SG 9 Strategic Process - Implementation

Question 1

Formulation vs Implementation - 5 factors

Answer 1

Planning and decision making in creating strategic goals and plans vs focus on resources needed to execute the plans
Effectiveness vs efficency
Theoretical vs operational
Few individuals vs many individuals
Focus on initiative, logic-based skills vs motivational and leadership traits

Question 2

3 Primary components of strategy implementation

Answer 2

People capabiltiies and strcuture
Managing internal operations
Org culture and leadership

Question 3

What does organizational alignment do?

Answer 3

Provide framework for implementation by establishing entity’s decision making process and accountability structures and ensuring adequate resource allocation

Question 4

Most critical leadership trait

Answer 4

Clear understanding of what needs to be done, who can do it, and how to achieve it

Question 5

Foundation of a successfully implemented strategy

Answer 5

Assembling a competent management team. Traits include:
result-oriented
capable
big-picture thinking
ask questions
identify redundancies
follow-up on o/s tasks

Question 6

One main priority of strategy implementation

Answer 6

Build or strengthen the org’s core competencies and capabilities

Question 7

Define capabilities

Answer 7

assets, competencies, processes, skills or knowledge controlled by org needed to implement its strategy

Question 8

3 forms of building capabilities

Answer 8

Internal development
Acquiring via acquisition and mergers
Accessing via partnerships

Question 9

What are internally developed capabilities

Answer 9

Something that is used to increase competitive advantage that comes from the org internally such as knowledge, skill sets etc.

Question 10

Acquisition and mergers - capabilities features

Answer 10

More expensive than internal, but can quickly adopt the capabilities of acqquiree

Question 11

3 types of options for partnerships

Answer 11

Joint venture
Outsourcing
Collab partnership

Can be tricky as orgs may not want to share success for no return

Question 12

What does org structure need to do?

Answer 12

Support individual needs of org and its strategic objectives

Question 13

What is an org structure

Answer 13

Formal and informal arrangement of tasks, responsibilities and lines of authority. It clarifies decision making and establishes formal lines of comms. Can create value for org by reducing redundancies and lag time, which can create value for the customer.

Question 14

Simple structure - definiton and +

Answer 14

One person makes all decisions
+ good for small orgs
+ decisions made quickly
+ adapt to changes swiftly

Question 15

Functional structure - definition and +/-

Answer 15

Seperated out by department (sales/accounting etc)
Still relatively centralized (not as much as simple)
+ promotes learning and economies of scale
- interdepartmental comms may be limited (silo-thinking)

Question 16

Divisional structure - definition

Answer 16

Orgs are divided into divisions and managed as profit centres.
De-centralized decision making
Each division operates autonomously
Business-level activities are managed by divisional managers, but corp strategy managed by the exec

Question 17

Matrix structure def

Answer 17

Business-unit and functional levels are combined (i.e. employees have two bosses to report to)
Combines stability of functional with flexibility of business line

Question 18

Policy and procedures for achieving strategy vs control mechanisms

Answer 18

Designed to address risks that threaten achievement of the strategic goals, rather than safeguarding assets or ensuring FS are free from misstatements.
Should align with mission and values, laws and regulations.
Should clearly state reason for policy and how it aligns with the strategy.

Question 19

How does IT affect strategy?

Answer 19

Used to ensure historical info is accurate, as well as future-planning.
Can be a comp adv.
Can highlight weakness in collecting data.
Must be well-funded.

Question 20

What is org culture?

Answer 20

Informal set of values, behaviors and traditions that determine how managers and employees interact with each other and those outside the org. Culture must be aligned with strategy to succeed.

Question 21

3 ways a corporate culture is developed and nurtured

Answer 21

Tone at the tope
HR policies
Mangement-untion relationship

Question 22

3 facets of change management

Answer 22

Planning - including minimizing effects on morale of any terminations
Comunication - also including the need for change, the WHY
involvement and motivation - involve eneryone in the changes, including opp to provide feedback