Components of Management

The first management component of implementing strategy is building a capable organization (Implementing, 2004). This involves selecting the right people for key positions with the background, know-how, talent and personal chemistry, and developing skills, core competencies, managerial talents and competitive capabilities in these people through training, motivation, empowerment, and cooperative networking. Business processes must be organized, value chain activities established, and also decision-making processes to that strategy can be successfully executed.

The second component is the allocation of resources in a way that supports effective strategy execution, such as funding capital projects that can contribute to strate

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Category: Business - C