How to Plan and Execute Strategy
Summary for a book “How to plan and execute strategy: 24 steps to implement any corporate strategy successfully” by
Wallace Stettinius, D. Robley Wood jr, Jacqueline L. Doyle, John L. Colley Jr
I read a book called “How to plan and execute strategy: 24 steps to implement any corporate strategy successfully” written by 4 authors: Wallace Stettinius, D. Robley Wood jr, Jacqueline L. Doyle, John L. Colley Jr. I have read the ¼ part of all these steps, I mean 6 steps from all 24, a summary of which will be set forth below. They include strategically managing, observation, writing different plans and improving with learning
In their book authors deals with business affairs and how to create this strategy, how to find what will ignite the business and lead it to success, as well as how to implement this very strategy. They begin with the fact that in any business, strategy is applied in all cases. Even if entrepreneurs do not realize this, but their business is successful, they still apply some strategy, though not consciously. Also Stipulates that no strategy is suitable for all companies, each will have its own, with some of its own characteristics. Immediately begs the question what is "strategy"? The author designates it by the common word from the words "army” and "news". That is the business he connects in a way with the military and army leadership.
But let's move on to the implementation of strategy in business. The authors consider that the strategy must constantly change and adapt to new problems and challenges, therefore, the same strategy can not be applied to many business ideas, everyone will have their own. The authors also remind us that in creating a strategy it is important to combine both analytical and creative approach. And it is important that the company has two abilities - to create a good strategy and be able to implement it, which, however, is not possible for every company.
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