Strategy implementation Essay Example | Topics and Well Written Essays - 1750 words

Strategy execution of instrument - Essay ExampleIn Andrews definition, there appears to be a clear division between strategy formulation and its implementation. It is at the implementation stage that resource allocation becomes crucial. This is in keeping with the classical or planned model of mentation about strategy. In the more recent, process, or resource-based view (RBV) of strategy, when speaking of the competitive advantage of a firm, scholars filtrate the importance of resources and capabilities available to it (Amit and Shoemaker 1993). It is commonsensical to argue that the strategy implementation of an enterprise is predicated on the availableness (command) of resources and capabilities of the firm. Resources are held to be available business-wide, while capabilities are the skills and abilities developed within and specific to the firm. Resources unaccompanied therefore, are not in themselves sufficient to gain a sustainable competitive advantage for a firm. Capabilit ies, often in the form of patents, and expertise developed in-house, and not easily replicated by outsiders, are equally, if not more important. It is too simplistic to separate strategy implementation from strategy formulation, since a strategy has to be adaptive and evolving, while keeping at the forefront the ends and goals that need to be met for the business to remain viable. Barney (1991), back up by a number of other researchers, claimed that a firms key resources needed optimally to conform to the following criteria.