Why are Crafting & Executing Strategy Important?
1. Crafting & executing strategy are the top managerial tasks for two very large motives:-
(a). Here, compelling requirement for managers to proactively outlined or craft how the company's business will be accomplished.
(b). A strategy-focused company is more likely to be a strong bottom-line performer.
A. Good Strategy + Good Strategy Execution = Good Management
1. Crafting & executing strategy are middle management functions.
2. Among all the belongings managers do, nothing influences a company's ultimate achievement or failure more necessarily than how well its management team chart the company's way, develops competitively effective strategic moves & business approaches & pursues what needs to be done internally to generate good day-to-day strategy execution & operating excellence.
3. The Good strategy & good strategy execution, both are the most responsible signs of good management.
4. The better visualized a company's strategy & more competently it is executed, the more likely the companies will be a standout player in the marketplace.
CORE CONCEPT: - Excellent accomplishment of an excellent strategy is the best test of managerial excellence & the most consistent guidelines for turning companies into standout performers.