Assignment 2: Managerial Tasks In Strategy Execution 585210

Assignment 2: Managerial Tasks in Strategy Execution While companies mu

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. Use the following file naming convention: LastnameFirstInitial_M4_A2.ppt. By Wednesday, July 19, 2017 , deliver your assignment to the M4: Assignment 2 Dropbox .

Paper For Above instruction

The execution of corporate strategy is a complex process that demands a comprehensive understanding of managerial tasks essential to translating strategic plans into operational results. Among these, eight key managerial tasks form the backbone of effective strategy execution: setting strategic objectives; aligning organizational structure; allocating resources; establishing policies and procedures; implementing best practices; installing operating systems; motivating and rewarding personnel; and monitoring progress. Applying these tasks in a real-world context illuminates their importance in driving organizational performance.

1. Setting Strategic Objectives: The foundation of effective strategy execution involves clearly defining strategic objectives that align with the company's mission and vision. These objectives provide focus and measurable targets. For example, Tesla's goal to accelerate the world's transition to sustainable energy guides its strategic initiatives and offers a clear benchmark for success (Higgins, 2018).

2. Aligning Organizational Structure: Organizational structure must support strategy. Firms often realign reporting relationships and departmental responsibilities to facilitate strategic priorities. Amazon, for instance, reorganized into small, autonomous teams called "two-pizza teams" to foster agility and innovation (Stone, 2013).

3. Allocating Resources: Effective resource marshaling ensures critical assets like capital, talent, and technology are allocated to priority initiatives. Apple, by investing heavily in research and development, sustains innovation that aligns with its competitive strategy (Lashinsky, 2012).

4. Establishing Policies and Procedures: Policies guide decision-making and operational consistency. Marriott International’s comprehensive service standards exemplify how policies can reinforce a strategy oriented toward customer satisfaction and consistency (Ghemawat, 2017).

5. Implementing Best Practices: Adoption of industry best practices enhances efficiency and performance. Toyota’s application of lean manufacturing principles significantly improved quality and cost efficiency (Liker, 2004).

6. Installing Operating Systems: Operating systems, including performance management systems and IT infrastructure, underpin strategy execution. Walmart’s sophisticated supply chain management system exemplifies an effective operating system facilitating just-in-time inventory (Corbett & Klassen, 2006).

7. Motivating and Rewarding Personnel: Employee motivation through rewards links individual performance to strategic goals. Google’s innovative compensation structure incentivizes creativity and innovation aligned with corporate strategy (Schmidt & Rosenberg, 2014).

8. Monitoring Progress: Regular monitoring via performance metrics and feedback mechanisms ensures strategic initiatives stay on track. Netflix’s use of data analytics to monitor customer engagement exemplifies ongoing strategy adjustment (Hastings & Meyer, 2020).

Building resource strengths and organizational capabilities is vital for strategy success. This includes marshaling resources effectively—such as financial capital and human talent—creating policies that facilitate strategic alignment, adopting industry best practices, and installing robust operating systems. Reward systems designed to motivate achievement of strategic goals foster accountability and continuous improvement. For example, IBM’s strategic transformation involved developing new capabilities in software and services, supported by targeted investments and employee incentives (Harreld et al., 2007).

Organizational culture plays a pivotal role in strategy execution. A culture supportive of innovation, accountability, and continuous learning enhances the effectiveness of managerial tasks. Google’s culture of openness and experimentation fosters innovation, aligning organizational values with strategic objectives (Schmidt & Rosenberg, 2014). Conversely, a toxic or rigid culture may impede change initiatives or strategic realignment.

In conclusion, effective strategy execution hinges on systematically performing the eight managerial tasks, building organizational capabilities, and fostering a culture that supports strategic initiatives. Leveraging these elements enables organizations to translate strategic plans into tangible results, achieve competitive advantage, and ensure long-term sustainability.

References

• Corbett, C. J., & Klassen, R. (2006). Extending the Horizons: Environmental Supply Chain Management. Journal of Supply Chain Management, 42(4), 50–62.
• Ghemawat, P. (2017). Redefining Global Strategy: Crossing Borders in a World Where Differences Still Matter. Harvard Business Review Press.
• Hastings, R., & Meyer, J. (2020). No Rules Rules: Netflix and the Culture of Reinvention. Penguin Publishing Group.
• Harreld, J. B., O'Reilly III, C. A., & Tushman, M. L. (2007). Dynamic Capabilities at IBM: Driving Strategic Change. California Management Review, 49(4), 62–89.
• Higgins, J. M. (2018). The Strategic Management Workbook. Pearson.
• Lashinsky, A. (2012). Inside Apple: How America's Most Admired--and Secretive--Company Really Works. Business Plus.
• Liker, J. K. (2004). The Toyota Way: 14 Management Principles from the World's Greatest Manufacturer. McGraw-Hill.
• Schmidt, E., & Rosenberg, J. (2014). How Google Works. Grand Central Publishing.
• Stone, B. (2013). The everything store: Jeff Bezos and the age of Amazon. Little, Brown and Company.
• Higgins, J. M. (2018). The Strategic Management Workbook. Pearson.