IVY CATHALINE M.

CALIG-ONAN CBM 130

BSBA-3A 10-13-22

M02: Strategy Implementation

Choose one (1) issue under each of the following functional areas and briefly
explain:

1) Marketing

The Inability to Turn Strategy into Execution

Marketers today must be able to communicate marketing effectiveness

in business terms, while being both strategic and practical in execution.
Strategy is inherently complex, but executing it requires simplicity. According
to some researchers, the typical strategies fail to deliver 50 per cent of their
promised gains because of the ‘strategic-performance gap’ – the inability to
turn the strategy into actionable day-to-day activities. Despite the enormous
time and energy that goes into strategy development, many have little to show
for the effort, and the old adage is true that a strategy without execution is
merely a hallucination.

2) Finance/Accounting

Globalization

As businesses continue to increase in size and complexity across the

world, accounting departments will need to accommodate more and more
international standards and regulations. As technology has made this easier,
accountants find themselves needing to contend with rules and norms
prevalent in both their country of origin and the markets they work in. Local
economic instability, cyber security standards, and tax law changes across
these countries will require adaptable accounting teams and technology that
eases the challenges.

3) Research and Development

Emphasizing product or process improvements

New products and improvement of existing products that allow for

effective strategy implementation is the responsibility of Research and
Development (R&D) management. These individuals are generally charged
with developing new products and improving old products in a way that will
allow effective strategy implementation. R&D employees and managers
perform tasks that include transferring complex technology, adjusting
processes to local raw materials, adapting processes to local markets, and
altering products to particular tastes and specifications. Strategies such as
product development, market penetration, and concentric diversification
require that new products be successfully developed and that old products be
significantly improved.

4) Management Information System (MIS)

Lack of Unified Best Practices

The lack of unified practices is among the top information management

challenges organizations face. If there is no enterprise-wide information
management strategy, individuals will often apply what they regard as correct,
resulting in information that is poorly managed and making locating and
collaborating on it nearly hard. A solid information management plan will
specify how data should be managed from generation through deletion.