Learning by Doing

With practice and the right process, executive can develop a core competence in strategic thought.

This article presents a orderology executives can employ to conceive and implement imaginative and coherent strategies. Managers can use the methodology repeatedly to assess the validations direction, thereby cultivating both their competence in strategic intellection and their understanding of how strategic decisions connect to the market be approximately important

The challenge of Redefining and Implementing strategy

The author gave us an example about Butterfield Fabrics operation.

There are three stages.

1. Stage One: Identify the Driving forces in Your Companys Competitive Environment. In this stage, author tell us how the perplexity team making the strategies.

2. Stage Two: Formulate Strategy That Addresses the Driving Forces. Strategy formulation involves three steps. First, you need to brain wave ideas for what needs to be done and devise initiatives for each crusade force. Second, you have to plot those initiatives on a matrix to set about a sense of how they fit to strikeher. Third, you must create maps that stupefy explicit how each functional group in the organization will contribute to achieving the strategy.

3. Stage Three: Create a Plan for the Protests to Implement the Strategy.



The final stage in the driving-forces method of strategy marking is to develop a plan that defines specifically how money and manpower must be spent everyplace time to implement the strategy.

Competence in Strategy

Good management teams are cabalisticly competent when it comes to preparing annual operating plans and delivering the numbers called for in those plans. why? Because, they confront these tasks over and over again. Managers develop ways of thinking and working that mar them very effective in meeting those recurring challenges.

A companys executives can actively cultivate a deep competence in strategic planning by pleasant in such planning over again.

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