Develop student skill in the application of strategic concepts and tools to real organizations
Outsource the function requiring the capabilities to a key supplier or another provider.
Collaborate with a firm that has complementary resources and capabilities in a joint venture, strategic alliance or other type of partnership established for the purpose of achieving a shared strategic objective.
Engage in a collaborative partnership for the purpose of learning how the other organization dies things, internalizing its methods and thereby acquiring its capabilities.
Course objective 3
Explain the managerial tasks associated with implementing and executing organization strategy
1. Staff the organization with managers and employees capable of executing the strategy well.
--Staffing is one of the most important components of the strategy execution process. The right employees are the backbone of the organization.
2. Build to the organizational capabilities required for successful strategy execution.
3. Create a strategy-supportive organizational structure.
4. Allocate sufficient budgetary (and other) resources to the strategy execution effort.
5. Institute policies and procedures that facilitate strategy execution. –This is important so that the strategy does not fail.
6. Adopt best practices and business process that drive continuous improvement in strategy execution activities.
7. Install information and operating systems that enable the company personnel to carry out their strategic roles proficiently.
8. Tie rewards and incentives directly to the achievement of strategic and financial targets.
9. Instill a corporate culture that promotes good strategy execution.
10. Exercise the internal leadership needed to propel strategy implementation forward.