Exam (elaborations)
MNG3702 EXAM PACK
- Course
- Institution
MNG3702 EXAM PACK. 100% TRUSTED Answers, guidelines, workings and references.
[Show more]
Seller
Follow
LADHU
Reviews received
Content preview
MNG3702EXAM PACK
, LEARNING UNIT 1:
INTRODUCTION TO STRATEGY IMPLEMENTATION
Explain what strategy implementation entails, and how it relates to the strategic management
process.
Strategy Implementation/Execution- Its the second phase in strategic management process. It’s the
doing part where both human and non-human factors in the organisation are applied to ensure that
the strategy is executed in line with the devised plans. It is about the processes and actions to
ensure that all aspects of the internal environment are aligned with the chosen strategic direction
and strategy. This stage requires the involvement of the whole organisation and it is an operational
process.
These are the key elements to be considered:
Leadership and culture- a strategic leader must ensure that the culture of the
organisation is aligned with strategic choice
Managing change- requires managing change and change initiatives. Strategy is not
about business as usual
Learning organisation-The organisation must be a learning organisation through its
staff and be willing to share knowledge
Organisational architecture and structure- To create a cohesive strategy, the
implementation components need to be integrated well and the organisation
needs appropriate structure to successfully execute the strategy – structure follows
strategy
Strategy deployment- is the process of managing the strategy implementation
process and the strategic initiatives through programme or project management
Strategic control and risk- Controls systems are needed to ensure both strategic
implementation process and the content of strategy is reviewed. Managing risk gives
an organisation a better chance of implementing strategy successfully
Tip: These concepts make up the entire MNG3702 module
There are four perspectives or approaches on strategy implementation:
1. Strategy implementation as organisational architecture. This perspective views the
organisation as an interrelated set of sub-systems, which must all aligned, in balance and
consistent if a strategy is to be implemented successfully
2. Strategy implementation is about managing planned change (Kurt Lewin and John Kotter’s
model)
3. Strategy implementation as a process of selecting and managing strategic initiatives that
contribute towards the achievement of strategic objectives (strategy deployment)
4. Strategy implementation as organisational adaptation, organisations learn and adapt
organically rather than as part of formal process
MNG3702 EXAM PACK ©
Page 3
,Explain and demonstrate the link between short-term objectives, functional tactics and resource
allocation in strategy implementation/Explain how to translate long-term objectives into short-
term, annual objectives and functional strategies and tactics that will support the achievement of
these short-term objectives
Short-term objectives can be defined as measurable outcomes achievable or intended to be
achieved in one year or less. Short term objectives are translated from long term objectives, they
should comply with the SMART requirements. Short term objectives formulated at lower levels of
the organisation should annually contribute to the organisation ultimately achieving its long-term,
strategic objectives
They aid strategic implementation by:
- Operationising long term objectives
- Acts as a strong motivational force and a means of avoiding conflict and disagreement with
the organisation
- serves a standards for measuring progress and outcomes, providing opportunity for timeous
corrective action where needed
Functional tactics are defined as detailed statements of the means or activities that will be used by
an organisation to achieve short term objectives and establish competitive advantage. They are
necessary to implement competitive business strategies, because they ensure that all
department/functional areas (marketing, finance, human resource, etc) in the organisation work
towards achieving the same goals in the same way.
Functional tactic have three dimensions that shows the link between short term objectives
Time horizon- Functional strategies are based on and generally have to achieve annual
objectives in the immediate future through short-term action plans, because they focus the
attention of functional managers on what is critical and needs to be accomplished and
because they allow functional managers to adjust to changing conditions
Specificity- Functional strategies based on short-term objectives are more specific that
longer-term business strategies. The tactics and action plans for each functional are identity
how managers in each of the areas can accomplish their tasks and achieve objectives in the
short term
Who participates in developing the strategies/tactics-Top management delegates
responsibility for the development and implementation of functional strategies to functional
managers. Functional and operational manager will then develop short-term action plan
Top management will be responsibility for resource allocation such as capital, human, physical and
technological in for a successful strategy implementation.
MNG3702 EXAM PACK ©
Page 4
, Provide practical examples on how a company can apply these concepts and take note this could
be a Multiple Choice Question
Explain the merits (advantages, disadvantages and constraints) of policies and procedures for
strategy implementation. SG p13
-Policies are specific guidelines, methods, procedures, rules, forms and administrative practices
established to support and encourage work towards stated goals
-Policies are characterised by setting boundaries, constraints and limits on all kinds of administrative
actions. They clarify what can and cannot be done in pursuit of an organisations objectives, simplify
decision making and promote delegation of decision- making to appropriate managerial levels. An
organisation’s policies can either assist or block good strategy implementation
-New policies and procedures with a change in strategy or when a new strategy is being considered,
could enhance strategy implementation in the following ways:
Instituting new policies and procedures provides top-down guidance regarding how, by
whom and by when certain tasks need to be done.
Policies and procedures provide the necessary consistency in how particular strategy critical
activities are performed, thus reducing or eliminating uncertainty.
Well-conceived policies and procedures promote the creation of a work climate that
facilitates effective strategy implementation.
Policies ensure quicker decisions by standardising answers based on previous experience.
Policies offer predetermined answers to routine problems.
Policies save managerial time and afford managers a way of avoiding hasty decisions in
changing conditions.
-Think about the effects of new policies in your own company when they is a new strategy in place
-Or consult the tutor for further assistance
Explain the strategic importance of core competencies, resources and capabilities in strategy
implementation.
Resources are the productive assets owned by an organisation. Capabilities can be identified as
either functional activities, or as activities that are part of the value chain. A dynamic capability is a
capability to create a new capability. (Organisational learning and absorptive capacity are examples
MNG3702 EXAM PACK ©
Page 5
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller LADHU. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $2.70. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79064 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now