Strategy Execution - (B-M)

Strategy execution matters. In a lot of cases, it is the critical bottleneck to successful strategic management. However, the task is complex and off-the-shelf theories and techniques tend to fall short of corporate reality.

Therefore, this class discusses the key challenges in strategy implementation by asking the eight questions stated below. Additionally, management control systems associated with each of the questions will be presented.

Part One: Build a strong foundation for strategy execution:
1. Allocating resources to customer: Who is your primary customer?
2. Prioritizing core values: How do your core values help to execute strategy?

Part Two: Focus everyone's attention on your strategic agenda:
3. Creating accountability: How do you manage performance?
4. Controlling strategic risk:What strategic boundaries have you set?

Part Three: Facilitate the behaviors needed for success:
5. Spurring effort and innovation: How do you generate creative tension?
6. Building commitment: How do you foster collaborative behavior?

Part Four: Focus on your company's ability to adapt to change:
7. Adapting to change: What strategic uncertainties keep you awake at night?
8. Leading change: How can leadership make a difference?

We will discuss these questions based on several teaching cases (Sydney IVF, Citibank, Volkswagen, Henkel, Hydro One, GE). In the process, we cover aspects of capital budgeting, value statements and beliefs systems, boundary systems and risk management, diagnostic control systems (such as the balanced scorecard) and performance measurement, accountability issues, stretch goals, performance rankings and compensation issues, and last but not least interactive control systems.

For Module Retakes: 100% Oral Examination