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
