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Implementation, Control and Evaluation of Strategic Decisions - Term Paper Example

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This paper describes how strategic planning is utilized for multinational firms, evaluating various methods of execution, evaluation, and control required for successful planning efforts.  And Does the foreign buyer have any preconceived notions of doing business with a representative from a Westernised country?…
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Implementation, Control and Evaluation of Strategic Decisions
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Download file to see previous pages If the business leader determined through a careful analysis of potential forces that the business was about to face increased competition from a new entrant, the strategist would want to look at how the company is actually entering. Are they utilizing promotional material which is congruent to the needs of the buying community? Is their product actual superior to the firms? Has the business partnered with any other business to enhance the image of their product? Though not every multinational business maintains a specific sales product, it is important to fully understand what might drive risk to the business’ long-term competitive position and work to combat these problems with continuous planning and assessment. Whenever the analysis uncovers opportunities for improvement, and the executive leader is prepared to change processes or policies to achieve them, strategic planning has added value to the business.
      Though the PEST Analysis and Porter’s Five Forces models are not the only viable methods available for strategic planning, these models do tend to highlight the majority of situations which a multinational enterprise is likely to encounter in the process of doing business both domestically and in foreign environments. They provide the strategic planner with the opportunity to asses all aspects of business relationships from the supplier right to the seller in order to recognize where weaknesses exist in the entire value chain for the business.
       The implementation of the strategy is largely determined by the culture which exists within the organization and the specific goal which the company is trying to achieve.  Malek and Narayanan (2008) offer that the structure of the business will dictate whether the strategy can be implemented effectively. For the instant, flat hierarchies without a great deal of middle management leadership are generally effective at motivating staff under perceptions of increased autonomy. When strategic decisions have been made and policies are expected to be complied with, the executive leader will require the assistance of junior-level managers to ensure that the multinational business needs are fulfilled. ...Download file to see next pagesRead More
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