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Question 71
During strategy implementation, the formal system of reporting must have certain characteristics to have value. What are these characteristics and how are they of value? [3 Marks]
Expert Answer
sSrategy implementation is the process of implementing strategies so that the company attains the competitive advanatage.During the implementation of the strategy,every member of the organisation is involved to ensure the success of the strategy.The few characeristics of the formal system of reporting during strategy implementation are:
- each member must have a good idea of the decisions and actions for which they are responsible
- the important information about the competitive environment is passed to higher organisational structure quickly
- decisions once made are rarely second guessed
- there is a free flow of information in the organisation
These characterstics add value to the overall implementation and execution of the strategy.If there is a proper channel of communication followed in the organisation,there is no chance that the information doesn’t gets spread and in a positive way.Also the faster the execution ,better are the outcomes of the execution.
