Meaning and Nature of Meaning and Nature of Strategy Strategy

ImplementationImplementationBy By

Pankaj kumarPankaj kumar

What do we mean by What do we mean by strategy?strategy?

Strategy – Greek word ‘strategos’ – generalship Strategy – Greek word ‘strategos’ – generalship Strategy is the determination of the long-term Strategy is the determination of the long-term

goals and objectives of an enterprise and the goals and objectives of an enterprise and the adoption of the courses of action and the adoption of the courses of action and the allocation of resources necessary for carrying out allocation of resources necessary for carrying out these goals.these goals.

Activities concerned with formulation and Activities concerned with formulation and implementation of strategies to achieve implementation of strategies to achieve organizational objectives organizational objectives

Strategy is management’s game plan for Strategy is management’s game plan for strengthening the organization’s position, strengthening the organization’s position, pleasing customers, and achieving performance pleasing customers, and achieving performance targets.targets.

Difference Between Policy and Difference Between Policy and Strategy Strategy

Example- An organization Example- An organization formulation formulates a policy that formulation formulates a policy that it will promote its employees on the it will promote its employees on the basis of seniority. basis of seniority.

Without a strategy,Without a strategy,managers have:managers have:

No thought-out course to follow

No roadmap to manage by

No action program to produce the intended result

Three FundamentalThree FundamentalStrategic QuestionsStrategic Questions

Where are we currently?Where are we currently?

Where do we want to be in the Where do we want to be in the future?future?

How will we get there?How will we get there?

Strategic planning is a Strategic planning is a “disciplined effort to “disciplined effort to produce fundamental produce fundamental decisions and actions decisions and actions that shape and guide that shape and guide

what an organization what an organization isis,,

what it doeswhat it does, and, andwhy it does itwhy it does it.”.”

Benefits of Strategic PlanningBenefits of Strategic Planning

Increased effectivenessIncreased effectiveness Increased efficiencyIncreased efficiency Improved understanding and better Improved understanding and better

learninglearning Better decision makingBetter decision making Enhanced organizational capabilitiesEnhanced organizational capabilities Improved communications and public Improved communications and public

relationsrelations Increased political supportIncreased political support

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STRATEGIC MANAGEMENT PROCESS

ENVIRONMENTAENVIRONMENTAL SCANNINGL SCANNING

STRATEGY FOSTRATEGY FORMULATIONRMULATION

STRATEGY IMPLSTRATEGY IMPLEMENTATIONEMENTATION

EVALUATION CEVALUATION CONTROLONTROL

ExternalExternal

InternalInternal MissionsMissions

ObjectivesObjectives

StrategiesStrategies

policiespolicies ProgramsPrograms

BudgetsBudgets

Procedures Procedures PerformancPerformance e

Feedback / Learning

Concept of strategic Concept of strategic implementationimplementation

According to McCarthy ‘Strategy According to McCarthy ‘Strategy implementation may be said to implementation may be said to consist of securing resources, consist of securing resources, organising these resources and organising these resources and directing the use of these resources directing the use of these resources within and outside the organization.within and outside the organization.

Strategy implementation can be Strategy implementation can be defines as a process through which a defines as a process through which a chosen strategy is put into action.chosen strategy is put into action.

Issue in strategy Issue in strategy implementationimplementation

Scope of managerial activities associated with Scope of managerial activities associated with strategy implementation is virtually co-existensive strategy implementation is virtually co-existensive with the entire management process. From with the entire management process. From analytical point of view, we may classify the various analytical point of view, we may classify the various functions relevant for strategy implementation into functions relevant for strategy implementation into following categories.following categories.

1.1. Institutionalization of a strategy through its Institutionalization of a strategy through its communication and acceptance, formulation of communication and acceptance, formulation of derivative plans and programmes, translating derivative plans and programmes, translating general objectives into specific operational general objectives into specific operational objectives, resource allocation. I.E. activating objectives, resource allocation. I.E. activating strategy.strategy.

2.2. Following various procedures to put the strategy in Following various procedures to put the strategy in action, I.e. procedural implementation.action, I.e. procedural implementation.

3. Design of organization structure and 3. Design of organization structure and development of organizational systems; development of organizational systems; i.e. structural implementationi.e. structural implementation

4. Developing plans and policies for 4. Developing plans and policies for different functions i.e. functional different functions i.e. functional implementationimplementation

5. Developing leadership style, building 5. Developing leadership style, building organizational climate, and infusing organizational climate, and infusing values, ethical and social consideration, values, ethical and social consideration, i.e. behavioral implementationi.e. behavioral implementation

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