This is the translation of chosen strategy into action so as to achieve goals and objectives.
Stages of Strategy Implementation
1. Communicate strategic plan to all who have not been involved in their formulation. Good communication helps to avoid negative reactions particularly where strategies involve significant change.
2. Obtain commitment from those concerned. This involves disclosure and discussions in consultative meetings and team briefings.
3. Laying down policies that give directions an enterprise will take towards achieving its objectives.
4. Setting operational targets and objectives and ensuring that they are related to corporate objectives.
5. Assigning responsibilities and authority to individuals for achieving set objectives.
6. Changing organizational structure where necessary by creating new vacancies
demolishing existing vacancies and roles that were found irrelevant.
7. Allocation of resources; human capital, financial capital and technological resources in different functions of the organization so as to fulfil the resources needed for strategy implementation.
8. Provide employees with required training.
9. Evaluation strategy where constant monitoring of success of strategies implemented.