Week 5 - Strategy Implementation and Leadership

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iviv543

Business Finance

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Hello Class,

In our course reading for this week, we will focus our attention on strategies implementation and developing strategic leadership. In addition, we will discuss evaluating consequences (Hastie & Dawes—Ch. 9) In moving forward with our understanding of these concepts, discussion the following questions.

  1. What is the distinction between implementation and formulation? What purpose does it serve to make this distinction and what potential harm can it cause?
  2. What is strategic leadership and what is its connections to the larger framework of strategic management?
  3. Everyone knows that emotions play a significant role in decision making and choice. Because of this, discuss the factors that lead to poor decision making as it pertains to our emotions. Furthermore, explain the benefits of leaders having good emotional intelligence in working out problems and making sound decisions.

Responses to each of the questions will be submitted prior to each class session, and graded based on the quality, depth, integration of concepts and readings, and demonstrated critical analysis of the material.

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Explanation & Answer

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7 October 2017
Strategy formulation is the process of crafting strategies and making sure that the best
one is selected to ensure the goals and objectives of the organization are met. In the process, the
vision of the company ends up being considered in a step by step manner. On the other hand,
strategy implementation is the process of execution. Here, the strategy is converted into action
with the goals and objectives of the firm in mind again. Key to note here is that the business and
the environment I which it operates are analyzed in relation to the goals and objectives in
addition to the available resources then strategy formulation follows in consideration of the best
action plan. Strategy implementation then follows in a bid to bring the decision into action.
Imple...


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