tailieunhanh - Lecture Strategic Management: Lesson 4 - Executing a strategy

Lesson 4 – Executing a strategy has outline Superior strategy execution – another path to competitive advantage. Gain command of what managers must do to build an organization capable of good strategy execution; Learn why resource allocation should always be based on strategic priorities; Understand why policies and procedures should be designed to facilitate good strategy execution. | Lesson 4 – EXECUTING A STRATEGY Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1 LESSON 4 - OUTLINE Superior strategy execution – another path to competitive advantage LO1 Gain command of what managers must do to build an organization capable of good strategy execution. LO2 Learn why resource allocation should always be based on strategic priorities. LO3 Understand why policies and procedures should be designed to facilitate good strategy execution. LO4 Understand how process management programs that drive continuous improvement help an organization achieve operating excellence. LO5 Recognize the role of information and operating systems in enabling company personnel to carry out their strategic roles proficiently. LO6 Learn how and why the use of well-designed incentives and rewards can be management’s single most powerful tool for promoting operating excellence. LO7 Gain an understanding of how and why a company’s culture can aid the . | Lesson 4 – EXECUTING A STRATEGY Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1 LESSON 4 - OUTLINE Superior strategy execution – another path to competitive advantage LO1 Gain command of what managers must do to build an organization capable of good strategy execution. LO2 Learn why resource allocation should always be based on strategic priorities. LO3 Understand why policies and procedures should be designed to facilitate good strategy execution. LO4 Understand how process management programs that drive continuous improvement help an organization achieve operating excellence. LO5 Recognize the role of information and operating systems in enabling company personnel to carry out their strategic roles proficiently. LO6 Learn how and why the use of well-designed incentives and rewards can be management’s single most powerful tool for promoting operating excellence. LO7 Gain an understanding of how and why a company’s culture can aid the drive for proficient strategy execution. LO8 Understand what constitutes effective managerial leadership in achieving superior strategy execution. . SUPERIOR STRATEGY EXECUTION—ANOTHER PATH TO COMPETITIVE ADVANTAGE Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 5 Crafting versus Executing Strategy Crafting the Strategy Primarily a market- driven activity Successful strategy making depends on Attracting and pleasing customers Outcompeting rivals A firm’s collection of resources and capabilities Executing the Strategy Primarily an operations- driven activity Successful strategy execution depends on management’s ability to Direct change Improve operations Build a strategy-supportive culture Get things done and deliver good results 6 6 Good strategy execution requires a team effort. All managers have strategy executing responsibility in their areas of authority, and all employees are active participants in the strategy execution process. Who Is