Chapter 7: Getting Strategy to Work: Achieving Strategic Effectiveness in Practice

Faced with intensified competition, turbulence and changes, companies choose various ways to improve their capacity to meet the expectations from different stakeholders. This can take place through changes in the organizational structure, acquisitions and spin-offs where management apparently proves their determination and ability to execute. In many occasions these decisions are combined with a number of initiatives meant to improve the strategic performance of the organization. This can be the introduction of advanced forecasting and market simulation tools, the implementation of a balanced scorecard, or maybe the establishment of a business development department whose purpose will be to support the implementation of the strategic plan and to take the necessary initiatives to ensure a favorable future for the company.