Verified Document

Strategic Plan Has Been Developed, The Next Essay

¶ … strategic plan has been developed, the next step is to put that plan into action. Implementing the plan requires that the organization outline the different steps that need to be conducted in order to bring the plan to fruition. These steps can include resource acquisition and allocation, initiating projects, gathering information, providing work plans and direction and more. Once the organization has a sense of the work that needs to be done, it must allocate leadership resources to the project. Different leaders and functional heads will need to be appointed to specific tasks, such that every critical task has a specific chain of responsibility. Timelines will need to be set at this point, and adjustments made to the strategy. From there, work plans are created, again with specific chains of responsibility (Chapman, 2004). Beyond the functional level, there also often requires a significant amount of work in terms of leadership and vision, in order to ensure stakeholder buy-in. This occurs through the use of champions who can explain the new direction or project throughout the company, even at the lower levels. Champions create a common sense of mission and inspiration, and this results in a higher level of buy-in. While this is occurring, management will be measuring the progress of the strategy towards quantifiable goals and making adjustments. The congruence between the activities of the lower-level employees and the ultimate goals of the strategy will help to determine how successful the implementation of the strategy is.

Information will generally be shared throughout...

Parts of this document are hidden

View Full Document
svg-one

Managers will have a better sense of how the different components of the strategy fit together, but in general they will ensure that the lower-level employees are performing their set tasks. Each employee, however, will be communicated with in terms of how their own efforts contribute to the overall mission of the corporation. For this form of motivation to be effective, the intrinsic motivation must be towards something that is meaningful for the employee to have a genuine connection to it (Thomas, 2009).
A number of different stakeholders must be considered when implementing strategy, and additionally the interrelationships between the different stakeholders and the different interactions that are undertaken. Employees, managers, executives, partners, suppliers, the Board, customers, shareholders and regulators all must be taken into consideration when formulating and implementing strategy, since most major strategic initiatives will involve some sort of contribution from each.

2.

Porter elaborated on the idea of a generic strategy as a means of achieving success, and one company that has succeed through dedication to cost leadership is Wal-Mart. Cost leadership requires companies to have access to capital, tight controls, investments in process improvement, and a hierarchical structure (Power, n.d). Wal-Mart exhibits all of these characteristics of a cost leader.

The most important attribute for Wal-Mart is process improvement, something that it sells to the consumer as a…

Sources used in this document:
Works Cited:

Chapman. A. (2004). Strategy implementation and realization. Business Balls. Retrieved November 21, 2012 from http://www.businessballs.com/businessstrategyimplementation.htm

Power, D. (no date). Identifying and evaluating business strategies. Planning Skills. Retrieved November 21, 2012 from http://planningskills.com/passwordzone/lecturenotes/unit10.html

Thomas, K. (2009). The four intrinsic rewards that drive employee engagement. Ivey Business Journal. Retrieved November 21, 2012 from http://www.iveybusinessjournal.com/topics/the-workplace/the-four-intrinsic-rewards-that-drive-employee-engagement
Cite this Document:
Copy Bibliography Citation

Related Documents

Strategic Plan- Sweet Reads Since Its Inception,
Words: 1081 Length: 3 Document Type: Business Plan

Strategic Plan- Sweet Reads Since its inception, Sweet Reads has supported a vision of providing excellence in service from exceptional employees. Sweet Read is committed to: Responding to consumers' needs efficiently and exceeding their expectations, Providing competitive pricing, and III. Providing the highest level of on-the-job training to the staff This will earn Sweet Read a reputation of consumer satisfaction and loyalty. Since its formation, the company has worked tirelessly to differentiate itself and

Strategic Plan for a Hypothetical
Words: 4637 Length: 17 Document Type: Term Paper

The fact that the Florida market (and, in fact, the overall market, since market designers can be hired over the Internet and this is, in fact, the type of activity that can pertain to online collaboration) has a reasonable number of marketing designers makes their power sensibly negligible in the equation. The web hosting companies will be in charge with hosting the company's online website and, similar to the market

Strategic Plan for a Technology
Words: 1740 Length: 6 Document Type: Term Paper

As is shown in the low penetration globally an enhanced media platform is also critical for the company to take advantage of these trends. Apple Technology Sourcing and Internal Innovation The company is susceptible to a supply risk for key components. IBM is currently the company's sole supplier of the PowerPC G5 processor, which is used in its current Power Mac, Xserve, and iMac G5 products. Freescale is the sole supplier

Strategic Plan
Words: 10476 Length: 38 Document Type: Term Paper

Reviving a Company: How to Bring New Life to a Mature Business An Independent Learning Project Poly-Metal Finishing, Inc. is a company that has had a successful history of more than thirty years in the metal-working industry, providing complete anodic service to the aerospace, military and commercial sectors. I have worked for this company for eight years and am now part of the management team. With a change in management has come the

Strategic Plan Royal Solar Lightning Company Limited
Words: 1490 Length: 5 Document Type: Essay

Royal Solar Lightning Company Limited Strategic Plan (2018/2019 - 2013/2014) Royal Solar is one of the best renewable energy companies, owing to its spectacular set of values and goals. We mainly supply developing countries with clean sustainable energy. With the current fierce competition, we are experiencing, it behooves us to get back to the drawing board and restructure our organization, in preparation for the new innovative products we plan to introduce

Strategic Plan for a Social Security Administration
Words: 847 Length: 3 Document Type: Essay

Social Security Administration Strategic Plan Social Security Administration Written below is a prelude to Social Security Administration strategy plan. The prelude consists of size, history, location, reason for creation, core areas explored and other relevant roles. The plan is basically aimed at working along with examples taken from federal agencies and to assess the analytical thinking skills of students as well. Size/Locations: At present, what is the size of the organization? At present, it

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now