Implementing strategies effectively are of great importance. The success of a strategy depends on how effectively it is implemented. Elucidate.

All good companies periodically critically evaluate their
business plan, and develop their business strategy. Repeated evaluation on a regular basis is
needed because of the dynamic, ever-changing and evolving business atmosphere and
markets.

Implementation is the means to accomplish the strategy, and
classically involves 6 areas of endeavor.

1. Action Planning: you
must create a list of tasks, time lines for their accomplishment and required
resources.

2. Organizational Structure: Is the company
organizational structure capable of accomplishing the tasks? If not, what changes must be
made?

3. Human Resources: Does the company have managers and workers
with the skills needed to implement the strategy? If not, who should be recruited and
how?

4. Business Plan: Does the strategy and implementation plan fit
within the overall business plan? Does the business plan provide adequate financial support for
implementation of the strategy?

5. Monitor and Control: Develop a
mechanism to monitor and document progress in implementation. Provide a means of
control.

6. Linkage: Unite and coordinate all aspects of the
operation so that the right hand supports the left. Ensure that all components of the company act
in concert, and preferably synergistically to implement the business
strategy.

A business strategy is of no value until it is
implemented. Implementation is to business as execution is to football. Both are needed for the
company or team to thrive.