Final answer:
The first step in devising an action agenda for strategy execution is to conduct a probing assessment of what needs to change within the organization. It is fundamental to understand the current state and use that as a basis to build a consensus for change, allocate resources, and make internal changes.
Step-by-step explanation:
The first step that managers must perform when devising an action agenda for executing strategy is to conduct a probing assessment of what the organization must do differently to carry out the strategy successfully. This initial assessment is crucial as it lays the foundation for all subsequent actions and changes. Strategy formulation starts with understanding the current state, including evaluating existing practices and processes. To devise an effective action agenda, it's essential to clearly define the situation, identify the purpose and focus of the project, and consider the audience's needs and perspectives.
Once the initial assessment is done, managers must then build a consensus for change, allocate resources efficiently to strategy-critical parts of the business, and consider how to implement the necessary internal changes. Throughout this process, upgrading and renewing the organization's resources and capabilities will be an ongoing task to align with the strategic objectives.
It is important to remember that this strategic approach involves reflective thinking, research, and planning, using tools like graphic organizers and analyses of your audience before proceeding with the strategy execution.