Implementation of A Strategic Plan
Strategy implementation is a method by which strategies are operationalized. A manager should implement the strategic plan to achieve defined goals. The formulation of a strategic plan becomes fruitful only after its implementation.
For the implementation of a strategic plan, the manager should form an organizational structure, divide works, and allocate resources. Besides, it involves direction, communication of information, motivation, and coordination of activities of subordinates.
Following are the techniques for the effective implementation of the strategic plan:
#1 Develop An Organizational Structure
For proper implementation of a strategic plan, it is essential to develop an organizational structure. It is a network of assigned tasks, defined roles, and designed relationships among the organizational members.
In the organizational structure, the division of activities, interactions, and behaviors of the members are also specified. It defines the pattern of formal relationships between the superiors and subordinates and also their authorities and responsibilities.
All members concerned should be communicated in the strategic plan for its implementation. All the members of the organization must be clear about their respective duties and responsibilities. It is the part of the top-level managers to communicate all strategic plans to their subordinates for proper implementation.
The technology consists of knowledge, equipment, method, and process implemented for production and distribution. Effective implementation of strategy requires the application of new and advanced technology.
For the introduction of new products, diversification of existing lines, and expansion of business, it is essential to redesign the existing production process and develop new infrastructure facilities.
#4 Provision of Resources
Organizational resources are the main source of implementation of a strategic plan. These resources consist of human, financial, and physical resources and technology. It is the duty of the top management to acquire the required resources for the effective implementation of strategic planning.
#5 Group and Team Work
For effective implementation of the strategic plan is it essential to focus on participative management. The concept of teamwork and group effort must be developed in the organization.
The work should be assigned to different groups consisting of experts of different nature of works. The required authority and weightage of responsibility should be delegated to the team. The top-level management should play the role of a supervisor to provide guidance and suggestion.
#6 Motivating Employees
Motivation is an important tool to inspire and encourage employees. For the effective implementation of strategic planning, there must be a reward and punishment system in the organization.
Rewards may be financial and non-financial. And, the employees should be rewarded on the basis of their efficiency.
Effective leadership is necessary to implement the strategic plan. All the activities of the organization concentrate on the activity of the leader, therefore, a leader must be dynamic and energetic. He has to supervise, guide, motivate, and influence the subordinates for the effective implementation of the strategic plan.
#8 Monitoring and Evaluation
The manager should monitor the activities of subordinates regularly to ensure their performance. Similarly, the actual performance should be evaluated with the planned performance at fixed intervals. The timely evaluation of actual performance achieved with that of planned performance helps to take corrective action which finally contributes to achieving strategic goals.