The value of a good strategy is only known when strategy implementation is completed effectively.For many companies, the issue of implementation is a re-occurring decay on the business’s growth as it continues to fail to reach its deliverables. Understanding what role strategy plays in an organisation can assist you in learning why implementation can fail and the effect it has on the business. Show
What is Strategy?The strategy is the vision of what you want to achieve and where your business is heading, setting out the focus and priorities to everyone within the company. If used correctly, it can be instrumental in the making of decisions regarding actions or purchases such as software, product innovation, marketing strategies, sales strategies. Often strategy is reviewed from time to time, as the company believes everyone is working toward the same goals. The strategy becomes diluted to become something of intent more than the primary focus of the management team. What are Strategic Goals?The strategic goals are a subset of the strategy. They are how the company will achieve the strategy and the actions they need to take to bring it into effect. They are the items that strategic leadership teams are required to deliver. To assist in the implementation, companies often turn to a balanced scorecard as a strategic planning and management system. Organisations use the scorecard to communicate what they are trying to accomplish. The scorecard aligns the day-to-day work that everyone is doing with strategy. The scorecard assists strategic management to prioritise projects, products, and services. About Strategy ImplementationImplementation is the process that turns your strategies and plans into actions so you can accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy. Strategy implementation can fail for a number of reasons, including:
Each of the points is not mutually exclusive and must be considered simultaneously for strategy implementation to succeed. Effective implementation requires a well-disciplined management process for it to succeed. How does implementation affect marketing and sales?For many companies, the strategy encompasses the activities of sales and marketing. These two areas often have the highest transparency of success or failure, as they can be seen from the outside and internally. The implementation of the strategy involving these two contributing areas requires careful management and leadership. Problems of successful implementation centre around how well or badly the existing business responds to change and how adequate their reporting proves to be. Any strategy requires change. To counter these problems, Sales Focus Advisory suggests the following:
In conclusion:Developing a great strategy does not guarantee your successful strategy implementation. The one pivotal point defining success and failure will be the selection of the leader of your implementation. A good leader delivers, and an average leader gets lost on the path and fails to complete what is required. An average leader can derail many other parts of the business as the way forward corrupts other initiatives undertaken by the company that relies on marketing and sales success. The selection of the leader can be bound in emotive interests, loyalty in a desire to have the least disruption during the implementation. Those points alone are red flags of potentially poor decision making that will affect the outcomes. In this eBook, we outline how to select the right person for strategy implementation when the change is a disruptive element that needs to be managed correctly. If you found this article helpful, follow us on LinkedIn or subscribe to Our Insights on the right-hand column of this page, to make sure you don’t miss new posts. Articles you may also be interested in reading:
© Y2016 Sales Focus Advisory. All Rights Reserved Why is implementation of strategy more important than formulation of strategy?Strategy Formulation is a logical process, whereas Strategy Implementation is an operational process. Strategy Formulation puts emphasis on effectiveness, but Strategy Implementation gives stress on efficiency. Strategy Formulation is the responsibility of top management.
Which is more important strategy formulation or Strategy Implementation do they depend on each other?Implementation is the process that turns your strategies and plans into actions so you can accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy.
What is more important strategy or implementation?Whereas the strategic plan addresses the what and why of activities, implementation addresses the who, where, when, and how. It is believed that implementation is as important, or even more important, than strategy. The fact is that both are critical to success.
Which is more critical to the entity strategy formulation or Strategy Implementation?Implementation and execution of strategy turn out to be the most important thing that you as marketing strategists need to take care of.
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