as well as the implementation of a strategy are undoubtedly, very important in the Strategic Management process. However, in comparison, the implementation of a strategy is a more important and difficult task. The possible reasons for the argument are explained below:

Difficulty in Planning the Arrangement of Tasks

Implementation of some strategies requires numerous steps, which makes it a complex and difficult process. For the success of strategies, the management has to consider the time constraint as well, such as picking up the most suitable time to launch a specific product. Managers, while formulating a strategy, must properly analyze each and every step and then predict the correct completion times for them. ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"OiRC3YMY","properties":{"formattedCitation":"{\\rtf (\\uc0\\u8220{}Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,\\uc0\\u8221{} n.d.)}","plainCitation":"(“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.)"},"citationItems":[{"id":80,"uris":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"uri":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"itemData":{"id":80,"type":"webpage","title":"Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?","abstract":"Strategies are actions a company's management takes to build revenues, improve productivity and increase profits. Strategy formulation involves making critical choices -- what products or services to sell, and where and how to sell them. Many companies have an annual strategic planning process involving members of the ...","URL":"https://smallbusiness.chron.com/strategy-implementation-considered-difficult-stage-strategic-management-53054.html","language":"en"}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.)

Resistance to Modification/Change

A small change in the strategic management process has its effects on the whole organization. Implementation of the modifies strategies may require the reorganization of whole departments. Different conflicts regarding the revised strategies may exist among the employees. They may not accept their new duties/responsibilities. Therefore, wouldn’t perform their job effectively that is needed for the success of new/modified strategies. In order to minimize the resistance, the management must justify every change they make in the strategy. ADDIN ZOTERO_ITEM CSL_CITATION {"citationID":"4At1Ispt","properties":{"formattedCitation":"{\\rtf (\\uc0\\u8220{}Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,\\uc0\\u8221{} n.d.)}","plainCitation":"(“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.)"},"citationItems":[{"id":80,"uris":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"uri":["http://zotero.org/users/local/87ZAHpff/items/KFMS6M8L"],"itemData":{"id":80,"type":"webpage","title":"Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?","abstract":"Strategies are actions a company's management takes to build revenues, improve productivity and increase profits. Strategy formulation involves making critical choices -- what products or services to sell, and where and how to sell them. Many companies have an annual strategic planning process involving members of the ...","URL":"https://smallbusiness.chron.com/strategy-implementation-considered-difficult-stage-strategic-management-53054.html","language":"en"}}],"schema":"https://github.com/citation-style-language/schema/raw/master/csl-citation.json"} (“Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management?,” n.d.)

References

BIBLIOGRAPHY S, S. (2018, July 26). Difference Between Strategy Formulation and Strategy Implementation. Retrieved from Key Differences: https://keydifferences.com/difference-between-strategy-formulation-and-strategy-implementation.html

ADDIN ZOTERO_BIBL {"custom":[]} CSL_BIBLIOGRAPHY Why Is Strategy Implementation Often Considered the Most Difficult Stage in Strategic Management? (n.d.). Retrieved from https://smallbusiness.chron.com/strategy-implementation-considered-difficult-stage-strategic-management-53054.html