Subject category:
Strategy and General Management
Published by:
Lagos Business School
Length: 4 pages
Data source: Published sources
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Abstract
This technical note discusses strategy execution. Ultimately the test of all strategy is execution - successful execution. It asserts that implementation must be built into strategy and ultimately the failure of execution is a failure of strategy. Strategy must take into account all relevant variables-resources such as: (1) people; (2) products; (3) competences; (4) environmental; and (5) industry conditions etc. The strategist must make trade-offs concerning: (1) markets; (2) products; (3) firm architecture; (4) culture; (5) people; and (6) sequencing of actions within the ambit of a carefully constructed implementation plan. Usually a failure of strategy reflects a lack of ''fit and consistency'' - in short, an absence of coherence among these critical variables. Finally the note stresses the importance of leadership in execution.
About
Abstract
This technical note discusses strategy execution. Ultimately the test of all strategy is execution - successful execution. It asserts that implementation must be built into strategy and ultimately the failure of execution is a failure of strategy. Strategy must take into account all relevant variables-resources such as: (1) people; (2) products; (3) competences; (4) environmental; and (5) industry conditions etc. The strategist must make trade-offs concerning: (1) markets; (2) products; (3) firm architecture; (4) culture; (5) people; and (6) sequencing of actions within the ambit of a carefully constructed implementation plan. Usually a failure of strategy reflects a lack of ''fit and consistency'' - in short, an absence of coherence among these critical variables. Finally the note stresses the importance of leadership in execution.