Implementation Of The Strategic Planning Essay

1492 Words Jul 16th, 2016 null Page
Implementation of the strategy is dependent on the effectiveness and integration of the main elements of planning (Kaplan and Norton,1993). Implementation of the strategy also requires a strategy for the success of the planned work. The strategy itself is a critical part of strategic planning in management, as well as the motivation of the management team to implement the strategy process. All the elements of strategic planning are important, but the whole determines how well different parts interact with one and other. At the same time, a strategically clever Company will be able to renew its ongoing strategy, as well as to develop a new strategy.
A good strategy plan also calls for the Company to be adaptable to different situations, which will be influenced by the customer’s needs and wants, competition, as well as factors related to the business in terms of competition amongst industry players (Kim and Mauborgne, 2002).
2.19 Strategy budgeting
As has already been pointed out; the task to describe the Company 's strategy enables it to progress towards the vision. The strategy also provides clear plans that guide the activities of the management team in the implementation of the strategy.
The time horizon of strategic plans often generally considered between 3 - 5 years, while tactical plans and objectives are 1 - 3 years. Concrete operational level plans usually deal with a maximum of one year from the timeline. Often those chosen strategic priorities and development…

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