Discuss critically the importance of strategy implementation and control? What strategic recommendations would you make for an automotive industry company?
strategy management process, is putting formulated strategies into action.
Without successive implementation, valuable strategies deeloped by managers are virtually worthless.
The successful implementation of strategy required 4 basic skills:
INTERACTING SKILL:
Interacting Skill is the ability to manager people during implementation. Managers who are able to understand the fears and frustrations others feel during the implementation of a new strategy tend to be the best implementers. These managers empathize with organization members and bargain for the best way to put a strategy into action.
ALLOCATING SKILL :
Allocating skill is the ability to provide the organizational resources necessary to implementing a strategy.
Successful implementers are talented at scheduling jobs, budgeting time and money, allocating other resources that are critical for implementation.
MONITORING SKILL:
Monitoring skill is the ability to use information to determine whether a problem has arisen that is blocking implementation.
Good Strategy Implementers set up feedback systems that continually tell them about the status of strategy implementation.
ORGANIZING SKILL :
Organizing skill is the ability to create throughout the organization a network of people who can help solve implementation problems as they occur.
Good implementers customize this network to include individuals who can handle the special types of problems anticipated in the implementation of a particular strategy.
Overall , the successful implementation of a strategy requires handling people appropriately, allocating resources necessary for implementation, monitoring and implementing progress, and solving implementation problems as they occur.
Perhaps the most important requirements are knowing which people can solve specific implementation problems and being able to involve them when those problems arise.
STRATEGIC CONTROL:
Strategic Control, the last step of the Strategy Management Process, consists of monitoring and evaluating the strategy management process as a whole to ensure that it is operating properly.
Strategic Control focuses on the activities involved in environmental analysis, organizational direction, strategy formulation, strategy implementation, and strategy control itself – checking that all steps of the strategy management process are appropriate, compatible and functioning properly.
Recommendations for Automotive Industry:
The Automotive companies must improve their process and should be efficient in order to implement their strategies quicker than competitors in times of economic downturns.
The National level Automotive Institute for training on Automotive at International Training Institutes (ITIs) and Automotive Training Institute (ATIs) have to be set up.
The Government of India should promote manufacturing and encourage exports of small cars, multi-utility vehicles, two and three wheelers, tractors and components which infuse necessary foreign currencies to India. Specific measures should be taken for expansion of domestic market.
Government should hike its spending to create more jobs and boost the manufacturing sectors in the country.
The Automotive companies should use their core competencies to overcome turbulent economic times.
The Strategic alliance or acquisitions of Automotive companies encourage the morale of those lost markets and help them to experience a new life in a given bridge of time through collective efforts. The reason for acquiring the businesses is seen as a dependable strategy by the companies in a period of economic downturn.
Advertising is an important factor for the Automotive companies to overcome economic downturns as it helps the affected companies to showcase their products in the market.
The Automotive companies have to come out with new innovative products to attain advantage over their competition in the market. They must do it on priority and development of the most promising products should meet the immediate needs of their customers.
The Automotive companies have to re-evaluate the marketing plan and business strategies as and when needed.
Discuss critically the importance of strategy implementation and control? What strategic recommendations would you make for...
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