Assignment 2: Managerial Tasks In Strategy Execution 535754

Assignment 2: Managerial Tasks in Strategy Execution While companies must

Assignment 2: Managerial Tasks in Strategy Execution While companies must tailor their strategy-executing approaches to their particular situation, there are eight managerial tasks which are common elements in executing strategies. Review the eight components of strategy execution and develop a PowerPoint presentation which applies each of these components to an organization of your choice. Include at least three visual elements such as charts or graphs to complement your presentation. Consider the following while developing your PowerPoint presentation: Discuss what is involved in performing the eight key managerial tasks that shape the process of implementing and executing strategy. Explore building resource strengths and organizational capabilities including: marshaling resources, instituting strategy-facilitating policies and procedures, adopting best practices, installing operating systems, and tying rewards to the achievement of good results. Explain what role a company’s culture plays in executing these managerial tasks. Present your findings in an 8-10 slide PowerPoint presentation. Use the notes section to clarify your work. Cite your sources and apply APA standards for writing style to your presentation.

Paper For Above instruction

Strategic management is a nuanced discipline that revolves around effective execution of formulated strategies within organizations. Central to this process are eight managerial tasks that ensure strategies are implemented efficiently and effectively. These tasks serve as foundational pillars guiding an organization from strategic planning to operational realization. In this paper, I will explore these eight components, their practical application within a chosen organization, and the influence of organizational culture on strategy execution.

1. Developing a clear strategy vision and fiscal policies

The first managerial task involves establishing a clear strategic vision that provides direction and purpose. This includes defining the strategic objectives, core values, and long-term goals. For instance, within the organization Apple Inc., vision articulation emphasizes innovation and customer-centricity, guiding strategic initiatives (Lashinsky, 2012). Developing fiscal policies aligned with strategic goals helps allocate resources efficiently, supporting strategic priorities.

2. Building organizational capabilities and resources

Building resource strengths involves marshaling tangible and intangible assets, such as human capital, technological infrastructure, and brand reputation. Apple has invested heavily in research and development (R&D), fostering innovation capabilities that allow it to stay ahead competitively (Hitt, Ireland, & Hoskisson, 2017). Developing organizational capabilities ensures the organization is capable of executing its strategic plans effectively.

3. Instituting strategy-supportive policies and procedures

Implementing policies and procedures that facilitate strategy execution is critical. These include standard operating procedures, performance management policies, and ethical guidelines. For Apple, stringent quality control policies reinforce its commitment to innovation excellence. Such policies streamline processes and ensure consistency in achieving strategic objectives.

4. Installing the right operating systems and information systems

Technology and information systems are vital in coordinating activities and providing real-time data for decision-making. Apple’s iOS and MacOS platforms exemplify operating systems that support product integration and customer experience strategies (Chesbrough, 2010). Effective operating systems enhance productivity and enable rapid responsiveness to market changes.

5. Adopting best practices and benchmarking

Identifying and adopting best practices enhances efficiency and effectiveness. Apple benchmarks against competitors like Samsung and Google, continuously refining its design and innovation processes (Kim & Mauborgne, 2014). Benchmarking facilitates learning from industry leaders and integrating successful processes into organizational routines.

6. Tying rewards and incentives to strategic results

Reward systems that align employee incentives with strategic goals motivate high performance. Apple’s performance-based bonuses and recognition programs reinforce desired behaviors aligned with innovation, quality, and customer satisfaction (Goffee & Jones, 2013). Properly linked incentives foster a culture of achievement and accountability.

7. Cultivating an organizational culture supportive of strategy

Organizational culture profoundly impacts strategy implementation. A culture fostering innovation, openness, and adaptability enhances the likelihood of successful strategy execution. Apple’s culture emphasizes creativity and continuous improvement, which drives employees to align their efforts with strategic priorities (Schein, 2010). Cultural alignment ensures that core values support strategic initiatives.

8. Continuous monitoring and strategic feedback

Effective strategy execution involves ongoing monitoring, performance measurement, and feedback. Apple employs key performance indicators (KPIs) and regular reviews to assess progress and adapt strategies as needed (Kaplan & Norton, 2008). This feedback loop allows organizations to remain agile and responsive to environmental shifts.

Conclusion

Executing strategies effectively requires a comprehensive suite of managerial tasks that align resources, processes, and culture. The interplay between these components determines organizational success. Apple Inc. exemplifies how integrating these managerial tasks and fostering a supportive culture can drive sustained strategic performance. By ensuring that each task is addressed thoughtfully, organizations can better navigate complex strategic landscapes and achieve their long-term objectives.

References

• Chesbrough, H. (2010). Business model innovation: Opportunities and barriers. Long Range Planning, 43(2-3), 354-363.
• Goffee, R., & Jones, G. (2013). Creating the best workplace on earth. Harvard Business Review, 91(4), 108-116.
• Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2017). Strategic Management: Concepts and Cases. Cengage Learning.
• Kaplan, R. S., & Norton, D. P. (2008). The Balanced Scorecard: Translating Strategy into Action. Harvard Business Review Press.
• Kim, W. C., & Mauborgne, R. (2014). Blue Ocean Strategy. Harvard Business Review.
• Lashinsky, A. (2012). Inside Apple: How America's most admired–and secretive–company really works. Hachette Books.
• Schein, E. H. (2010). Organizational Culture and Leadership. Jossey-Bass.