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Consider that when you formulate strategy: * there are numerous models and frameworks to guide you * plenty of consultants at hand * you are working with a small group of people * the people you are working with are typically the best in the company * it is an area that has been under the spotlight for many years and has been well tested * it is percieved as exciting In contrast when you implement strategy: * there are very limited frameworks to use * there are also only a few consultants specializing in strategy implementation * implementation invoves changing the behavior and action of almost all, or everyone, in the company * you must find many different ways to communicate the message * it is often perceived as unexciting But remember at the end of the day it is the strategy implementation that deliovers the revenue not the strategy formulation. Robin Website: www.bridgesconsultancy.com
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What else can I help you with?
Strategy implementation considered most difficult stage in strategic management process why?
Strategy implementation is considered the most difficult state in strategic management because it involves change In order to implement, it is essential that all support given by managers and the workforce when this happens, only then can implementation be possible. Hence, as long as the change is not receptive, implementation cannot take place. Therefore, more time is needed to induce the idea of change and this makes it as the most difficult aspects of Strategic Management. (by Ritz).
Where can one learn more about business strategy consulting?
Someone could learn more about business strategy consulting, by going the the website IBM. At this website if you search business strategy consulting, you will find a bunch of information to help you learn more.
Difference between strategy and planning?
In business, strategy is abstract while planning is more concrete. A strategy describes a global path to achieve a goal. Planning on the other hand, is the allocation of resources necessary to accomplish the strategy.
What is the difference between global strategy and multidomestic strategy?
Global strategy is based on a strategy implemtion on the assumption of 'one' global village, thus one strategy is implentated for all countries regardless of their socialcultural differences. Multidomestic strategy means companies implement a strategy that is more responding to local needs, values and demands. This usually happens on a regional basis, e.g. Western European countries or Northern part of Europe.
Can a company survive grow and flourish without a strategy?
Yes, a company can survive without a strategy. There are some companies who intentionally remain without a strategy for strategic purposes. According to Inkpen (1995) this is called 'virtuous absense'. For more information about the absense of a strategy in an organisation, I recommend to read 'The seeking of strategy where it is not: Towards a strategy absense' by Inkpen & Choudhury (1995) Author of this answer: K.Q. Tran
Similarities between policy and strategy?
Generally speaking, the text views policies as the link between strategy formulation and implementation. They are the broad guidelines to be used in the implementation of strategy. The text takes the position that the dividing line between formulation and implementation is the difference between the planning activities of formulation and the action-oriented activities of organizing, directing, and controlling. Since the development of policies primarily involves planning, not action, they more properly belong within strategy formulation.
Strategy implementation considered most difficult stage in strategic management process why?
Strategy implementation is considered the most difficult state in strategic management because it involves change In order to implement, it is essential that all support given by managers and the workforce when this happens, only then can implementation be possible. Hence, as long as the change is not receptive, implementation cannot take place. Therefore, more time is needed to induce the idea of change and this makes it as the most difficult aspects of Strategic Management. (by Ritz).
Which approach do you think should be relied on more heavily for strategy formulation quantitive or qualitative?
The quantitative approach
Which approach do you think should be relied on more heavily for strategy formulation-the quantitative or qualitative approach?
The quantitative approach
What is strategy formulation?
Strategy formulation is vital to the well-being of a company or organization. There are two major types of strategy: (1) corporate strategy, in which companies decide which line or lines of business to engage in; and (2) business or competitive strategy, which sets the framework for achieving success in a particular business. While business strategy often receives more attention than corporate strategy, both forms of strategy involve planning, industry/market analysis, goal setting, commitment of resources, and monitoring.
What services are available from Bigfish?
They offer trial games, online gaming, and downloadable games. Also, they offer strategy guides and walkthroughs for the more difficult games or strategy games.
What are the key challenges in strategy implementation?
Many good plans are doomed to failure because they are not implemented correctly. Strategy must be supported by structure, technology, human resources, rewards, information systems, culture, leadership, and so on. Ultimately, the success of a plan depends on how well employees at low levels are able and willing to implement it. Participative management is one of the more popular approaches used by executives to gain employees input and ensure their commitment to strategy implementation.
What is the reason behind the implementation of the "no uno rule" in the game?
The "no uno rule" was implemented in the game to add an extra layer of challenge and strategy, making the game more engaging and competitive for players.
What are expanding role for management accounting?
Management accountants were "number crushers" in the past, but now are respected business advisors and key players on the management team. They have become "generalists," taking on the broader role in strategy formulation, strategy deployment and other value-added activities. They spend more time understanding product and process technology, operations, systems, marketing and strategy.
Is deductive or inductive research more applicable to policy formulation and policy evaluation?
Inductive research is more applicable to policy formulation and policy evaluation.
Which is better VLSI or DSP codings?
A hardware VLSI implementation of a design will likely run faster than a software DSP implementation of the same design. However the hardware VLSI implementation will usually be more expensive to build and difficult to change if errors are found or the specifications change, so if the speed of a software DSP implementation is adequate the hardware VLSI implementation might impose too much risk on the project. You may need to do a tradeoffs analysis to determine which is the best in your situation.
How does the concept of enurement impact the long-term success of a business strategy?
The concept of enurement, which refers to becoming accustomed to something over time, can impact the long-term success of a business strategy by influencing how well employees and stakeholders adapt to and support the strategy. If individuals within the organization become comfortable with the strategy and its implementation, they are more likely to continue to execute it effectively over time, leading to sustained success for the business.
