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How to implement a strategy properly?

While it is very important that a good strategy should be formulated, it is also very important that a strategy should be implemented properly. Therefore, the below mentioned steps can help in implementing a strategy properly.

1. Proper communication of strategy: The first step that needs to be ensured in the proper implementation of a strategy is that it should be effectively communicated to the managers who have the responsibility of making decisions in the organization. It is very necessary that the strategies adopted by the organization are communicated and understood in the same way in which the framers of the strategy wants them to be, otherwise desired results cannot be achieved from these strategies. For example the top-level management of the company is clear regarding the strategy and the results that are expected to be achieved by such a strategy but if this information has not been properly communicated to the relevant managers, these objectives may not be achieved by the strategy.

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How do we evaluate the strategies?

The success of an organization depends on several factors which include the strategies adopted by the organization. In this way, formulating the most appropriate strategies for the organization becomes a significant task of the top management. At the same time, it is also very important that the strategies adopted by the organization are carefully evaluated in order to see if these strategies are proving beneficial for the organization or not. The below mentioned standards can be used to decide if a strategy has proved to be successful or not.

1. Consistency: A successful strategy should play a role in creating consistency in the organization. The reason is that a wide range of policies, programs etc. are used in an organization with a view to smoothly run the day-to-day operations of the organization. Therefore, it is very important that the strategies adopted by the organization should fit with the internal management of the organization and does not disturb the other aspects of its operations. In the same way, the strategies adopted by the organization should not be inconsistent with the policies adopted by the organization.

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What are the steps in Strategy Formation?

Steps in strategy formulation: While making a strategy for an organization, the below mentioned process has to be followed:-

1. Clarifying the objectives and values of the organization: a strategy is related with the mission and values of the organization. The mission of an organization can be described as the purpose for which the organization has been established. In this way, it is necessary that the mission of the organization should be clearly defined and at the same time, it should also be communicated to all the members of the organization. All the decisions have to be taken by the managers keeping in view the objectives of the organization and in the same way; strategies are also required to be created for achieving these objectives. The objectives of an organization provide the guidelines that can be used while making the strategies for the organization at different levels. In the same way, the values followed by an organization also help in creating the most appropriate strategies for the organization. For example, while creating strategies for the organization, the managers should keep in mind the likely customers of the organization and also the types of needs that are going to be satisfied by the organization.

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What are various types of Strategies?

Generally, the below mentioned types of strategies are used by the organizations.

1. Stability strategy: this type of strategy is used by an organization in cases where the organization is satisfied with the current situation and therefore it does not want to move away from such a position. Consequently, in such a case, the organization goes for the stability strategy. However a stability strategy can prove to be effective when the environment of the organization is also stable. In most of the cases, this type of strategy is used by the organizations. The reason is that it is the least risky course of action. For example, the stability strategy will be adopted by an organization if it is satisfied by dealing with the same product or service, providing its services to the same group of consumers and maintaining the same market share. Sometimes, the organization is not adventurous enough to try new strategies and change its situation. However, the stability strategy can be adopted successfully by the organizations from a mature industry that has a static technology. But as a result of adopting the stability strategy, the managers may become complacent. In the same way, whenever a change arises in such an organization, the managers find it difficult to deal with such changes.

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What is Strategy and what are its features?

A strategy can be described as an action plan that provides a direction that has to be adopted by the organization in order to achieve its objectives. In this way, strategy is a decision-making choice and it involves the consideration of the strengths and weaknesses of the organization and also the external environment that has an impact on the organization. While in the past, strategy was mainly used by the military but now, it has become an integral part of the business organizations also. In case of business organization, a platform is required to consider the plans and policies that have been adopted by the competitors and then the plans of the organization have to be modified in such a way so that the superiority of the products or the services of the organization can be established. At the same time, strategy also helps in deciding the objectives of the organization as well as the way in which the resources of the organization have to be deployed in order to achieve these objectives.

In this way, strategy is related with deciding the long-term goals of the organization and also the adoption of a course of action and allocating the resources that are required to achieve these goals. Therefore a strategy is a broad plan that can be used to take the company to the position where it wants to be in future from the place where it is at present.

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What are the Limitations of Policies?

Policies can be described as the guidelines that have to be used in the day-to-day functioning of the organization. However, the policies do not provide instant answers regarding all the problems that are being faced by the managers. In this way, there are certain limitations that are present in case of policies.

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Comparison of objectives and policies

There is a difference between the objectives and the policies of an organization. In this part, an attempt has been made to compare the objectives and the policies of the organization. For example, there is a difference between the meaning of objectives and policies. While the objectives can be described as the goals that have to be achieved by the organization, on the other hand, policies can be described as the tools that are used for achieving the objectives of the organization. In the same way, another difference that is present between objectives and policies is related with their need for the organization. While objectives can be described as the foundations of the organization and therefore, any organization without an objective is directionless as it will not be aware of the goals that have to be achieved by it and the direction in which it needs to go. On the other hand, policies provide the means that can be used by the organization to achieve these goals. In this way, while policies are essential for achieving the goals of the organization but they are not indispensable.

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Explain various types of Policies?

In order to ensure the smooth operations of the organization, the managers have to formulate and implement a number of policies in the organization. Mainly these policies can be classified as:-

Major policies: the major policies of the organization can be described as the policies that are used for providing a unified direction to the organization and which require the commitment of significant resources of the organization. In this way, the major policies provide direction to the organization in its efforts to achieve its objectives. Therefore it is very important that the major policies are capable of supporting the goals of the organization.

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