Strategy Implementation

This chapter aims to demonstrate the process of strategy implementation that includes the elements of strategic goals and objectives, action plans, resource allocation, change management considerations as well as appropriate monitoring and evaluation instruments. While the concept of strategy architecture that comprises various key aspects of a business model can be used to design and communicate a comprehensive corporate strategy, the balanced scorecard (BSC) often finds application in connection with the corporate vision and strategy with operational performance management. Furthermore, strategy implementation implies changes that can lead to resistance among employees – a natural reaction to fear, uncertainty or a lack of understanding. This chapter also entails change management as a management concept that engages employees in the change efforts which enhances their commitment, reduces resistance and increases the likelihood of successful implementation.