Values and Ethics in Strategy Implementation In Indian Companies

Abstract

Strategic management process consists of four phases i.e. defining business mission, and objectives, formulation of strategies, implementation of strategies and evaluation of strategies. These phases are linked to each · other and each successive phase-provides a feedback to the previous phases. Strategy implementation has become an essential input in the area of strategic management process. Higgins and Vincze said, "Implementation is the process of translating strategic plans into results. It is the summation of activities in which people use various resources to accomplish the objectives of the strategy"(!). Strategy implementation is concerned with determining the right organisational structure; designing appropriate management systems for planning and control, capital expenditure, information and reporting, review and followup, training and development, rewards and punishment, career progression, delegation of power, procedures, rules etc.; choosing a right mix of employees; choosing a right mix of skills and competencies; adopting a right style of management in both strategic and operating areas; inculcating right values and culture within the organisation.