Exam (elaborations)
MNG3702 EXAM PACK
- Course
- MNG3702
- Institution
- University Of South Africa
MNG3702 EXAM PACK.. 100% TRUSTED Answers, guidelines, workings, and references
[Show more]
Content preview
MNG3702EXAM PACK
,Learning Unit 1: Introduction to strategy implementation
Explain what strategy implementation entails, and how it relates to the strategic
management process.
Strategy Implementation/Execution - It's the second phase in the traditional strategic
management process. It’s the doing part where both human and non-human factors in
the organization are applied to ensure that the strategy is executed in line with the
devised plans. It is about the processes and actions to ensure that all aspects of the
internal environment are aligned with the chosen strategic direction and strategy.
These are the key elements to be considered:
Leadership and culture - A strategic leader must ensure that the culture of the
organization is aligned with strategic choice.
Managing change - Requires managing change and change initiatives. Strategy
is not about business as usual.
Learning organization - The organization must be a learning organization
through its staff and be willing to share knowledge.
Organizational architecture and structure - To create a cohesive strategy, the
implementation components need to be integrated well, and the organization
needs appropriate structure to successfully execute the strategy – structure
follows strategy.
Strategy deployment - Is the process of managing the strategy implementation
process and the strategic initiatives through program or project management.
Strategic control and risk - Control systems are needed to ensure both
strategic implementation process and the content of the strategy is reviewed.
Managing risk gives an organization a better chance of implementing strategy
successfully.
There are four perspectives or approaches on strategy implementation:
1. Strategy implementation as organizational architecture. This perspective
views the organization as an interrelated set of sub-systems, which must all be
aligned, in balance, and consistent if a strategy is to be implemented
successfully.
2. Strategy implementation is about managing planned change (Kurt Lewin and
John Kotter’s model).
3. Strategy implementation as a process of selecting and managing strategic
initiatives that contribute towards the achievement of strategic objectives
(strategy deployment).
4. Strategy implementation as organizational adaptation, organizations learn
and adapt organically rather than as part of a formal process.
, Explain and demonstrate the link between short-term objectives, functional
tactics and resource allocation in strategy implementation.
Short-term objectives can be defined as measurable outcomes achievable or intended
to be achieved in one year or less. Short-term objectives are translated from long-term
objectives; they should comply with the SMART requirements. Short-term objectives
formulated at lower levels of the organization should annually contribute to the
organization ultimately achieving its long-term strategic objectives.
They aid strategic implementation by:
Operationalizing long-term objectives.
Acting as a strong motivational force and a means of avoiding conflict and
disagreement within the organization.
Serving as standards for measuring progress and outcomes, providing
opportunities for timely corrective action where needed.
Functional tactics are defined as detailed statements of the means or activities that will
be used by an organization to achieve short-term objectives and establish a competitive
advantage. They are necessary to implement competitive business strategies because
they ensure that all department/functional areas (marketing, finance, human resources,
etc.) in the organization work towards achieving the same goals in the same way.
Functional tactics have three dimensions that show the link between short-term
objectives:
Time horizon - Functional strategies are based on and generally have to
achieve annual objectives in the immediate future through short-term action
plans, because they focus the attention of functional managers on what is critical
and needs to be accomplished and because they allow functional managers to
adjust to changing conditions.
Specificity - Functional strategies based on short-term objectives are more
specific than longer-term business strategies. The tactics and action plans for
each functional area identify how managers in each area can accomplish their
tasks and achieve objectives in the short term.
Who participates in developing the strategies/tactics - Top management
delegates responsibility for the development and implementation of functional
strategies to functional managers. Functional and operational managers will then
develop short-term action plans. Top management will be responsible for
resource allocation such as capital, human, physical, and technological for a
successful strategy implementation.
Explain how organizational culture can support and enhance strategy
implementation.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LADHU. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R49,81. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
73918 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now