Question

Why is strategy implementation important? Give an example. 2 paragraphs

Answer 1

Strategic management is nothing but the process by which the organization define its strategy and allocate its resources appropriately to proceed with the strategy. It is a continuous process of managing the organization in a strategic manner. Strategy implementation refers to the means for execution of strategic plan. This involve designing the organizational structure, allocating resources, taking proper decision and managing the human resources effectively.

Strategic implementation is important to strategic management because: -

• It helps the organization to strengthen the existing strategy or make new strategies as per the business requirements.
• It involves taking important decisions of balancing the strategy with the organizational structure.
• It helps the organization to accomplish the organizational objectives.
• It helps in identifying the gaps or loopholes in strategy formulation.
• It helps the managers to initiate corrective measure once the strategy is implemented.