Strategic Leadership and Strategy Implementation, Student Response help

Strategic Leadership and Strategy Implementation, Student Response help

INSTRUCTIONS: Please RESPOND to this answer from the Point of view as a student. Use credible sources and respond as if you are a manager of a marketing agency. Tell this student what your marketing agency would think of each of these answers from a Management perspective in about 4-5 paragraphs:

Strategic leadership plays 2 important roles in successful strategy implementation and they are: 1) Making substantive implementation lever and resource-allocation decisions and 2) Communicating the strategy to key stakeholders (Carpenter & Sanders, 2008). When making decisions about levers, it involves important tradeoffs regarding what the firm will and will not do. “Top managers should probably by in the process of changing the implementation levers to favor some form of multibusiness or matrix structure and a compensation system that rewards financial accountability and not just growth” (Carpenter & Sanders, 2008, p. 255). When firms make decisions about resource allocation, they must allocate resources in ways that are consistent with the firm’s strategy and make the tradeoffs that it entails. The competitive advantage goes to the firms who develop unique advantages. “Most of the time, such firms develop unique advantages because they make independent resource allocation decisions instead of mimicking those of everybody else in the industry. Therefore, it’s important that manager revisit the strategy diamond, and make 2 difficult decisions when allocating the firm’s resources and capabilities: 1) What to direct at each arena and 2) What to direct to each differentiator.

Within the strategic leadership role, it’s critical for managers to evaluate both the need and the necessary tactics for persuasively communicating a strategy in 4 different directions: upward, downward, across, and outward. When communicating with key stakeholders about strategy, it’s vital to know and understand the three C’s of strategy communication: contacts, cultural understanding, and credibility.

Vince

Carpenter, M., Sanders, Wm. (2008). Strategic Management: A Dynamic Perspective. Upper Saddle River, N.J: Prentice Hall.