Strategic initiatives represent the force that gives the organization mass acceleration, overcoming inertia and resistance to change. Strategic initiatives are new projects and programs with specific deadlines. The purpose is to help the organization get the planned results and become the best among companies, the best in the market, to seize the leadership. Changing the strategy requires reallocation of the budget and reallocation of resources. Implementing the new system requires managers to play an active and sometimes decisive role in redistributing resources, mainly to find opportunities for more effective implementation of the strategy. It is necessary because words and desires alone are not enough. We need resources to design the required changes and need a person to be motivated, trained, or retrained. It is necessary to find new communication channels with both performers and consumers. We are talking about human and material resources that need to be seen and adequately redistributed.In only 3 hours we’ll deliver a custom Strategy Calls for the Organizations essay written 100% from scratch Get help
However, what does it mean for the company to quickly and painlessly change the existing strategy or introduce a completely new one? First, we need a current budget that would respond sensitively to changes related to the new design and at the same time not meet active resistance within the financial service (Thompson et al., 2016). Further, a flexible system of redistribution of resources within the company, both human and material, is required.
The existing ways of doing things create obstacles for initiatives to implement the strategy. Since modern production is based on various quality management systems, for example, TQM or Six Sigma, managers require specific abilities and resources to re-engineer processes. Good execution of the strategy always implies the ability to reproduce the quality of the product. Companies’ approaches cannot be well implemented without several internal systems for doing business (Dzwigol, 2020). It is perfect if the existing systems do not require significant changes. It is essential that the company’s employees enthusiastically strive for the successful implementation of the new strategy.
Financial incentives, as a rule, top the list of motivation tools to attract purposeful employees. It is essential that the corporate culture is strong and reflects the basic principles necessary for the rapid implementation of new strategies. All of the above helps explain why implementing a new or different system requires managers to determine the resource requirements for each new strategic initiative and then consider whether the current resource allocation scheme.
Thompson, A., Peteraf, M., Gamble, J., & Strickland III, A. J. (2016). Crafting & executing strategy: The quest for competitive advantage: Concepts and cases (20th ed.). McGraw-Hill Education. (Chapter 11 & 12)
Dzwigol, H. (2020). Methodological and empirical platform of triangulation in strategic management. Academy of Strategic Management Journal, 19(4), 1-8.