Here are a few key points about the importance of strategy implementation:
- Strategy implementation has a substantial impact on organizational performance. It is crucial to organizational effectiveness and critical to an organization's functioning.
- Successful strategy implementation gives an organization a significant competitive edge, especially in industries where unique strategies are difficult to achieve.
- Strategy implementation is even more important in turbulent environments. The ability to implement new strategies quickly and effectively may mean the difference between success and failure for an organization operating in dynamic or turbulent conditions.
- Well-formulated strategies only produce superior performance when they are successfully implemented. The best-made strategies are worthless if they cannot be implemented successfully.
- Strategy implementation is a key concern in managing strategic change