strategy implementation at functional level

8/9/2019 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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strategy implementation at functional level

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