Question

Please define and explain Structuring for Strategy Implementation as well as providing real world examples

Answer 1

Strategy:

Strategic management is a process through which the vision, mission and goal of an organization is set and defined. Once formulated then organizations continuously thrives to achieve the same through set policies and procedures which means strategy implementation.

Structuring for Strategy implementation:

While implementing the strategy the below mentioned steps has to be followed:

1. Communication: Once strategy is framed it needs to be effectively communicated to the entire organization right from the labours to the management team. Only when everyone has clarity on what are the strategies they would thrive to achieve the same.

2. Resources: Allocating resources comes next wherein the team in order to work towards the strategy should be allocated with tasks, sub tasks, tools, equipment etc.

3. Policy Framing: Framing policies and procedures would be next step in implementation which guides the team members towards achievement of the strategy.

4. Budget: Keeping an eye on the financial aspects like budgeting, cost management, etc is also very important part of implementation.

Example:

One example where the implementation of strategy was effectively carried out was when Lenovo took IBM computer business. Lenovo acquired IBM’s computer business.

1. Build communication: Lenovo is a Chinese company and IBM is an American MNC. Hence there was a major difference in communication. After acquisition this had to be sorted out by setting language translators and by aligning and bringing one communication mode.

2. Resources: Chinese had an autocratic style of leadership and Americans had democratic style of leadership. Hence this was looked into and sorted out by merging both the styles.

3. Diversification Policy : There were cultural differences between the two organization and this was sorted out through diversification policy