Strategic Management Essay

4678 words - 19 pages

KENYATTA UNIVERSITY, SCHOOL OF BUSINESS,
DEPARTMENT OF BUSINESS ADMINISTRATION
MBA: STRATEGIC MANAGEMENT

Company Mission, Social Responsibilities and Ethics

External Environment

Internal Environment

Strategic Analysis and Choice
Possible?
Desired?

Long Term Objectives

Generic & Grand Strategies

Short Term Objectives

Functional Tactics

Policies

Organizational Structure, Leadership and Culture

Strategic Control and Innovation
IMPLEMENTATION OF STRATEGY
TOPIC: STRATEGY IMPLEMENTATION

WAMBUGU JOHN KAMAU

STRATEGY IMPLEMENTATION THROUGH SHORT-TERM OBJECTIVES, FUNCTIONAL TACTICS, REWARD SYSTEMS, AND EMPLOYEE EMPOWERMENT

Introduction
Strategy ...view middle of the document...

(What exactly is to be done).
* Time frame for completion: A clear time frame for completion; when the effort will begin and when its results will be accomplished.
* Accountability: Identification of who is responsible for each action in the plan. This accountability is very important to ensure action plans are acted upon.

Short-term objectives help implement strategy in at least three ways.
* “Operationalize” long-term objectives.
* Discussion about and agreement on short-term objectives help raise issues and potential conflicts within an organization that usually require coordination to avoid otherwise dysfunctional consequences.
* They identify measurable outcomes of action plans or functional activities, which can be used to make feedback, correction, and evaluation more relevant and acceptable.

What are qualities of Effective Short-Term Objectives?

Measurable: Short-term objectives are more consistent when they state clearly: what is to be accomplished, when is it to be accomplished, how is to be accomplished, and how the accomplishment is to be measured.
Priorities: Because of varying degrees of impact short-term objectives may have on strategic success, they must be placed in a hierarchy of relative priorities. Priorities are established through simple ranking based on discussion and negotiation during the planning process and assignment of weights (e.g., 0 to 100 per- cent) to establish and communicate the relative priority of objectives
Linked to Long-Term Objectives: Short-term objectives can add breadth and specificity in identifying what must be accomplished to achieve long-term objectives; the link between short-term and long-term objectives should resemble cascades through the firm from basic long-term objectives to specific short-term objectives in key operation areas.

What are Some Benefits of Short-Term Objectives and Action Plans?
* Short-term objectives give operating personnel a better understanding of their role in the firm’s mission.
* They provide the basis for accomplishing conflicting concerns.
* They provide the basis for strategic control.
* Short-term objectives clarify personnel and group roles.
How are functional tactics used in Strategy Implementation?

Functional tactics are short-term activities each functional area within the firm undertakes to implement the grand strategy. Essentially functional tactics translates grand strategies into specific short-term objectives (Pearce & Robinson, 2011)

Functional Tactics are short responses. They are key, routine activities that must be undertaken in each functional area: marketing, finance, production/operations, R&D, and human resource management to provide the business’s products and services.
Characteristics of functional tactics
* Functional tactics focus on immediate activities
* Functional tactics specify activities and how they are expected to be achieved
* They are established by...

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