Strategy Implementation

Strategy Implementation is the process by which a company integrates its structure, resources, systems, and operations into a real action plan applied across the entire organization, including all departments. Reinforcing strategies that have been successful in the past and are expected to bring further benefits is also considered part of strategy implementation.

Major actions in the strategy implementation process:

1. Determine objectives and tasks on an annual basis.
2. Formulate guidelines for executing strategies.
3. Allocate sufficient resources to strategy-critical activities.
4. Carry out established objectives and tasks.
5. Monitor and manage activities or strategies at different levels of the company.

Strategy execution takes place only after scanning the external environment, conducting a SWOT analysis, and identifying strategic issues. Efficient implementation relies on five key attributes that must be present for a company to execute strategies as planned:

1. People. The organization must have the right number of employees with the necessary skills, knowledge, and competencies for transformation.
2. Resources. This includes both financial and non-financial resources, whether readily available or required for strategy execution (e.g., money and time).
3. Structure. Each employee should clearly understand their reporting hierarchy. A well-defined and effective communication system within the company is essential.
4. Systems. Tools, techniques, and competencies must be identified to facilitate the execution of the strategy.
5. Culture. The organizational environment should promote mutual respect. Employees should feel valued, engaged in the strategy implementation process, and provided with a comfortable work atmosphere.

To ensure that the execution of strategies is efficient, it is highly recommended to take the following steps into account:

1. Assess and engage in discussions regarding the implementation plan.
2. Establish the structure and define the necessary stages.
3. Develop support programs to facilitate the implementation process.
4. Allocate financial and non-financial resources
5. Carry out the planned actions.

Strategy implementation can be encountered in organizations of all sizes, from mid-sized companies to the largest enterprises, as smaller businesses tend to rely more on instincts rather than a strategic plan.

Major trends in execution strategies are evident both in strategy itself and in the way implementation is carried out. More companies are leveraging big data and artificial intelligence to adapt to increased automation and visualization. Agile methodologies are gaining traction at the C-suite level, as executives recognize how this mindset and practice can help organizations adapt and modify strategies more quickly.

The adoption of mobile, cloud, and data technologies is transforming how companies manage projects and complete work. Due to the inevitability of change across all industries, the responsibility of managing change is no longer confined to the HR department. As a result, dedicated change management teams are being established.