Elements of Strategy Implementation and Resource management:
The connections in managing individual contributor resources, prioritizing action, describing the ways of getting there to achieve the ultimate end point
Principle:
Connection between outcome and contribution
Issues:
Thompson & Strickland, 2003
Five step implementation:
- Reallocate resources (needed in new strategies)
- Strategy supportive policies (actions change culture)
- Institute best practice (competitors, heroes, TQM or financial)
- Support systems (innovative might be competitive advantage)
- Motivate (money or not, wholehearted commitment, both stick and carrot, what you measure is what you get)
Kanter, 1989
3 Strategies for large companies
- Restructuring to improve synergy
- Development of joint-ventures / SA to gain new ideas
- Encouragement of intrapeneurship (management balance and reward schemes)
Central vs BU resource allocation:
Rapid growth: overall strategic leader dependent
Stability: ratios for resource allocation in BU
Decline: Centralized
Applications:
To allocate resources needed to achieve vision and strategies
Source of Strategy Implementation and Resource management:
(Thompson & Martin, 2005)