Development of Business Strategy
In your first essay you identified a strategy. Now it is time to execute your strategy so that organizational goals are attained. You also identified some competitive forces that may work against you; in your implementation, this must be taken into consideration.
You should develop a 5 page, APA-formatted paper, in which you explain what strategy you would select, how you would execute the strategy, and answer the following questions:
What will you do to execute your chosen strategy?
o What roles will management play in the execution and implementation of your strategy to strengthen the company’s competitive position?
So, the people within the organization are crucial when implementing and executing strategy. Your strategic plan may have been to compete more heavily in any of the following areas: low cost leadership, differentiation, focused, or quality.
o Depending on what your strategic approach, what kind of qualities will you look for in employees (skills, knowledge, ethics, etc.) that will ensure the success of your strategy?
o What type of characteristics, traits, ethics, etc. must they possess?
o How will you train them?
At the end of strategic implementation, you should have strengthened your company’s competitive position. What will you do as director to continue to increase your company’s strategic position?
o Would you stay on the offensive, defensive, stay in problem-solving mode, delve into the creative and innovative?
o Provide both quantitative and qualitative reasoning for your discussion. This could include how you will measure financials (accounting reports, budgets, etc.), customer and/.or employee evaluations (quantitative surveys), sales reports, etc