Strategy Implementation in Strategic Management MEANS Implementing the chosen strategies i.e the 3rd Element of ‘Strategic Management’ by Johnson, Scholes and Whittington.
Table of Contents
Elements of Strategic Management
Johnson, Scholes and Whittington STATE that Strategic Management consists of three Elements:
- Strategic Position;
- Strategic Choice; AND
- Strategy Implementation.
Strategy Implementation in Strategic Management – Three Aspects
It MEANS Implementing the chosen strategies. There are three aspects:
- Organizing;
- Enabling; AND
- Managing Change.
1. Organizing
An Organisation Structure Must be ESTABLISHED that will help the entity to Implement its strategies effectively in order to achieve its strategic targets. ‘Organizing’ MEANS putting into place a Management structure and delegating authority.
Individuals should be Made Responsible and Accountable for different aspects of the chosen strategies. Decision-making processes Must be established.
2. Enabling
‘Enabling’ MEANS enabling the entity to achieve success through the effective use of its resources.
- Each resource Must be used to support the achievement of strategic objectives. This calls for Efficient Management of resources INCLUDING People (and labor skills), Information, Finance and Technology.
- Strategies should be based on Making full use of the resource strengths of the entity, to achieve competitive advantage.
3. Managing Change
Most Entities exist in a Rapidly-changing environment and they need to ADAPT and change in order to survive and succeed.
Implementing Strategy always Means having to Make changes. ‘Managing Change‘ successfully is therefore an Important aspect of Strategic Management.
Chartered Accountant (Institute of Chartered Accountants of Pakistan)
Bachelor of Accounting Honours (Asia e University, Malaysia)