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Strategic > Implementation* > Flashcards

Implementation* Flashcards

1
Q

STRATEGY IMPLEMENTATION

A

Sum total of activities & choices

required for strategic plan execution

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2
Q

STRATEGY IMPLEMENTATION, It is a process by which;

A

objectives + strategies + policies
are put into action through the development of;
programs + budgets + procedures

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3
Q

STRATEGY IMPLEMENTATION, COMMON PROBLEMS:

A

Took more time than planned
Unanticipated major problems
Poor coordination
Competing activities and crises created distractions
Employees with insufficient capabilities
Poor subordinate training
Uncontrollable external environmental factors
Poor departmental leadership and direction
Inadequately defined implementation tasks and activities
Inefficient information system to monitor activities

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4
Q

Key Implementation Questions –

A

Who carries out a strategic plan?
What needs doing for alignment w/ strategy?
How is work coordinated?

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5
Q

Who carries out a strategic plan? 1

A

The implementers are;

everyone in the organization

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6
Q

Who carries out a strategic plan? 2

A

Unless changes in mission, objectives, strategies and policies and their importance to the company are communicated clearly to all operational managers, there can be a lot of resistance and foot-dragging.

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7
Q

Who carries out a strategic plan? 3

A

This is the reason why involving people from all organizational levels in the formulation and implementation of strategy tends to result in better organizational performance.

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8
Q

WHAT MUST BE DONE?

A 
The managers of divisions and functional areas work with their fellow managers to develop;
Programs
Budgets, and
Procedures
Achieving synergy
to implement strategy
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9
Q

WHAT MUST BE DONE? 2

A

They also work to achieve synergy among the divisions and functional areas in order to establish and maintain a company’s distinctive competence

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10
Q

The purpose of a program is to make a strategy

A

Action-oriented

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11
Q

Budgets

A

Planning a budget is the last real check a corporation has on the feasibility of its selected strategy

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12
Q

Procedures

A

Detailed activities that must be carried out to complete the programs.

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13
Q

Synergy

A

exists for a divisional corporation if the return on investment is greater than what the return would be if each division were an independent business

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14
Q

Achieving Synergy

A

Shared know-how

Coordinated strategies

Shared tangible resources

Economies of scale or scope

Pooled negotiating power

New business creation

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15
Q

How is a strategy to be implemented?

A

Organizing
Staffing
Directing
Controlling

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16
Q

ORGANIZING

A

Any change in corporate strategy is very likely to require
some sort of change
in the way
an organization is structured

17
Q

Authority 1

A

Authority: How and Why Vertical Differentiation Occurs

18
Q

Authority 2

A

The hierarchy begins to emerge when the organization experiences problems in coordinating and motivating employees effectively
Division of labor and specialization make it hard to determine how well an individual performs
Impossible to assess individual contributions to performance when employees cooperate

19
Q

To deal with coordination and motivation problems, the organization can

A

Increase the number of managers it uses to monitor, evaluate, and reward employees
Increase the number of levels in its managerial hierarchy

20
Q

Tall organization,

Flat organization:

A

Tall organization: The hierarchy has many levels relative to the size of the organization
Flat organization: Has few levels in its hierarchy relative to its size

21
Q

Bloated Structure

A

with an increasing number of managers at each level

22
Q

Organizational Structure

A

The formal arrangement of jobs within an organization.

23
Q

Organizational Design

A 
A process involving decisions about six key elements:
Work specialization
Departmentalization
Chain of command
Span of control
Centralization and decentralization
Formalization
24
Q

Structure follows strategy

A 
New strategy is created
New administrative problems emerge
Economic performance declines
New appropriate structure is invented
Profit returns to the previous level
25
Q

Staffing

A

Hiring new people with new skills; firing people w/ inappropriate skills; training existing employees to learn new skills

26
Q

Leading

A

Specifying clear performance objectives and promoting a team-oriented corporate culture

27
Q

Staffing follows strategy

A

Having formulated a new strategy, a corporation may find that it needs to either hire different people or retrain and develop current employees to implement new strategy

28
Q

Matching manager to strategy

A

Executives with a particular mix of skills and experiences may be classified as an
EXECUTIVE TYPE
and paired with a specific corporate strategy

29
Q

Executive type

A 
Dynamic industry expert
Analytical portfolio manager
Cautious profit planner
Turnaround specialist
Professional liquidator
30
Q

Dynamic industry expert

A

A corporation following a concentration strategy emphasizing vertical or horizontal growth would probably want an aggressive new CEO with a great deal of experience in that particular industry

31
Q

Analytical portfolio manager

A

A diversification strategy might call for someone with an analytical mind who is highly knowledgeable in other industries and can manage diverse product lines

32
Q

Cautious profit planner

A

A corporation choosing to follow a stability strategy would probably want its CEO as a cautious profit planner

33
Q

Turnaround specialists

A

Weak companies in a relatively attractive industry tend to turn to a type of challenge-oriented executive

34
Q

Professional liquidator

A

If a company cannot be saved, a professional liquidator might be called on by a bankruptcy court to close the firm and liquidate its assets

Strategic (16 decks)

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