Managing strategic implementation Flashcards
What is meant by implementation?
Implementation means putting into action. Managers implement a plan when they make it happen.
What is the strategic planning process?
- Identify current mission, goals and strategy
- SWOT analysis
- Formulate strategies
- Implement strategies
- Evaluate results
What does effective strategic implementation involve from leadership?
- Planning what and who is needed when and where
- Setting clear standards
- Organisation and coordination
- Establishing clear points at which progress can be measured and reviewed
- Ensuring the right people are in charge of the various parts of the strategy
Why is communication important when implementing a new strategy?
- Help win support from stakeholders
- Help reduced distrust and highlight the benefits to those involved in the process
What are the four forms of organisational structure?
- Functional structure
- Product structure
- Regional structure
- Matrix structure
What is functional organisational structure?
Members of each department have the same job area, sharing expertise
May identify with the department rather than the business as a whole, lacking empathy for others
Marketing, operations, finance, and HR, all seperate
What is product organisational structure?
Different product lines with different customer bases,
e.g. travel company has a coach division and a camping division.
Product A: marketing, HR, finance, operations
Product B; marketing, HR, finance, operations
What is a regional organisational structure?
A regional structure such as north, south east, west, makes sense if the strategy of a business involves competing in very distinct regions.
What is a matrix organisational structure?
Individual job holders have more than one boss, important to report to superiors that know about the region and about the product.
E.g.
Job 1 reports to region B and product Y
Job 2 reports to region B and product Z
How will the right form of organisational structure positively affect a businesses performance?
- Provide sufficient flexibility to meet local needs without losing the benefits of centralisation
- Be cost efficient
- Enable decision making to be suitably fast and decisions to be made by those qualified to make them
What factors will determine what organisational structure is appropriate?
The market conditions
- different market segments? product structure.
The global scale of the business
- regional structure
What is network analysis?
Network analysis occurs when a network diagram is used to analyse the activities involved in a project and to identify the fastest way of completing the project to a given standard.
What must managers do to undertake network analysis and produce a network diagram?
- Identify all the different elements of the strategy
- Estimate the expected length of time each element of the strategy will take to complete
- Determine the order in which the different elements of the strategy must be completed
What is the EST on network analysis?
EST is earliest time that a given activity can begin
What is LFT on network analysis?
LFT is the latest time a given activity can finish without delaying the project as a whole
What is meant by critical path in network analysis?
Critical path shows the activities which have zero float. These activities determine the fastest a project can be completed. Any delay in these critical path activities causes a delay to the project as a whole.
What is float time in network analysis?
Float time is how long an activity can overrun without holding up the whole project.
How is total float time calculated?
Total float time = latest finish time - duration - earliest start time
