Strategic Execution and Implementation - PDF
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Added on 2020-05-28
Strategic Execution and Implementation - PDF
Added on 2020-05-28
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Running head: STRATEGIC EXECUTION AND IMPLEMENTATION Strategic Execution and ImplementationName of the Student Name of the University Author’s Note
1STRATEGIC EXECUTION AND IMPLEMENTATIONExecutive SummaryThis particular study has focused to provide a deep insight on how VTB has expanded theirbusiness process by executing innovative strategic plan. VTB Russia is one of the mostrecognizable global financial service providers occupying a dominant place in the bankingindustry. In quest of business expansion in various CIS countries like Armenia, Ukraine, Belarus,Kazakhstan, Azerbaijan, Austria and Germany, VTB has implemented different managementstyles and organizational structure. The responsibility of business experts is to maintain businesssustainability in the market. While providing effective services in the market of Russia, VIB has analyzed on how they cancontinue and maintain the standard of products and quality of services. The study has focused tohighlight some of the major issues that VTB is facing right now while executing business plansand policies. Based on the issues identified within the study, some of the major recommendationshave also been provided for rendering an effective change within the services in order to reachthe peak of business success.
2STRATEGIC EXECUTION AND IMPLEMENTATIONTable of Contents 1. Current strategy in terms of organizations’ mission:...................................................................32. Obstacles of strategic execution:.................................................................................................53. Process of translating strategy into action:..................................................................................64. Strategic risk management and development of strategic performance management.................85. Designs and systems of organizations aligned with the strategies............................................116. Management style:.....................................................................................................................128. Recommendations:....................................................................................................................13Reference List:...............................................................................................................................15
3STRATEGIC EXECUTION AND IMPLEMENTATION1. Current strategy in terms of organizations’ mission: VTB Russia is one of the most recognizable global financial service providers occupyinga dominant place in the banking industry. The business experts of VTB Russia have expandedtheir wings all over the CIS countries such as Armenia, Ukraine, Belarus, Kazakhstan,Azerbaijan, Austria and Germany. People of various geographical backgrounds are aware of theservice process of VTB Russia. The most effective shareholder of VTB Bank is RussianGovernment, which owns 60.9% of voting shares (Vtb.com 2018).The primary mission of thisspecific company is to deliver effective services by maintaining superior quality of theirproducts. The current strategy that VTB Russia tends to follow is 5Cs strategy for executing theentire process of business successfully. Fine Cs strategy includes:Causality:Every business organization has to face innumerable barriers in executing a strategic planproperly. VTB especially intends to face a gap between plan and action. Causal logic primarilyaims to align projects with strategic objectives ‘bottom-up’ – not every legitimate activityemerges from ‘top-down’ planning. Criticality:Business organization like VTB has to implement innumerable strategies within thebusiness process (Srivastava and Sushil 2013). As a result, the business managers have to facedifficulties in executing every single business strategy effectively. This very specific stage ishelpful to critically analyze the pros and cons of various business plans for reducing complexity. Compatibility:
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