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Strategy Implementation, Evaluation, and Control: Essay Introduction
A business plan is a focal point to the successes of any business as it thoroughly outlines businessâs strategies and practices in the operation management. It is responsible for conducting of operations, striking market position, compete, attracting customers and achieving the objectives of the business. The strategy in which the company implements and executes the business plan is the determining factor in the success of the firm.
Putting into practice and executing a business plan are thus essential core management roles. Certainly, a competent business strategy and a first-class strategy implementation are the keys to good business management. This article attempts to analyze how I intend to implement, evaluate, and control (IEC) all of the marketing activities that are described throughout my marketing plan.
Implementation Process
The process of implementation kick starts by evaluation of the internal control of a company to give the auditors the basis of a proper planning and providing relevant information to the management of the enterprise (Butler, 2001).
To achieve excellent implementation of my business strategy, I intend to have the best managerial excellence. This will result to a more reliable recipe that can turn my business to a stand-out performer is the market. For a business to grow and remain competitive, it ought to have a good business strategy, and also a proficient implementation strategy. I intend to use my strategic plan and the strategic implementation to enhance competitive intelligence culture in the internal organization of my business.
I need to explore the overall situation of my company to detect any problems that be hindering the implementation and the execution process. Ones I identify the various areas, I will craft a new-fangled strategy that will help diagnose the problematic areas, predict businessâs outcome, evaluate a different strategic plan, make alternative solutions, and that will implement my intentions to produce a stand-out result. I intend to address the âwhâ questions of a business targeting to achieve its particulate objectives and goals. I will give particulate roles as well as timelines to people and groups in order to put the marketing design, scheduling, and execution of the business plan into development.
This move will ensure that my employees will gather the essential information and resources that are necessary for the implementation of the marketing program as well as in the release of the companyâs products to the potential customers (Moss & Shaw-Mcminn, 2001).
Evaluating Marketing Activities
A marketing plan shouldnât be drafted and left alone. It should be continually reviewed, assessed and adjusted by the needs of the company (Jandaghi & Hosseini, 2015). Having an explicit knowledge of whether a specific business plan is delivering your expectations, can save the owner of a business money and time and ensure the company meets its objectives. To make sure that my business successes, I intend to do the Return on Investments. ROI will help me identify whether the capital I have put into the business has generated any income.
Reading the sales numbers in my business will help me determine whether my plan of activities is working or not. Getting the customerâs feedback will help me in determining the reaction my marketing creates. Online surveys and questionnaires can reveal the customerâs thoughts on my marketing and the initiatives reaching the customers (Liedtka M, 2008).
The expansion of a market reach can be attributed to an effective business plan. To ensure that my business will succeed and make way into new regions, I intend to make my products attractive and ensure that I have a compelling marketing message.
Control of the Marketing Activities
To meet the companyâs control mission, it is important to have an audit of the assessment of the management in regards to management. In every business, there ought to be internal controls. These are strategies that are put in practice to protect the business operations of a company and its financial information (Töyli, HansĂ©n & Smeds, 2006).With the help of internal and external audits; it is my responsibility to evaluate the efficiency of the internal control. The assessment process has the responsibility to measure the operation and finance details of a firm.
I intend to use the management interviews to my employees to understand my mindset. I will also consider interviewing the employees to identify how they have been trained to perform their tasks within the firm.
Strategy Implementation, Evaluation, Control: Essay Conclusion
Undeniably, implementation and execution play a fundamental role in the success of business. Despite having a good business strategy, good outcomes cannot be experienced if the implementation, evaluation and control are weak and unpractical. For my business to succeed, competence, logical, and practical execution is very crucial. An implementation process involves assessing the current situation of the firm comparing it with the expectations laid out in the business plan and finding the best solutions to any hindrance that might be preventing the company from achieving its goals. The evaluation measures the achievements made on meeting the marketing aims. Eventually, the control provides the mechanism for executing the marketing goals stipulated in a marketing plan.
References
Butler, D. (2001). Implementing the strategic plan. Business Development, 165-174. Web.
Jandaghi, G., & Hosseini, M. (2015). Evaluating the Risk of Projects Implementation in Various Situations using Generalized TOPSIS Model and Business Plan. Trends in Applied Sciences Research, 10(5), 245-258. Web.
Liedtka, J. M. (2008). To Plan or Not to Plan? Next Generation Business Handbook, 313-332. Web.
Moss, G. L., & Shaw-Mcminn, P. G. (2001). Implementing and Controlling Your Plan. Eyecare Business, 9(1), 223-235. Web.
Töyli, J., Hansén, S., & Smeds, R. (2006). Plan for profit and achieve profit: Lessons learnt from a business management simulation. Production Planning & Control, 17(6), 584-595. Web.