Successful implementation of the strategy and strategic plan

The book by experienced authors focuses on the key factor of success of any organization, which is the quality implementation of strategy. A good strategy alone is not enough. Just as important, if not more important, is its successful implementation. However, experience from economic practice and findings from the literature show that in up to half of the cases the implementation of the strategy ends in failure with negative impacts on the performance of organisations.

The publication is divided into three parts. In the first part, the authors discuss the basic knowledge of strategic management and strategy development. The second part of the paper focuses on the basic aspects of strategy implementation. Firstly, a brief characterisation of the strategy implementation and the importance of its success is given. Furthermore, the obstacles or barriers to successful implementation of the strategy are described, as well as factors whose improvement significantly increases the success of implementation. Considerable attention is then focused on models and tools to support strategy implementation, including general framework models, strategy maps, Balanced Scorecard methodology, project portfolio management and change management.
The third part of the book focuses on the integrated model of strategy implementation, which is based on three groups of activities. The first group consists of the core activities of the model: creation, resp. updating the strategy, creating the business plan, developing implementation plans and actually implementing the strategy. The second group includes activities related to creating the conditions for successful implementation of the strategy. It is primarily about creating a comprehensive system of organizational performance management. The third group consists of ongoing implementation activities, including communication, coordination, monitoring of the external environment and monitoring and evaluation of the strategy implementation.

The appendices containing case studies of strategy implementation, characteristics of scenario creation and application in strategic planning and application of computer support in generating and testing possible ways of increasing the effectiveness of strategy implementation are also valuable.