Importance of Strategic Execution
Execution of strategic plans allows business to explore new opportunities and brings into line all aspects of a company: people, strategy and operations.
A business blueprint is a good start to strategic management, but it must be put into action. To ensure a business ’s survival, growth and expansion, strategies must be put into practice.
Its Contribution to Family Businesses.
Execution of strategic plans will take the business to another level It’s estimated that more than 60 % of the strategies aren’t successfully executed in business.
Hence implementation of the plans Success requires:
- developing structures and systems
- allocating of resources
- overseeing change management
- developing risk management strategies
- developing decision -making processes
- developing project management capabilities.