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Strategy Supporting Policies
In strategy development, once the vision, mission, values, and objectives are set, the next step is to identify strategic options. Once a strategic approach is determined, it is time to set up strategic initiative projects to implement and achieve the strategic purpose. Developing action plans for each supporting strategic initiative project will ensure that all actions and activities in the implementation of the strategy are purposeful, with the intent of meeting the vision, mission, values, and objectives of the organization. Performance can be measured and monitored using key performance indicators, while incentives and rewards can be used to drive performance. Lastly, policies and procedures are used to control and manage behaviors and actions of employees to ensure requirements and expectations are being met.
Throughout the strategy development process, it is critical for the strategist to consider how to evaluate, monitor, and control human behavior, group dynamics, individuality, power and politics, and conflict resolution. One control mechanism of human behavior in the strategy development and implementation process is “Policy and Procedure.” In this discussion, you will consider and develop policies and procedures needed to support your strategy.
Complete the following activities prior to developing your discussion response:
Conduct research using the same organization that you chose from the list provided by your instructor in the Unit 1 Discussion Board.
Visit the MERGENT library database to conduct research on your chosen organization. Become very familiar with this library database. You will need it.
Analyze the company details, latest annual report, latest news, review competitor information, etc.
You may also want to visit the website of your chosen organization and its competitors for more information and observation.
Instructions:
Execute this discussion by answering the following inquiries in essay format:
Explain the difference between Policies, Processes, and Procedures.
Explain how policies facilitate the implementation of a strategy.
Explain how procedures facilitate the implementation of a policy.
Use a minimum of three academic research resources to substantiate your critical thinking, and to provide viable reasoning for your perspectives.
Apply proper APA style referencing format.
Use headings to segment the topics in your writing in order to create a flow of ideas for your reader.
Write in third person.
You are expected to write unique perspectives on the subject of strategy, and its purpose in business. Refrain from committing plagiarism. It will not be tolerated. Your contributions must synthesize existing theories, concepts and principles from the business literature, and must add value to the existing body of knowledge.
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