3.10.3 Managing Strategic Implementation

Question 1

strategy

Answer 1

long term plan to achieve a business’s vision through attaining its corporate objectives

Question 2

leadership

Answer 2

included the functions of ruling, guiding and inspiring other people within an organisation in pursuit of agreed objectives

Question 3

organisational structure

Answer 3

the way a business is arranged to carry out its activities

Question 4

network analysis

Answer 4

occurs when a network diagram is used to analyse the activities involved in a project and to identify the fastest way of completing a project to a given standard

Question 5

critical path

Answer 5

shows the activities with zero float time. these activities determine the fastest a project can be completed. any delay in these critical path activities causes a delay to the whole project.

Question 6

total float time

Answer 6

how long an activity can overrun without holding up the whole project

Question 7

functional

Answer 7

there is a logical approach in that members of each department have the same job area

Question 8

product based

Answer 8

this occurs when a business has very clear product lines that have different customer bases and different challenges and opportunities

Question 9

regional

Answer 9

this is used if the strategy involves competing in very distinct regions of a country or around the world

Question 10

matrix

Answer 10

based around projects and involve the creation of teams that include the neccessary specialists

Question 11

how to implement strategy effectively

Answer 11

• planning what and who is needed where and when
• setting clear standards of what is expected of so that all those involved understand what they need to deliver
• organising the resources required to do the job properly
• coordinating what has to happen
• ensuring the right people are in charge of the various parts of the strategy
• establishing clear points at which progress can be reviewed and measured

Question 12

the value of leadership in strategic implementation

Answer 12

• make clear what has to be done and why
• gain the support of senior, middle and junior management who will have put the strategy in place
• ensure the required resources are in place
• ensure effective communication systems are in place
• ensure that reward and appraisal systems are designed to ensure that employees are aligned to the strategy
• design quality checking systems
• overcome resistance to the strategy being implemented (Kotter & Schlesinger’s)
• ensure there are clear stepping stones making progress

Question 13

the leader is the one who will be…

Answer 13

• representing the business
• negotiating if there are serious obstacles to progress

Question 14

the value pf communication in strategic implementation

Answer 14

• it can help win support from stakeholders
• it can help reduce distrust and highlight the benefits of those involved in the process

Question 15

network analysis (critical path analysis)

Answer 15

it shows:
- the sequence in which the tasks must be undertaken
- the length of time taken by each task
- the earliest time at which each stage can commence

Question 16

benefits of network analysis

Answer 16

• forces a manager to organise tasks - therefore the project should be planned efficiently
• based on timings - this should help the time spent on a project to a minimum (time based management)
• should help identify opportunities for JIT stock control as the manager knows when tasks are due to start. resources are used efficiently

Question 17

limitations of network analysis

Answer 17

• usually undertaken for complex projects and therefore can be prone to mistakes in drawing up the network
• there is no guarantee that the tasks will take the predicted length - i.e. there may be external factors that affect whether a task is completed on time

Question 18

uses of critical path analysis

Answer 18

• estimate and minimise project time
• support project costing and evaluation
• plan and organise resources (move from activities with float)
• priorities tasks

Question 19

nodes

Answer 19

a node is a circle that represents the start and end of an activity e.g. the one on the left is node 1

Question 20

activities

Answer 20

the activity is shown by a labelled arrow (and letter) and the duration of each activity is outlines below the arrow

Question 21

earliest starting time (EST)

Answer 21

the earliest starting time that a given activity can begin

Question 22

latest finishing time (LFT)

Answer 22

the latest time that a given activity can finish without delaying the project as a whole

Question 23

the critical path

Answer 23

to identify the critical path, the 2 key points are:
- it will be on the activities where the nodes show the EST and LFT to be the same
- it is the longest path through these nodes
(represented by //)

Question 24

what does calculating LFT’s provide?

Answer 24

• the deadlines which must be met in order for the project to be completed on time
• it helps to identify the activities which have float time, i.e. some slack between EST and LFT
• it identifies the critical path

Question 25

what is float time?

Answer 25

tasks that are not on the critical path will have spare time available and this gives the manager some flexibility with resources. this means resources can be moved elsewhere

Question 26

float time calculation

Answer 26

LFT - duration - EST for the particular task involved

Question 27

what does calculating EST's provide?

Answer 27

- the earliest date certain resources will be needed - this avoids typing up working capital unnecessarily - the earliest completion date for the whole project (this is the EST on the final node)