Implementation and implementation of the strategy

The implementation and implementation of the strategy require the selection and implementation of specific actions to achieve the planned results, i.e. the transformation of the theoretical strategy into a set of specific activities. It is aimed at solving a number of problems:

Creation of an organization capable of effectively implementing the chosen strategy; Allocation of the company’s resources to strategically important links of the value chain in such a way that the units responsible for the implementation of strategically important activities and initiatives receive enough people and finances to fulfill the tasks; Development of policies and procedures in support of the strategy; Informing employees about the revision of the strategy; Creation of conditions for the company’s personnel to effectively perform strategic tasks through the introduction of information, communication, operational and electronic systems; Incentives for employees to effectively implement the strategy; if necessary, changes in job descriptions and work procedures; Binding the remuneration system to the achievement of the set goals and the effective implementation of the strategy; Creation of a corporate culture that stimulates the implementation of the strategy; Implementation of best practices and policies of continuous improvement; Creation of a system of formal and informal leadership to improve the implementation of the strategy.

Effective implementation of the strategy requires an appropriate internal organization of the company, business practices, organizational capabilities, remuneration system, corporate culture. If all this is present, the company easily achieves the necessary results.

The task of implementing and implementing the strategy is the most difficult and lengthy. It affects all aspects of management and is solved literally in all divisions of the company. Work on the implementation of the strategy begins with the search for areas where performance improvements are possible. Full implementation of the strategy can take from several months to several years.