Strategy And Strategies Implementation docx.

Running head: STRATEGY AND STRATEGY IMPLEMENTATION
STRATEGY AND STRATEGY IMPLEMENTATION
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STRATEGY AND STRATEGY IMPLEMENTATION1
The literature describes various definitions of the strategies along with various ways
of their implementation. According to the definition of Prof. Porter (1985: 15), A strategy is a
list of actions, which are practical in nature and required for the achievement and sustaining
of a competitive edge in the specific business line by a company. However, this particular
definition of Strategy does not differentiate the actual strategic actions from its
implementation. Lindroos & Lohivesi (2004: 47-48) provides a simple definition on the
implementation of Strategy. According to them, it implies the execution of the previously
formulated strategies successfully. Another similar definition of the implementation of
strategies was provided by Ken Favaro. According to him, the strategies are various plans of
action and decisions that are needed to be subjected to real-life operations (Favaro 2015). The
implementation of a strategy is a very important process, since an error in the implementation
process may nullify the success of a very well-formulated strategy (Gallo 2010). A clear
definition of the proposed change is always an important aspect of strategy development,
which will be introducing various behavioural changes in an organisation.
There are two principal issues associated with a successful strategy implementation,
which are, 1) the ability of Management to display proper leadership during the strategy work
(Norton & Kaplan 2007: 29) and 2) the ability of disseminating the strategy considering
the individual targets, action points and the follow-up mechanisms of each and every
employee (Salminen 2008: 81). The successful implementation of a strategy is largely
dependent on its structure since a concrete structure ensures easy implementation of the
strategy. Proper implementation of strategy makes sure to keep an opportunity open for a
quick reaction against an environmental change (Kamensky 2004: 285-295).
The definitions for both strategy and the implementation plan cover a wide region and
can be proven to be burdensome often. This leads to various difficulties in the strategy work.
The number of concepts available for this ranges from tens to hundreds (Näsi & amp; Aunola