Strategy Implementation.pptx

Strategy Implementation.pptx

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  STRATEGY IMPLEMENTATION Strategy Implementationrefers to the execution of the plans and strategies, so as to accomplish the goals of the organization. It converts the opted strategy into the moves and actions of the organisation to achieve the objectives. Strategy implementation is the technique through which the firm develops, utilises and integrates its structure, culture, resources, people and control system to follow the strategies to have the edge over other competitors in the market.
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  PROJECT IMPLEMENTATION  Projectimplementation is the implementation phase of a project plan that focuses on taking action.  Project objectives and scope  Project deliverables and deadlines  Team responsibilities  Risk and resource management  Key Performance Indicators (KPIs)
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  PROCEDURAL IMPLEMENTATION  ProceduralImplementation deals with the different aspects of the regulatory framework that Indian companies have to consider.  Any organisation which is planning to implement strategies must be aware of the regulatory framework within which the plans, programmes , and projects have to be approved by the government (central and state).
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   Following theprocedures laid down for implementation constitutes an important component of strategy implementation in the Indian context :  Licensing Procedure  Foreign Collaboration Procedure  FEMA Requirements  MRTP Requirements  Import and Export Requirements  Incentives and Facilities Benefits  Pollution Control & Labour Legislation Requirements
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  LICENSING  The systemof planning rests on three policy documents  Section 30 of the IDR Act, 1951 deals with the Registration &Licensing of industrial undertaking rules.  Under this Act, a license is necessary for establishing a new unit, manufacturing a ‘new article’, substantial expansion of capacity in existing business, and changing location.  Industrial Policy Resolution, 1956 Industries (Development& Regulation) Act, 1951 Industrial Licensing Policy,1973
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  LICENSING PROCEDURE  Thelicensing procedure requires the applicant to approach the Secretariat for Industrial Approvals (SIA), which is common for receiving & processing all types of applications related to industrial projects.  Composite applications are dealt by the Project Appraisal Board  Application considered by a number of govt. agencies &ministries before a Letter of Intent is issued.  After conditions are fulfilled , the Letter of Intent is converted into an industrial license.
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  FEMA  An Actto consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India.
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  POLLUTION CONTROL ANDLABOUR LEGISLATION REQUIREMENTS  The Govt. of India has passed several laws relating to the protection of environment. The business organizations should have a good knowledge of such laws few of them are as follows:  The Water (Prevention & Control of Pollution) Act, 1974.  The Air (Prevention & Control of Pollution) Act, 1981.  The Environment Protection Act, 1986, etc. The Govt. of India has passed several laws to protect the interest of the workers. The Factories Act, 1948.  The Workmen Compensation Act, 1923.  The Bonus Act, 1965.  The Minimum Wages Act, 1948.  The Industrial Disputes Act, 1947
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  RESOURCE ALLOCATION  Resourceallocation is the process of strategically selecting and assigning available resources to a task or project in support of business objectives.  Profitable engagements  Client satisfaction  Staff retention
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  BEHAVIOURAL IMPLEMENTATION Successful strategypreparation does not assure the effective implementation of the same. To implement strategy effectively the organisation needs discipline, motivation and hard work from all the employees in the organisation. Managers have to play a very critical role in the implementation of strategy. They need to see if the resources of the organisation are aligned properly and the critical aspects of organisation like leadership, power and culture are managed properly so that the employees work in a united manner in the realization of the company's objectives.
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  ASPECTS OF BEHAVIOURALIMPLEMENTATION
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  1) Leadership : Leadershipplays an important role in implementation of strategy in an organisation. The leadership plays a critical role in the execution and leader through his personal traits acts as a catalyst within the structure of the organisation. The transformation of strategy from a good concept to actual implementation is made possible only by the leadership of the organisation. 2) Corporate Culture : The culture of the organisation is the environment which prevails through the interactions of the various employees. It is defined by the experiences, education, mind-set, attitudes, beliefs, strengths and weaknesses of the employees of the organisation. The leaders contribute to the leadership aspect of the organisation whereas the employees create the culture of the organisation.
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  3) Social Responsibilities: Social responsibility is a concept which states that every entity individual or organisation has a responsibility to the society that it exists in and its actions should benefit the society. The entity needs to see that all its actions maintain a balance between the economy and the ecosystem. 4) Power and Politics : The power denotes the ability of a person to influence the behaviour of another person. A person who has the power can influence the behaviour and actions of other people in the organisation. It denotes a sense of control. The supervisory aspect in a manager bestows on him the power his subordinates and get influence him to do what he wants. Politics on the other hand is the manner in which a person gains power over another. It is thus the process of acquiring power in an organisation to attain some desired objective.
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  5) Ethics : Ethicsin management refers to "the study of how personal moral norms apply to activities and goals of a commercial enterprise. It thus relates the goals and objectives value of the organisation to the personal systems of the individual. To incorporate ethics in business strategy managers have to ask three questions - What do we stand for? What is the objective? What kind of values do we have? 6) Values : A value system is a framework or a set of ideals which govern the person's behaviour. In a sense they are similar to attitudes but are more permanent in nature and not easy to change. A value may be defined as "a concept of a desirable, an internalized criterion or standard of evaluation a person possesses. Such concepts and standards are relatively few and determine or guide an individual's evaluations of the many. objects encountered in everyday life".