Adaya, Reymond

MKT-MGT 4102
Strategic Management
Chapter 7: Strategy Implementation

7.1 Implementing Strategy

I discovered that strategy implementation is the most difficult and time-consuming aspect
of strategic management. Managers should be able to evaluate whether internal business
processes and employee performance are heading in the right direction during strategy execution.
Implementing a strategy also entails assessing the effectiveness of internal processes and
identifying potential areas for improvement in the business. Staffing the organization, allocating
resources, assessing the execution of company procedures, and finally, installing systems to
enable performance are all part of managing the strategy execution process. To sum up, the
importance of implementing a strategy is that it helps the organization to achieve operating
excellence once done effectively and efficiently.

7.2 Strategy Implementation- How to Implement a Strategy

From the video, I learned that strategy implementation is the process of putting into
action the chosen strategy in order to achieve the strategic goals and objectives. It also entails
allocating the company resources to finance the strategy selected by the company which makes it
more challenging and risky at times. The steps in strategy implementation includes
institutionalization of a strategy wherein the strategies should be communicated within the
organization with their acceptance; formulation of action plans and programs, translating
SMART objectives from general to specific, resource allocation, procedural requirements, etc.
With these, we can conclude that strategy implementation is a difficult aspect in strategic
management; however, if the organization were able to formulate a brilliant strategy with its
proper execution, the strategic objectives would be achieved.

7.3 Strategy- Strategy Implementation

I learned that strategy implementation refers to the activities involved in carrying out a
strategic plan, as well as the common pitfalls encountered during the process. During strategy
implementation, it is critical to understand who will carry out the strategic plan, what must be
done to align the company's operations in the desired direction, and how everyone will work
together as one. Meanwhile, the following are the most common issues encountered during
strategy implementation: it took longer than expected, there were unanticipated problems along
the way, poor team coordination, competing activities, insufficient capabilities and employee
training, uncontrollable external factors, poor leadership, and insufficient implementation
activities and information system. Having all these, it is important to take note that strategic
planning should be well-defined with a back-up plan in order to avoid these strategic
implementation pitfalls.
7.4 9 Strategic Management: Strategy Implementation Challenges
 According to the video, it is critical to have a well-defined strategy, key performance
measures, clarified roles and responsibilities, and aligned rewards and recognition when
implementing a strategy. Policies that serve as a guide in decision making should also be
specified. In this regard, strategy implementation entails the identification of various activities
such as programs, budgets, and procedures. Programs are the activities and steps required to
complete the strategic plan, budgets are the resources available to fund the strategies, and
procedures define how the activities will be carried out. On the other hand, some of the strategy
implementation roadblocks include time delays, poor planning and leadership, unanticipated
problems, inadequate planning etc.

7.5 Concepts, Steps, Importance and Problems of Strategy Implementation

In general, strategy implementation can be defined as the process of carrying out a
strategy in order to achieve the goals and objectives of the organization. It takes the chosen
strategy and turns it into action and execution. It is significant to the organization because it
brings about changes that aid in the improvement of a company's performance and the resolution
of a specific problem. Furthermore, it helps to motivate employees because the process involves
them and gives them a sense of belonging and value. It also encourages cooperation among the
company's functional areas and aids in the achievement of organizational goals. On the other
hand, the major issues that could arise during the implementation of a strategy are as follows:
lack of resources, ambiguity of processes, the lack of support, review, communication, and
accountability from the people involved and the wrong choice of a strategy.

7.6 Cascading and Execution

Strategy cascading and execution are the last two parts in the strategic management
process. Cascading the plan entails making informed decisions at all levels of the organization in
order for it to be successfully implemented. The first step is to define which aspects of the
strategy are mandatory, directed, or autonomous at the overall and individual levels, and to
empower employees to apply it to their actions. The strategy is then implemented from the
bottom up, giving managers the opportunity and authority to develop meaningful and relevant
goals as long as they are consistent with the company's overall priorities. Finally, progress must
be monitored and evaluated to ensure that the organization is on the right track and that
employees and managers are carrying out the strategy as planned. The purpose of cascading the
plane is to make everyone aware of the goals and objectives that must be met within a specific
time frame.

7.7 Strategic Planning- Cascading Goals

I learned that cascading goals is a process of structuring the goals of an organization from
top-bottom or vice versa. Strategic goals are set at the highest or executive level, and those goals
cascade down throughout the organization to help guide team and individual-level goals. Every
level of the organization should establish goals that cascade up into the level above it, resulting
in overall alignment. This process in strategic management is critical for the overall efficiency
and effectiveness of the organization as well as each individual employee within it. By
establishing a set of overarching organizational goals that cascade down, you can ensure that
every team and individual is working toward the same set of goals. Cascading goals not only get
everyone on the same page from an organizational standpoint, but they also provide clarity on an
individual level. Employees can understand how their work directly contributes to and impacts
the organization's success if they have clear objectives.

7.8 Roles of Top Management in Strategic Management

I learned that a person or group of people who direct and control an organization at the
highest level is referred to as top management. The organization's policy, mission, vision, goals,
and objectives are developed and designed by top-level management. Furthermore, in order to
run a successful business, all of these things must be framed in a way that is strategically aligned
with the business. They must also provide proper direction in the operations of the business. It is
important to remember that all strategies must be consistent with the company's mission and
vision. Top-level management must also develop all of the company's strategies with the utmost
care. Top-level management must consider all market dynamics related to the business before
developing a strategy for all functional areas of a business. Positions of importance within the
organization. Top-level management must also fill key positions in the organization which is
why staffing must be done strategically by analyzing the employee's knowledge, skills, and
attitude.

7.9 Market Segmentation, Targeting and Positioning.

From the video, I learned the differences between market segmentation, targeting and
positioning. Market segmentation is the process of dividing a market into distinct subsets of
customers based on their needs and purchasing habits. It is commonly classified into four
categories: demographic, geographic, behavioral, and psychographic. It is based on the premise
that a single product item rarely appeals to all consumers and is important in strategy
implementation because it can serve as the foundation for strategies. Following market
segmentation, the next step is to target different segments such as the mass market, segmented
market, and the niche market. Finally, product positioning entails developing schematic
representations that show how your products or services will meet the needs and desires of
specific consumer groups when compared to competitors. Indeed, market segmentation, targeting
and product positioning contribute significantly to strategic management because they serve as
the foundation for strategy implementation.