5p Model Of Strategy Implementation

A company’s strategy is management`s action plan for running the business and conduction operations. (Thompson, A. A., Strickland III, A. J., & Gamble, J. E. 2007, p.3). The performance of an organization depends on how effective it is in converting a strategy into execution. Implementation is the key to being competitive and sustainable, given an appropriate strategy. A good strategy will fail if it is not properly implemented. Research has been focused into strategy formulation compared to strategy implementation A key task for top management is to consistently and accurately communicate the strategic priority of the organization to functional-level members for implementation. (Rapert, M. I., Velliquette, A., & Garretson, J. A. 2002, p. 301).

(2007) suggest that “when implementing a new strategy, it’s dangerous to ignore the other components because strategy implementation requires an integrative point of view. (p. 6). Pryor et al. (2007) go beyond the understanding and provide the 5P’s model of strategy implementation. The author suggests that the strategy management process must be part of the 5Ps, model such as, purpose: which is the strategic intention of the organization and must be communicated across the organization. Principles: the integrity, ethics, and core values to which employees are expected adhere to must be communicated. to make a commitment. Process: involves the physical action which translates resources into products and services. People: High performing people are key to strategy implementation as they work with principles and processes of an organization to achieve its purpose and improve the company performance. Performance: The metrics are important to see how the organization is performing and reward the people as necessary or to take corrective action to improve its performance. The 5P’s must be aligned with each other in order to achieve maximum efficiency and effectiveness. (Pryor et al. 2007, p. 11). This is a great model of any organization; the model lacks the steps in an organization process. While managers understand the model, it is difficult to apply to the firm as each firm is different. Managers should be trained on the model and be provide tools on the implementation process. The results from such a research will help find the underlying issues in the 5Ps