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1. How do we link strategic and operational change?
Answer: Hambrick and Cannella present a 5-step approach:
1. obtain broad inputs at the formulation stage
2. assess obstacles at the formulation stage
3. make early attempts at making small changes using the full array of levers including: resource commitments; policies and programme; structure; people and rewards
4. sell the strategy vigorously to everyone who matters - throughout the organisation
5. fine tune, adjust and respond to unfolding events
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In a single period model if shortage cost is four times excess cost then the optimum service level is what percent?
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