Download - Strategy Implementation at Functional Level
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strategy implementationat functional level
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Introduction
Strategy implementation is aprocess through which a chosenstrategy is put into action.Accomplishment of organizationsobjectives which have to achievedthrough implementation. The
implementation of policies andstrategies is concerned with the designand management of systems to achieve
the best integration of people,
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Functional Implementation
The implementation of strategy alsoreuires development of functional
policies with provide the direction tomeddle management on how to ma!ethe optimal use of allocated resources.
They guide to medal level e"ecutivesin framing operational plans andtactics to ma!e strategy
implementable.
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#.$ Functional Strategy in the%ar!eting Area.
&.$ Functional Strategy in 'nance
(.$ Functional Strategy in ) * +
.$ Functional Strategy in -roduction.$ Functional Strategy in personnel
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%ar!eting Strategy
%ar!eting policy provides the guideline formanagerial decision ma!ing and actions tocarry out the mar!eting functions in line
with chosen strategy. It basically focuses on organizations
e"isting and potential customers and see!to earn pro't through customers satisfaction
which an integrated programme. It reuired for mar!eting/mi" decision, i.e.,
four -s of mar!eting
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Financial Strategy
Financial strategy is generallyconcerned with the acuisition andallocation of 'nancial resource for thepurpose of the achieving goal at an
acceptable level of ris!.
The setting of goals and action plans for
'nance can be viewed as a problem relatingto the source and uses of capital that isconstrained at least in part by stoc!holders0wealth goals.
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It is manifest primarily through thenotions of 'nancial leverage, operatingleverage, liuidity, and wor!ing capital
management. 1igher/level strategies normally
involve certain current and '"ed asset
investments that represent short andlong term applications or uses of funds.
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)*+ Strategy
)*+ Strategy refers to acuisition
of new techniue !nowledge in areasof developing new product, newprocesses, material and wor!ing
method.
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)*+ strategy has four primarycomponents
#. )*+ goals,
&. e"ternal of intensity of the )*+function,
(. amount of mar!et coupling desired,and
. size of the budget.
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-roduction strategy
-roduction is basicallyconcerned with the process of
transformation of various input intooutput in the light of objective oforganization. The production processshould be cost e2ective and without
uality problems. To guide managersin the operation of production functionin a way consistent with other levels.
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-roduction strategy are mainly concernedwith the following aspects3
4"isting production capacity of the organization.
Augmentation of production capacity in short
run5long run.
+ecision regarding plant location, plant layoutand degree of automation.
%anufacturing processes vertical integration.
Inventory control including re/order level.
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-ersonal strategy
The strategy important of functionalstrategies in the personal are has becomemore widely accepted in recent years.
-ersonnel management aids inaccomplishing grand strategy by encouragingthe development of managerial talent, the
presence of system to manage comparisonand regularly concerns, and well motivatedemployees.
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The strategy involve the following
areas3
#. 4mployee recruitment, selection and
orientation.&. 6areer development and counseling and
performance evaluation and training anddevelopment.
(. 6ompensation.
. 7abor5union relation.
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