Question

problems involved in implementing startegies, and challeges of implenting startegies..answer is same for both question ?​

Answer 1

Answer:

Strategic changes come in many forms for the modern company. It could be a new vertical focus, new leadership style, or innovative product pivot. A solid corporate strategy narrows the focus of your organization and lays the groundwork for growth and development.

Understanding the importance of a corporate strategy is a no brainer. Getting it right is the challenge.

Every company needs a strategic plan. A bird’s eye view plan – make, sell, profit – is good enough to get any company up and running, but in order to innovate, grow, and develop, a company must narrow its vision. A strategic plan helps companies slough off the things they aren’t good at doing so they can better focus on the things that they are. A strategic plan also lays the groundwork for improving those things that need a little (or a lot of) work. The right vision shows company leaders where to dedicate time, human capital, and budgetary resources.

Alarmingly, 90% of organizations fail to effectively execute their strategic plans, according to Harvard Business School. Improperly executing a strategy leads to a lack of objectives for employees, improper resource allocation, lack of structure and leadership, and weak lines of communication. That is why it is so important to get it right.

The reasons for failed strategies are varied, but most hinge on the fact that strategy implementation is resource intensive and challenging. Understanding the biggest challenges to strategy implementation will help you avoid the most common pitfalls and better set your company up for success.

Answer 2

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