Strategy execution matters. In a lot of cases, it is the critical bottleneck to successful strategic management. However, the task is complex and prepackaged prescriptions on the latest theories and techniques tend to fall short of corporate reality. Therefore, this class discusses the key challenges in strategy execution, combining the perspectives of research and corporate practice, and providing background of successful execution of recent strategy formulations. The class discussion will involve a spectrum ranging from building a strong basis for strategy execution to managing a company’s propensity to change continuously.
We will discuss these questions based on several teaching cases. 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.