Strategy implementation, policy vs rule, agency theory
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1. Short term objectives and functional tactics implement strategy - why? What problems may occur through this form of strategy implementation?
2. What is a policy? How does it differ from a rule?
3. How does executive compensation factor into the issue of strategy implementation?
4. Research "agency theory" and its relationship to exective compensation - your findings?
5. Describe the issue of "fit" between strategy formulation and implementation plans ... cite a firm that seems to have a "perfect fit" and one that is an absolute "misfit." Explain.
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Solution Summary
Strategy implementations, policy versus rule and agency theory are examined.
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Strategic Management
Translation of a business strategy throughout the organization is considered as the first concern during the actual implementation of the business strategy. Short-term objectives are normally derived from the long-term objectives and later translated into an organization's current actions as well as targets. They however differ from the long term objectives in time frame, measurement and specificity. The two must however be integrated and coordinated for the strategy to be effectively implemented which is an example of a problem associated with this form of implementation (AUDEBRAND, 2010).
A policy is a principle or a rule which provides guidance on the decisions an individual takes so as to achieve a rational outcome. A rule is a principle which governs the action, conduct, arrangement or procedures of something while a policy does not ...
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