The paper "Implementation as the Most Difficult Aspect of Strategic Management" is a great example of management coursework. Strategic management is an ongoing process of specifying the mission, vision and objectives of an organization, developing plans and policies in the form of programs and projects, and allocating resources for their implementation. Strategic management provides managers of businesses with a clear picture of the overall direction that the business out to take in order to achieve strategic consistency. When the actions being implemented are consistent with the management’ s expectations, then there is strategic consistency. Implementation is the most difficult aspect of strategic management.
This is because all stakeholders need to take time to understand with great accuracy, the nature of goals, objectives, mission, vision, plans and policies that need to be achieved in order for the business to achieve a certain end. Moreover, circumstances keep changing, and employees, as well as managers, have to adapt to these new circumstances in order to achieve the set business objectives. Some of the circumstances that may change include economic environment, new competitors, new technology and a new social-political environment. Every business strategy should be sustainable in order to succeed.
Sustainability entails the overall rationale for coming up with the strategy. Sustainability of a business strategy can be determined by simply determining whether key strategic issues have been addressed by the strategic position of the organization. A strategy that makes little economic sense is not a sustainable one. The lack of economic can be as a result of the organization’ s inability to obtain economies of scale within an experience economy. This report highlights how the implementation is the most difficult aspect of strategic management.
In order to support the theoretical notions assessed with regard to this contention, the case study of Lend-Lease Australia, a leading international real estate company based in Australia.
Dess, G., Lumpkin, G. & Eisner, A. (2007). Strategic management: Creating competitive advantages (3rd ed.). New York: McGraw-Hill.
Douglas, T. & Judge Jr., W. (2001). Total Quality Management Implementation and Competitive Advantage: The Role of Structural Control and Exploration. The Academy of Management Journal, 44(1), 158-169.
Gupta, A. & Govindarajan, V. (1984). Business Unit Strategy, Managerial Characteristics, and Business Unit Effectiveness at Strategy Implementation. The Academy of Management Journal, 27(1), 25-41.
Hamel, G. (2002). Leading the revolution. New York: Plume.
Hill, C.W.L. & Jones, G.R. (2004). Strategic management: An integrated approach (2nd Ed.). Sydney: John Wiley & Sons.
Hubbard, G., Rice, J. & Beamish, P. (2008). Strategic management: Thinking analysis action (3rd Ed.). Australia: Pearson Education.
Johnson, G., Scholes, K., & Whittington, R. (2005). Exploring corporate strategy, (7th Ed.). Harlow: Prentice Hall.
Mintzberg, H., Ahlstrand, B. & Lampel, J. (1998). Strategy safari: A guided tour through the wilds of strategic management. New York: The Free Press.
Viljoen, J. & Dann, S. (2003). Strategic management (4th Ed.). Frenchs Forest: Prentice Hall.
White, C. (2004). Strategic Management. Basingstoke: Palgrave Macmillan.