The programs developed in the strategic-choice stage of the process are put into practice in the _ stage.
A. forecasting
B. program-implementation
C. goal-setting
D. evaluation
E. downsizing
The correct answer and explanation is :
The correct answer is:
B. program-implementation
Explanation:
The strategic management process consists of several key stages, including environmental analysis, strategy formulation, strategic choice, and strategy implementation. The strategic-choice stage is where an organization evaluates various strategic options and selects the most suitable one. However, choosing a strategy is not enough—it must be put into action for it to have any impact. This happens in the program-implementation stage.
What Happens in the Program-Implementation Stage?
In this stage, the organization takes concrete steps to execute the chosen strategies. This involves:
- Allocating Resources: Ensuring that financial, human, and technological resources are directed toward executing the strategic plan.
- Developing Action Plans: Creating specific, measurable, and time-bound action steps to implement the strategy.
- Assigning Responsibilities: Clearly defining roles and responsibilities for individuals and teams involved in the implementation process.
- Establishing Performance Metrics: Setting key performance indicators (KPIs) to track progress and ensure the strategy is being executed effectively.
- Managing Change: Addressing resistance to change, training employees, and fostering a culture that supports the new strategic direction.
Why Not the Other Options?
- A. Forecasting: This occurs earlier in the process and involves predicting future trends, not implementing a chosen strategy.
- C. Goal-setting: This involves defining objectives but does not involve putting strategies into action.
- D. Evaluation: This comes after implementation, assessing whether the strategy was successful.
- E. Downsizing: This is a cost-cutting strategy, not a stage of strategic management.
Thus, program-implementation is the correct answer as it involves executing the strategic choices made earlier in the process.