Strategic Implementation as a Part of Strategic Management

Mišanková, Mária; Kočišová, Katarína

doi:10.1016/j.sbspro.2013.12.931

Cited by 44 publications

(40 citation statements)

References 1 publication

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“…This result goes in line with the findings of Otieno (2013) who examined the factors that affect the strategy implementation and found that senior management support is the most important factor. Similar to this study's findings, other factors such as the allocation of resources, policies, procedures and the adaptation to changes of the company's environment were also highly correlated with strategy implementation in previous studies (Mišanková, & Kočišová, 2014). As for the evaluation of the strategy, the results of the study also agreed with the previous results.…”

Section: Discussion and Conclusion Of Resultssupporting

confidence: 89%

“…On the other hand, there is a necessity to integrate the stakeholders into the stage of strategy formulation in order to avoid any conflicts and smooth implementing the strategies. In the same vein, Mišanková and Kočišová (2014) concluded that the process of objectives and strategy formulation requires a sophisticated level of procedures. However, Blahová and Knápková (2011) stated that strategy formulation is seen to be easier than effective strategy implementation.…”

Section: Strategic Management Process Stagesmentioning

confidence: 99%

“…In terms of importance, Gecikova and Papcunova (2014) stated that effective implementation of the strategy is the critical success factor that enables the organization to be distinguished, regardless of the strategy itself. Mišanková and Kočišová (2014) concluded that strategic implementation which can be viewed as the key element of the strategic management leads the company to be competitive and distinguished. In the same context, Brenes et al (2008) pointed out that the aim of the strategy implementation is to allow the firm to gain a competitive advantage through the best utilization of internal and external capabilities.…”

Section: Strategic Management Process Stagesmentioning

confidence: 99%

“…In this regard, David (2011) clarified that strategies can be defined as potential actions that impose imperative on the senior managers to make effective decisions and allocate the firm's resources. Mišanková and Kočišová (2014) stated that it is crucial for companies nowadays to apply strategic management in order to be able to operate in the challenging business environment. Within this context, Olsen and Roper (1998) highlighted the importance of strategic management and pointed out that if the organizations desire to innovate and set strategic directions, they have to follow the principles of strategic management.…”

Section: Introductionmentioning

confidence: 99%

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Evaluating the Implementation of Strategic Management Practices in Egyptian Five-Star Hotels: An Exploratory Study

El‐Said¹,

ElMakkawy²

2017

International Journal of Heritage, Tourism and Hospitality

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Proceeding from the challenges and the fierce global competition that have emerged in today's business environment especially in the hotel industry, it was bound to shed light on the subject of strategic management that can be perceived as an issue of great importance for the management of profit and non-profit organizations equally. On the other side, fivestar hotels play crucial role in supporting the tourism industry and the investment in Egypt. Therefore, current study aimed at exploring the scope of application of strategic management practices in five-star hotels in Egypt. Simple random sampling technique was employed to select the sample from the target population and accordingly 48 five-star hotels were surveyed from Sharm El-Sheikh, Cairo and Hurghada cities. The results of the study showed that most of the five-star hotels in Egypt apply the principles of strategic management in its different stages. The results also showed that external barriers have the greatest negative impact on the implementation process, in contrast to internal barriers that have limited impact. The results also showed that most of the strategic management tools are applied in surveyed hotels. Finally, the results have proved that hotel chains are more in line with strategic management principles and more widely used for strategic management tools than independent hotels.

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Section: Discussion and Conclusion Of Resultssupporting

confidence: 89%

Section: Strategic Management Process Stagesmentioning

confidence: 99%

Section: Strategic Management Process Stagesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

Evaluating the Implementation of Strategic Management Practices in Egyptian Five-Star Hotels: An Exploratory Study

El‐Said¹,

ElMakkawy²

2017

International Journal of Heritage, Tourism and Hospitality

View full text Add to dashboard Cite

show abstract

“…Here, the business comes up with constant improvement programs or policies that support the implementation of the strategy (Herrera-Sánchez, León-Pérez, and León-Rubio 2017). While an approach may be concrete, it can always be improved; the essence is the essence of establishing programs and policies to keep maintaining competitiveness (Misankova and Kocisova 2014) and it may lead an organization towards success. A performance tracking and scrutinizing system should be developed.…”

Section: Strategic Implementation Approachesmentioning

confidence: 99%

Strategy Implementation in Organizations: A Conceptual Overview

Rani¹

2019

mng

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The strategy implementation procedure is one approach through which managerial objectives, methods, and rules are implemented throughout the growth programs, financial plan, and procedure. The organization can quickly fail if such strategies are not executed well. When an organization plans to implement the required strategic plan, it certainly addresses all the predicaments that the organization may face like the probability of misusing the inadequate capital or the risk of self-worth in case the business fails. In essence, the conceptual study presents the strategy implementation process to enhance the attainment of the mission and the vision of the business through quality products and services that increases the customer base. Therefore, the result of the paper shows that the firm should implement an excellent strategy to achieve the entire objective to meet all the goals of an organization.

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Linking stakeholders need and sustainable business performance: Unleashing the power of shared value creation for competitive advantage—Study on selected banks in Ethiopia

Waktola,

Singh,

Singh

2024

Bus Strat Dev

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Integrating social and environmental considerations into business strategies has become imperative for companies seeking competitive advantage in today's dynamic and complex business environment. This study explored the effect of Shared Value Creation Practices on Competitive Advantage within banks. The study focused on how banks can achieve competitive advantage by creating shared value that addresses business goals and social needs. Data were collected from 463 customers of selected commercial banks in Ethiopia. The self‐administrative questionnaire was given to the customers selected by convenience sampling method. The study used the Structural Equation Model to test relationship between variables. The Study findings reveal that Shared Value Creation Practices significantly enhance banks' competitive advantage. The study suggests that banks can strategically leverage Shared Value Creation practices to gain a sustained advantage in a competitive market. Banks should continuously innovate and adapt strategies to address evolving stakeholders' needs. The banks should consider shared value creation integral to their strategic planning.

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Strategic Implementation as a Part of Strategic Management

Cited by 44 publications

References 1 publication

Evaluating the Implementation of Strategic Management Practices in Egyptian Five-Star Hotels: An Exploratory Study

Evaluating the Implementation of Strategic Management Practices in Egyptian Five-Star Hotels: An Exploratory Study

Strategy Implementation in Organizations: A Conceptual Overview

Linking stakeholders need and sustainable business performance: Unleashing the power of shared value creation for competitive advantage—Study on selected banks in Ethiopia

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