Question

Question:

Describe and discuss the principal managerial components of good strategy execution?

Your answers will be short essays and should be three full paragraphs or longer.

Answer 1

Ans- Behind every successful business venture/ organization it's their management strategy and more importantly it's proper execution. There are certain managerial components of good strategy execution like effective communication, alignment of mission and vision with formulated strategy, accountability, managing leadership, ethics and values, progress reviews etc.

First and foremost managerial component is communication in good strategy execution. If management used clear, concise and persuasive communication method then chances of success of implemented strategy becomes very high. If formulated strategy is properly aligned with mission and vision statement of the organization, then it create a good image among it's stakeholders, eventually it proves key component of good strategy execution. Accountability of the organization is very important for spotless reputation. This is principle managerial component of good strategy execution, as the organization which is more accountable are highly appreciated for e.g. Microsoft, Apple etc. Managing leadership is very important component as in this initiations of actions, active participation, respective roles and responsibilities, teamwork are managed in order to achieve goals efficiently and effectively.

Apart from above discussed components ethics and values of an organization plays very important strategy execution. As every organization have some certain set of workplace ethics and values. For e.g. if an organization is very ethical with it's employees and makes no discrimination with anyone on any ground, then in such organization cross cultural recruitment will be bountiful strategy. After all form managerial point of view progress reviews are very important in strategy execution. At certain interval of time middle level managers, and top executives should review their implemented strategy. By this they come to know and rectify occurred errors, makes the implemented strategy flawless.

So, these are the principle managerial components of good strategy execution.