According to Euchner and Ganguly (2014), business models need to be adapted, strengthened, and changed over time due to the evolution of competitive environments. Innovation implementation is therefore known to fuel organizational growth, as well as the future success of the company. Moreover, organizational change is inevitable because it drives organizations to sustain their viability in addition to the fight for business survival in the competitive environment. However, implementing changes has never been an easy task since change leaders are often met with resistance from organizational stakeholders who are totally against change. In this case, the former should effectively involve all stakeholders in change initiatives by communicating the need for change, while encouraging a feedback and giving an in-depth definition of a vision and goals. Similarly, the top management should lead by example showing willingness to embrace changes in order to stimulate other stakeholders to accept these.
In the event of implementing change in such organization that is naturally resistant to it, some steps are necessary for this process. Prior to initiating transformation, leaders should first plan and effectively communicate the value creation of the impending innovation. Secondly, effective planning also helps identify potential risks that can hamper the idea (Euchner & Ganguly, 2014). This process should involve scheduling, organizing, leading and controlling organizational resources. A good management team should identify any risks that may stifle the innovation process and probably develop strategies to mitigate them.
Thirdly, the management must ensure that proper organization takes place at the initial stages of any innovation plan to ensure that the model to be launched has multiple options. At this process, stakeholders’ feedback is significant because in enables leaders to develop strategies to address these factors.
The fourth aspect should involve prioritizing risks. At this level, commitment from the management to initiative a new business model is quite critical. As such, the leadership should also exhibit the desire to implement change, as well as effectively communicate the strategic vision to all stakeholders. Engaged employees will probably promote the innovation process and device strategies that may negatively influence the new idea.
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The fifth process is planning to reduce an innovation risk through experimentation. During this process, the aspects of leading and controlling are essential. Managers should employ strategies that coordinate all stakeholders. By controlling organizational resources, they employ leadership strategies of closely working with employees in order to obtain their views regarding various company activities, their strongholds, and weaknesses.
Generally, a business strategy is a summary of how an organization intents to achieve its goals, as well as to meet expectations of its customers in the competitive market environment. For instance, businesses aspiring to succeed develop strategies that define their future by creating vision and mission statements as an essential part of strategic management (Wu & Lin, 2011). However, operationalizing strategies across various business functions is not easy because the process is often accompanied with challenges. The major obstacle to operationalization is translating strategic objectives into an operational strategy that can be monitored and evaluated. Notably, businesses face difficult moments in aligning the latter with their long-term goals. It complicates the process of evaluation. Consequently, this challenge negatively affects the business because the definition of a business strategy determines its future.
In my opinion, challenges of operationalizing the business strategy differ depending on business environments. For example, some companies may have easy time developing strategies that go hand in hand with their mission and vision statements due to the nature of their organization, but then face numerous challenges in implementing such. Similarly, challenges facing complex business organizations may differ from those of simple organizations. For instance, the healthcare sector faces challenges of strategy operationalization due to frequently changing trends in the healthcare system. Because of massive medical transformations, healthcare organizations are required to frequently review their vision and mission statements to embrace technological changes in order to remain competitive in the market. As a result, their strategies are also changed to reflect the mission and vision. Therefore, the strategy implementation process in healthcare may be different from other businesses where change processes occur gradually.