Managerial Tasks in Strategy Execution

Eight components of Strategy Execution

Building a capable organization. In any organization, building a capable organization should be the top main concern. It can be achieved by Appropriately staffing the organization. Building the core competence and competitive capabilities Structuring the organization and work effort The chart below shows how different factors can contribute in building a capable organization Building a capable organization An example of a company is Intel, that has a core competence of Design of complex chips for personal computers To build a capable organization, there is a need of putting together a management team that is strong by recruiting and retaining the talents in an organization. Also, the company can build core competencies and competitive capabilities. A capable organization can also be achieved by matching the structure of the organization to the strategy.

Internal Leadership In the improvement of leadership, the leaders of an organization should acknowledge the gaps that are caused by them turning their attention outside the organization, believing that their subordinate can handle the internal leadership. When the gap is fixed, the company can enjoy benefits which accrue from competitive, profit and productivity in the market.

Shaping the working environment To maximize productivity, the working environment of a company should be shaped. The four main areas that should be shaped are personal space, comfort of the employee, energy of the employees and accessibility to new information and new ideas. (Jākhoṭiyā, 2013).

Rewards and Incentives An organization that rewards the employees for a job well done regarding performance and productivity can be beneficial to both the employee and the employer (Jākhoṭiyā, 2013). The rewards and incentives create a positive working environment for the employees. The rewards can be in the form of money, non-monetary rewards such as working independently or flexible working hours (Hrebiniak, 2005).

Installing the required operating system to enable efficient in the strategy An organization often need the right plans so that it becomes efficient in the accomplishment of their aims. An organization is said to be efficient when it uses the smallest possible expenditure to implement the stated plans (Jākhoṭiyā, 2013).

Adopting the best practices for a continuous improvement. The outcome of knowledge management is best practices. They can be either internally or externally. Internal best practices originates from the internal knowledge management whereas external comes in when a company employs skilled, educated and experienced staff ( Thompson Strickland & Gamble, 2007).

Instituting policies and strategies Thompson Strickland & Gamble(2007) states that when strategies and policies are instituted, there are several benefits that an organization can realize. Some of them are:- Auditing processes become swifter Insurance of standard process, such as banks which use written procedures manuals to standard procedures e.g. customer services. Make training tools to be available to act as introductory to new employees Making re-design process catalysts to be available leading to efficient improvement.

Marshaling the forces for the driving of good execution strategies. Enough funds and people should be set aside so that it can drive the execution of the strategy. As early as in the implementing of a new or different strategy, managers should be aware what resources will be required. The company should be able to marshal the resources and gear them towards the resources. ( Thompson Strickland & Gamble, 2007).

References Jākhoṭiyā, G. P. (2013). Strategic planning, execution, and measurement (SPEM): A powerful tool for CEOs. Boca Raton: CRC Press. Thompson, A. A., Strickland, A. J., & Gamble, J. (2007). Crafting and executing strategy: Text and readings. Boston: McGraw-Hill/Irwin. Hrebiniak, Lawrence G. (2005). Making Strategy Work: Leading Effective Execution and Change. Pearson Education Inc.