Final answer:
Once managers choose a strategy, focus shifts to turning it into actions by devising an implementation plan, empowering employees, establishing policies, and building core capabilities.
Step-by-step explanation:
Once company managers have decided on a strategy, the emphasis turns to converting the strategy (and any associated strategic plan) into actions and good results. This involves establishing a detailed implementation plan that sets forth exactly what every department and every manager needs to do to proficiently execute the company's strategy. It also entails empowering employees to revise and reorganize value chain activities to match the strategy, thereby maximizing effectiveness. Additionally, it's important to build the core competencies and competitive capabilities needed to execute the strategy successfully, which will often focus on a company's strengths or a limited range of products or services.
Another aspect of implementing a strategy includes establishing policies and procedures that provide clear instruction to company personnel on the ways and means of executing the strategy. This structured approach ensures that everyone in the organization understands their role and how it contributes to achieving the strategic goals. Moreover, a company may undergo structural changes, such as mergers or acquisitions, which require integrating different departments and addressing employee concerns, ultimately aligning the organization with the new strategic direction.