Reference no: EM134039080

Assignment:

Components of the strategy execution process

Using below components of strategy execution process. Utilise a CURRENT EVENT and explain each of every component on how the event initiates the components on strategy execution for it to have competitive advantage.

1. Staffing the organization with managers and employees capable of executing the strategy well.
2. Developing the resources and organizational capabilities required for successful strategy execution.
3. Creating a strategy-supportive organizational structure.
4. Allocating sufficient resources (budgetary and otherwise) to the strategy execution effort.
5. Instituting policies and procedures that facilitate strategy execution.
6. Adopting business management processes that drive continuous improvement in strategy execution activities.
7. Installing information and operating systems that support strategy implementation activities.
8. Tying rewards directly to the achievement of performance objectives.
9. Fostering a corporate culture that promotes good strategy execution.
10. Exercising the leadership needed to propel implementation forward.