The Nature of Strategy Implementation
Successful strategy formulation does not guarantee successful startegy implementation. It is always more difficult to do something (strategy implementation) than to say you are going to do it (strategy formulation). Although inextricably linked, startegy implementation is fundamentally different from strategy fromulation. Strategy formulation and implementation can be contrasted in the following ways:
* Strategy formulation is positioning forces before the action.
* Strategy implementation is managing forces during the action.
* Strategy formulation focuses on effectiveness.
* Strategy implementation focuses in efficiency.
* Strategy ...view middle of the document...
Active participation in establishing annual objectives can lead to acceptance and commitment. Annual objectives are essential for strategy implementation because (1) represent the basis for resource allocation; (2) are a primary mechanism for evaluating managers; (3) are the major instrument for monitoring progress toward achieving long-term objectives; and (4) establish organizational, divisional, and department priorities.
Annual objectives serve as guidelines for action, directing and channeling efforts and activities of organization members. They provide a source of legitimacy in an enterprise by justifying activities to stakeholders. They serve as standards of performance. They serve as an important source of employee motivation and identification. They give incentives for managers and employees to perform. They provide basis for organizational design.
Annual objectives should be measurable, consistent, reasonable, challenging, clear, communicated throughout the organization, characterized by an appropriate time dimension, and accompanied by...