Question

Shoes Company Strategy: The strategy should include type of strategy to pursue, vision, mission, and objectives (how you will implement your strategy).

Answer 1

A strategy is a way of describing how you are going to get things done.It is less specific than an action plan(which tells who-whant-when)instead,it tries to broadly answer the questions.How do we get there from here.

A good strategy will take into account existing barriers and resources(people,money,power,materials,etc)

Steps for implementing strategy:

i)Communicate and allign:Senior Management(CEO) need to begin with clearly communicating their objectives,which should be driven by the company's value and vision.All employee work should align with company objectives and management's vision for the company.

ii)Drive accountability:The Senior management should be the first to create goals and then share those goals with rest of the company.When CEO(senior management) knows what all teams are working on and how each team being held accountable for their goals and action plans,it will be easier quantify vision and startegy.

iii)Create Focus:One researched revealed that the bigger the number of goals a CEO attempts to set and achieve,the less likely they will be achieved.With that in mind,employees need clear and aligned goals so that they can track their own progress and see how their work contributes to the rest of the company.

iv)Be action oriented:Everyone's daily and weekly focus should be on the very specific tasks they need to achieve to move their goals forward,and those goals need to align with the CEO's vision.

v)Track Process:Regular meetings about tasks should be held with each team to talk about their progress.Whether you are the CEO or just heading up department of a few people,you will ultimately be judged on the results you deliver.While the idea of tackling the implementation of a major strategic plan can be daunting ,getting yourself prepared with the steps above can go a long way towards success.