2eIM-LN-Chapter10 - Section 6 C hapter Lecture Notes for...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
419 Section 6 Lecture Notes for Chapter 10 Chapter 10 Superior Strategy Execution Chapter Summary Once managers have decided on a strategy, the emphasis turns to converting it into actions and good results. Putting the strategy into place and getting the organization to execute it well call for different sets of managerial skills. Strategy execution requires every manager to think through the answer to the question: “What does my area have to do to implement its part of the strategic plan, and what should I do to get these things accomplished effectively and effi ciently?” Lecture Outline I. The Principal Managerial Components of the Strategy Execution Process 1. Executing strategy entails fi guring out the specifi c techniques, actions, and behaviors that are needed for a smooth strategy-supportive operation and then following through to get things done and deliver results. 2. Eight managerial tasks crop up repeatedly in company efforts to execute strategy: (see Figure 10.1) 1. Despite the need to tailor a company’s strategy-executing approaches to the particulars of its situation, certain managerial bases have to be covered no matter what the circumstances 3. Figure 10.1, The Eight Components of the Strategy Execution Process , depicts the eight managerial tasks that come up repeatedly in a company’s efforts to execute strategy: a. Building an organization capable of executing the strategy successfully. b. Allocating ample resources to strategy-critical activities. c. Ensuring that policies and procedures that facilitate rather than impede effective strategy execution. d. Pushing for continuous improvement in how value chain activities are performed. e. Installing information and operating systems that enable company personnel to perform essential activities. f. Tying rewards and incentives directly to the achievement of performance objectives. g. Fostering a corporate culture that promotes good strategy execution. h. Exerting the internal leadership needed to propel implementation forward. 419
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Section 6 Instructor’s Manual for Essentials of Strategic Management 420 II. Building an Organization Capable of Good Strategy Execution 1. Building a capable organization is always a top priority in strategy execution. Three types of organization building actions that are paramount include: a. Staffi ng the organization b. Building dynamic capabilities and core competencies c. Structuring the organization and work effort A. Staffi ng the Organization 1. No company can hope to perform the activities required for successful strategy execution without attracting and retaining talented managers and employees with suitable skills and intellectual capital. 2.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/28/2011 for the course BUSINESS 205 taught by Professor Lewis during the Spring '11 term at AIB College of Business.

Page1 / 10

2eIM-LN-Chapter10 - Section 6 C hapter Lecture Notes for...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online