What are some reasons why a company’s management team should actively communicate and implement the business strategy that it has been planned.Many companies invest substantial resources to...
What are some reasons why a company’s management team should actively communicate and implement the business strategy that it has been planned.
Many companies invest substantial resources to the strategic planning process only to put the strategy document on a shelf until the process rolls around the next year.
The main reason why a strategic plan should be communicated and implemented is that this will allow everyone in a firm to understand where the firm is going and what it is trying to accomplish over a given time period. This is very important because it allows everyone at the firm to pull in the same direction, thus making the firm more likely to achieve its goals.
If a strategic plan is not communicated to the various parts of the firm, different parts of the firm may not act in ways that will help the firm achieve its overall strategy. Different parts of the firm may act in ways that seem to help them, for example, but which are not congruent with moving the firm in the direction that upper management wants to go.
If a firm is to grow and profit, it generally needs a clear vision of what it is trying to accomplish. All of the people in the firm need to be aware of that vision. That way, they can all work together to help achieve those goals rather than simply going about their day-to-day business in an essentially aimless way.