Management and Organizational Studies 4410A/B Chapter 7: Chapter 7 notes

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 4410A/B
• Professor: Raymond Leduc

Document Summary

Chapter 7 implementing strategies: mgmt and operations issues. Strategy formulation focuses on the effectiveness while implementation focuses on efficiency. Strategic mgmt often referred to as resource allocation process . Firms should develop a competitor focus at all hierarchical levels by distributing competitive intelligence so that every employees performance becomes a personal challenge. Establishing annual objectives is a decentralized activity that involves all managers of an organization participation is key to acceptance/commitment: annual objectives are essential for strategy implementation because: major instrument for monitoring progress toward achieving long-term objectives. Objectives should be consistent across hierarchical levels and form a network of supportive aims horizontal consistency is. Just as important as vertical consistency of objectives. Characteristics of annual objectives (should always state quantity, quality, cost, time and be verifiable): measurable, consistent, reasonable, challenging, clear, communicated throughout, characterized by time dimension, accompanied by rewards and sanctions.