Implementation of Strategy

            Once the creative and analytical aspect of strategy formulation is over, the managerial priority is one of converting the strategy into something operationally effective. Therefore to bring result, the strategy should be put to action because mere choice of even the soundest strategy will not affect organizational activities and achievements of its objectives. It is to be noted that the requirement of strategy formulation is primarily conceptual and analytical skills while that of implementation is administrative skills. But in real life, the processes of formulation and implementation are intertwined. The formulation of strategy does not end where implementation begins; both should be taken as continuous process. Therefore, it is necessary to understand the total implication of strategy implementation.

            The process of strategy implementation involves the following functions:

1.          Structuring and organizing the available resources in ways that are supportive of strategic accomplishment.

2.          Exercising whatever leadership posture and managerial style is appropriate for the situation.

3.          Developing functional policies for each critical functional area.

4.          Allocation of resources to various strategic business units.

5.          Developing appropriate information system.

6.          Developing and implementing suitable management control system.

7.          Evaluation and review of the strategy.

SWOT-Analysis

The environment in which an organization exists can be described in terms of the opportunities and threats operating in the external environment apart form the strengths and weaknesses existing in internal environment.

            Business firms undertake SWOT-analysis to understand the external and internal environment. SWOT is the acronym for strengths, weaknesses, opportunities, and threats. Through such analysis, the strengths and weaknesses existing within an organization can be matched with the opportunities and threats operating in the environment so that an effective strategy can be formulated. An effective organizational strategy, therefore, is one that capitalizes on the opportunities through the use of strengths and neutralizes the threats by minimizing the impact of weaknesses.

            The four environmental influences could be described as follows.

Strength: Strength is an inherent capacity which an organization can use to gain strategic advantage over its competitors. An example of strength is superior research and development skills which can be used for new product development.

Weakness: A weakness is an inherent limitation or constraint which creates a strategic disadvantage. An example of a weakness is overdependence on a single product line, which is potentially risky for a company in times of crisis.

Opportunity:  An opportunity is a favorable condition in the organization’s environment which enables it to consolidate and strengthen its position. An example of an opportunity is growing demand for the products or services that a company provides.

Threat: A threat is an unfavorable condition in the organization’s environment which creates a risk for, or causes damage to, the organization. An example of threat is the emergence of strong new competitors who are likely to offer competition stiff to the organization.

Environmental Scanning

Business environment consists of the totality of all forces and factors which are external to, and largely beyond the control of individual business firm. Environmental analysis is the process by which corporate planners monitor the economic, political, socio-cultural, technological, and market settings to determine the opportunities for and threats to their enterprises.  In other words, environmental analysis consists of identifying and analyzing environmental influences individually and collectively to determine their potential effects on an organization and the consequent problems and opportunities. Obviously, in this context, analysis consists of tracing the source of any opportunity or threat, to break the whole into parts so as to examine its nature and interrelationship. It is from such analysis that management can make decisions on whether to react to, ignore, or try to influence, or anticipate future opportunities or threats discovered.

System Approach

Introduction:

System approach of management represents new thinking and latest development related to organization and management. A system can be defined as a set of interrelated and interdependent parts arranged in a manner that produces a unified whole. This approach stress that management involves managing and solving problems in each part of organization but doing so with the understanding that actions taken in one part of the organization affect other parts of the organization. The managers must take into account interdependencies, interactions, and interrelationships among the various components of the system on the one hand and internal as well as external realities on the other while making decisions. Thus system approach facilitates both the process of analysis and synthesis and differentiation and integration by relating sub-systems with larger system from the lowest to the highest level.

The enterprises are viewed as procuring and transforming inputs into outputs. The organization transforms inputs into a variety of outputs and offers the same to external environment in the form of products, goods, and services. Sale of outputs provides the necessary energy (feedback) to repeat the system cycle as shown in following figure.

Fig: Organization as open system.

Features:

1.      An organization is a system consisting of four main parts or sub-systems namely task, structure, people, and environment.

2.      The subsystems of the organization system are interconnected and interdependent. Therefore, all parts of the organization must be in balance with one another.

3.      An organization is an open adaptive system which continuously interacts with its environment.

4.      It is the responsibility of management to regulate and modify the system so as to optimize performance. Management have o perform maintenance and adaptation function. Maintenance is concerned with ensuring the stability and efficiency of the system where as adaptation involves adjusting the system to the changing demands of the environment.

5.      An organization has synergistic effect i.e. it is more than the aggregate of its various parts. The focus given on the total system rather than on individual subsystem.

Contributions:

1.      The system approach provides a unified focus to organizational efforts. It gives managers a way of looking at the organization as a whole that is greater than the sum of its parts.

2.      The theory treats an organization as an open system. A closed system imports something form the environment and exports something into the environment where as an open system is in continuous interaction with environment.

3.      System theory is a way of interpreting and integrating management functions (planning, organizing etc.) and movements (scientific management, human relation etc.) in order to analyze how managers organize their thoughts and actions.

4.      It provides a world –view more consistent with the reality of organizational life.

5.      This theory is oriented towards the accomplishment of objective and helps to generate coordinated effort toward accomplishing goals.

Limitations:

            The majority of the scholar agreed that the systems theory has fascinating appeal, but it is yet incomplete. The conceptual framework for understanding organizations provided by the system theory is too abstract. It does not really offer anything now. Managers do understand the interrelationship between different parts and the influence of environment on organizational subsystems. The inter and intra-part interdependence between various organizational subsystems in not recognized by this theory. Additionally, the organization-environment relationships are also taken into account while providing answers to specific management problems.

Emerging Challenge of Management

1. Globalization:

             Today’s economy is globalized in which geographical boundaries of a country have only political relevance: economic relevance has extended beyond this. Globalization of business is helpful in earning profit but at the same time, it creates many challenges for management. Therefore, management practices which are relevant for a company in its place of origin may not be relevant for its operation in other country.

2. Social Responsibility:

            Social responsibility of a business is defined as the obligation of business executives as decision makers to take decision and action which offer not only consumer satisfaction but also citizen satisfaction and welfare. In recent years, due to environmental degradation and inferior quality of goods, public awareness has forced management to act in socially responsible manner. This aspect is now duly incorporated in the corporate mission as well as in the formulation of plans and policies.

3. Technological Development:

            With the technological revolution at present day, the man kind is surrounded with vast amount of data available. There is bulk collection of data and field in such a way that it is available readily when needed for planning, decision-making, and control. Moreover, the management should cope with the ever changing new innovation in the technical field. Management Information System (MIS) became helpful to management in undertaking managerial functions effectively and efficiently.

4. Quality Consciousness

            Quality assurance becomes one of the important aspects in the modern business activities. Increasing concern of customers and consumers’ association put pressure on the organization to improve the quality of goods and services they produce. Quality is a major factor of competition among the organizations now a day. It serves as a base to increase the consumers favor towards the firm. Thus quality management is one of the major challenges of modern management.

5. Change Management:

            Change is law of nature. It is required to manage change properly otherwise it will either be left behind or be swept away by the forces of change. Management of change may be defined as a conscious and concerted effort initiative by those who are in charge of the organization to assess the impact and influence and to formulate dynamic action plan to maintain equilibrium between controllable and uncontrollable forces. The forces of change exert a powerful influence over behavior of management and limit the scope of management.

6. Knowledge Management:

            With the expansion of technologies, knowledge management (KM) has come to assume greater significance. KM can be defined as a systematic way of leveraging information and expertise to improve organizational innovation, responsiveness, productivity, and competency. It is the information acquired by the business process and stored in a common place to be shared by different other processes. Thus it is continuous activities involving acquiring, creating packaging, distributing, applying, and maintaining knowledge. 

7. Work Force Diversity:

            Earlier work force considered to be illiterate and all management activities used to be geared to meet the job demands and expectations based on the illiteracy of worker. Today they are more educated, skill oriented comparatively younger and have high expectations.  Beside this, management has to handle the worker with different socio-cultural background. Thus it is new challenge for management to manage diverse work force of their organization.

8. Workers’ Empowerment:

            The job requirement of present day organization requires more educated and skilled manpower. As a result, difference in the role of manager and operatives narrowed day by day.  Techniques like MBO have ensured workers participation in the planning and decision-making process. Managers have to now perform the role of facilitator rather then boss.          

Principle Of Management

Meaning and Definitions

            The term ‘management’ has several meanings, depending on context and purpose. Almost everyone has opinion about what management is? As a result there is no definition of management on which everyone agrees.

            Management is a vital part of business organization, which helps in accumulation, mobilization, and optimum use of various resources to achieve organizational objectives. The business cannot achieve its goal unless the humans, materials, capital and technical resources are efficiently and effectively utilized. In this sense, management is a body of persons determining the organizational objective organizational objective and performing certain managerial functions like planning, organizing, staffing, directing, coordinating, decision making, and of controlling to achieve the objectives.

            Different writers and experts have defined management differently.

Ø  Marry Parker Follet: “Management is the art of getting things done through people”.

Ø  F. W. Taylor: “Management is knowing exactly what you want people to do, and then seeing that they so it in the best and cheapest way”.

Ø  Koontz and Weihrich: “Management is the process of designing and maintaining an environment in which individuals, working together in groups, efficiently accomplish selected aims.

Ø  Ricky W. Griffin: “Management is a set of activities (including planning organizing, leading and controlling) directed at an organization’s resources (human financial, physical, and information), with the aim of achieving organizational goals effectively and efficiently in a changing environment”.

The above definition present wide verities of ideas about what management is. And after considering all those definitions we can say that “Management is a process of planning organizing, directing and controlling for getting activities completed through and with peoples by the coordinated use of organizational resources to efficiently accomplish the organizational objective.

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planning

planning is setting goals and deciding how best to achieve then. its predetermining future which involves in selecting goals and future course of actions from among various alternatives. it serve as a guide for allocating resources in a coordinates way. thus, it is the process of establishing goals and choosing a course of action for achieving goals.

management

management is the process of getting things done effectively and efficiently through the people and with the people. In other word, it can be define as the art of getting things done through and with people by using the processes of planing, organizing, staffing, leading, and controlling to achieve goals effectively and efficiently in a dynamic environment management is the essence of  organized efforts of people. whatever, the activities are to be performed by people involve in those activities. people who involve in management activities decide how best to use business resources to produce goods and provide services.a single individual cannot perform all management activities.