How Can Policies And Procedures Facilitate Good Strategy Execution

Question: Promoting Good Strategy Execution:

Answer:

Question: Possible Adverse Resource Allocation Outcomes:

Answer:

Question: Budgeting: Allocating Resources

Answer:

Question: Policies and operating procedures facilitate strategy execution by:

Answer: -Providing top-down guidance regarding how things need to be done.

-Helping ensure consistency in how execution-critical activities are performed.

-Promoting the creation of a work climate that facilitates good strategy execution.

Question: Wisdom in a middle-ground approach:

Answer: Prescribe enough policies to give organization members clear direction and to place reasonable boundaries on their actions; then empower them to act within these boundaries in pursuit of company goals.

Question: Managing for Continuous Improvement

Answer: Best Practices

Benchmarking

Process Reengineering

Six Sigma Quality Programs

Total Quality Management

Question: Best practice

Answer: a method of performing an activity that consistently delivers superior results compared to other approaches

Question: The more that organizational units use best practices in performing their work,

Answer: the closer a company moves toward performing its value-chain activities as effectively and efficiently as possible

Question: Business Process Reengineering (BPR)

Answer: -Involves radically redesigning and streamlining work effort, flows and processes to achieve dramatic improvements in performance.

-Uses cross-functional teams, cutting-edge technology and information systems to reset and refocus the organization’s strategy.

Question: Total Quality Management

Answer: -Creating a total quality culture bent on continuously improving the performance of every task and value chain activity.

-Is a long-term race without a finish in which success comes slowly in small steps forward (Japanese principal of kaizen)