Managing Factors of Failure Towards an Effective Strategy Implementation

Peter Schmidt

Student thesis: Master thesis

Abstract

In order to successfully achieve a strategy objective, companies have to efficiently implement their strategies. Managing strategy implementation is challenging in itself, but there are certain factors that can exacerbate the whole implementation process. It is essential that managers focus on the management of the failing factors, because avoiding them is not solving them. Combining the theoretical suggestions with empirical evidence of a company currently implementing a new strategy helps in identification of possibilities on how to manage failing implementation. Dividing the main strategy goals into smaller short-term activities can adjust the lost focus caused by complexity and conflict of interests. Assuring flexibility, communication and decentralized decision making authority might solve the problem of inadequate decisions that do not fit the situational consequences. Setting up detailed criteria with adequate measures likely eases the identification of implementation progress by declaring consistency. Guaranteeing regular monitoring and evaluation of the implementation process detects any kind of problems and ensures that the company is moving in the right direction.

EducationsMSc in International Business, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2018
Number of pages58
SupervisorsPhillip C. Nell