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Best Practices and Strategy Execution

Propose how Target Corporation could use best practices, information systems, and short-term rewards to promote better strategy execution within the organization.

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Propose how Target Corporation could use best practices, information systems, and short-term rewards to promote better strategy execution within the organization.

Executing strategy involves creating fits between way things are done & what it takes for effective strategy execution. It involves executing strategy proficiently & efficiently and producing excellent results in timely manner. Thus it involves creating fits between strategy and
o Organizational capabilities
o Reward structure
o Internal support systems
o Organizational culture
PRINCIPAL TASKS OF STRATEGY IMPLEMENTATION

* Building a capable organization
* Allocating ample resources to strategy-critical activities
* Establishing strategy supportive policies & procedures
* Instituting best practices & mechanisms for continuous improvement

Thus for achieving success organization need to constantly renew their processes, their knowledge, their technology, their people, and finally, their strategies. To maintain a competitive advantage, all businesses should concentrate on the following strategic pillars for a high-performance company:

Leadership
The concept of leadership is continually shifting and evolving. It depends on the organization and the people who belong to it. Nevertheless, a leader will always be someone who will accomplish great things by letting other people join his endeavors. There will always be individuals who have the ability to lead and inspire people in achieving a common goal, and this person will be the driving force of every organization. Leader has to be patient and persistent. Leader has to ensure that deadlines are met and quality is also maintained. Persistence and determination are the other qualities required to be developed. The three C's, that are important for Leader are COMMUNICATION, CONVICTION & COMMITMENT. (www.indiainfoline.com) He should have the ability to take risk. An another key characteristic of the good ...

Solution Summary

The solution examines the best practices and strategies to promote better strategy execution within an organization.

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