9 MARKETING STRATEGIES Market Implementation and measurement.pdf

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STRATEGY IMPLEMENTATION AND CONTROL.MEASUREMENT OF MARKETING STRATEGIESAND PROCESSES
Strategy ImplementationThat means , even if management knows exactly where theywant to be and has formulated a strategy to get there , thestrategy still needs to:be effectively implemented,evaluated andcontrolled to deliver results
Strategy ImplementationWhat is strategy implementation ?It is defined as the communication , interpretation,adoption, and enactment of strategic plans.strategy implementation, is often called the action stage of astrategic management as it requires mobilization of humanresources at all levels to convert a formulated strategy.
Effective implementation of a strategy involves creating anorganisational structure with the capabilities, competencies andresources required to effectively implement strategiesThis means an organisational strategy should employ all thenecessary enablers in order to achieve its goal.Developing budgets to ensure that resources are allocated forstrategic success.Establishing strategy-supportive policies and procedures.Implementing best practices and continuous improvement tosupport the implementation of strategy.
Creating and implementing organisational systems thatenable employees to effectively execute their strategic roles.Aligning rewards and incentives with the achievement ofindividual and organisational objectives.Creating an organisational culture that is aligned with thestrategy of the organisation.Practicing strategic leadership that is biased towards theeffective implementation of strategy.
Barriers to Effective Strategy ImplementationPoor understanding of the strategyby the work force.individual team goals and incentivesnot well alignedwiththe strategies of the organisation.Allocation of Resources is not aligned with the strategyA lack of human capital developmentAn inability to manage change effectivelyIneffective controls and feedback mechanisms
Strategic evaluationandcontrolDefinition:is the process of determining the effectiveness of a givenstrategyin achieving the organizational objectives and takingcorrective actions whenever required.
Strategy Control and evaluationThe final stage in strategic management is strategy evaluation andcontrol.All strategies are subject to future modification because internaland external factors are constantly changing.In the strategy evaluation and control process managers determinewhether the chosen strategy is achieving the organization'sobjectives.The fundamental strategy evaluation and control activities are:reviewing internal and external factors that are the bases forcurrent strategies measuring performance and taking correctiveactions.

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