IMPLEMENTING THE STRATEGIES

🌹 Successful implementation requires certain sequence of activities that need to be done to give this process a higher chance of success.

🌹 4 steps are proposed :

• Convert the strategy to strategic objective (Specific, Measurable, Achievable, Realistic and Targeted within a specific time or SMART)
• Build the strategic action plan (SAP)
• Develop the strategic annual action plan 🌹🍉🍉🍉🍊🐤🐤🐤🐤
• Look at the soft components of strategic implementation.

STRATEGY TO STRATEGIC OBJECTIVES

🐤 Converting the strategy to something measurable requires that it is turned into a strategic objective statement. For example :

• The chosen strategy : 'backward integration to control the raw material supply'
• The strategic objective : ' to establish at least two firms to handle the company's need for 80% of the raw material supply in three years time'

STRATEGIC ACTION PLAN

🐤 The SAP is the document to be used as a reference for management purposes.

🐤 The action plan will contain the chosen strategy that will need to be broken up into several components.

🐤 The action plan will have the strategy that will need to be broken up into several components :

• The chosen strategy : "Backward integration by controlling the raw material".
• Strategic objectives : To reword the strategy to encompass the SMART characteristics; "to establish at least two firms to handle the company's need for 80% of the raw material supply in three years' time".
• Tactical strategy : To come up with a tactical strategy that will help achieve the strategic objective such as " backward integration to control supply of selected raw material".
• Tactical objective : Identify and analyze two core areas where raw material supply need to be controlled and to search for five potential firms to be negotiated targets for collaboration".

STRATEGIC ANNUAL ACTION PLAN

🐤 The SAAP is the detailed content of the first year of SAP. Failure of strategy implementation has been researched into and the major reasons why it failed were attributed to the following :

• miscommunication
• lack of commitment
• short of needed resources
• does not know whose responsibility
• not sure what to do
• change in management personnel handling the plan
• unexpected change in the environment which was not predicted

🐤 The Strategic Annual Action Plan

 SUCCESSFUL IMPLEMENTATION PHASE 

💁 Organization Structure : 

• Organization structure must be compatible with the strategy.
• If a new strategy is agreed upon, analyse the compatibility of the structure and the new strategy.
• A simple example: Wanting to be recognized as a front runner in the product innovation of the business.

💁 The Leadership Role :

• The leadership role has to be performed by whoever has been empowered.
• He needs to be the captain of the ship, guiding, supporting and being available when needed and always be seen supporting the strategy all the way.
• His behaviour, words, command and lifestyle perhaps have to be in line with the strategy the company pursues.
• Leadership too needs to fit with the strategy.

💁 The Reward System :

• The are certain objectives that need to be achieved by employees when implementing a strategic plan.
• If there are successfully implemented, the management would be wise to give special rewards to the personnel identified and his team for their success
• If such a reward is closely linked with the success of the strategic plan implementation, then it is clear that the implementation is monitored and rewarded.

💁 Allocation of Resources

• In the SAAP, 2 columns are specially labelled, the financial and non-financial resources needed.
• The implementation process will b smooth as all resource requirements have been made available.

💁 Managing Change

• "Change" and managing if successfully is what needs to be done.
• The employees (being human) resist drastic changes which are need to be prepared physically, mentally and psychologically, working in a group for the 1st time, new methods of delivering and the promises to customers and many want it to be efficient and fast.
• Four different areas need to be addressed so that change can be administered effectively : Structure, Technology, Individual roles and System & strategy (STIRS).

1.  Structure : Structure needs to be compatible with the strategy. To achieve the flat structure as opposed to the tall and bureaucratic.
2. Technology : Constant change in technology and the need to upgrade it is a constant issue. Have the latest technology.
3. Individual roles : Related closely to this will be the reward system that is associated with the change process.
4. System and strategy ; Have a sound workable system that can perform the needed coordination activities.

💁 Corporate Culture

• Culture is a way of life in the organization and can be embedded strongly in it.
• If the culture is not compatible than they need to be appropriately adjusted and changed.
• Implement a strategy that fits the corporate culture.

💁 Having a Sound Strategic Planning System

• This is a significant component in determining the success of the implementation of a strategy.
• A sound strategic planning system would ensure that the strategic process can be carried out efficiently and effectively.
• It is the last phase of the strategic planning process.
• Top management will be able to know the deviation when monitoring the quarterly objectives.
• If the factor that causes the deviation requires more than remedial actions then a decision has to be made fast.