Technical

6A’s of strategy implementation

strategy. Even if we check last 5 years most searched word in google, will find “Strategy” is in the second or third most searched word. Now a days even a 10-year kid using the word “Strategy” to get a chocolate from his/her parent. There is nothing wrong in this because “Strategy” means to formulate a plan to achieve something, and that achievement can be anything. Nobody has the copy right for using or non-using this word only if it is important to know the implementation of the strategy so that achievement of target can be smoother. As this is a business-related article so mostly our implementation process is based on “Business Strategy” only.

We segregate the process into six steps and named them as 6A’s of strategy implementation.

Acquire: - Here Acquire means acquisition of data. As it is near to impossible to plan the future achievement without analysing the past data. For analysing data, it is important to acquire the appropriate data. Like if we need to analyse the selling strategy of Ice-cream in the winter season and we have last 5 years sales data of the same ice-cream, this is not going to help us in implementing the strategy to sell in winter. We need to have the sales data of last 5 years in winter season, that will help us in formulating strategy for winter sales. So, for implementing a strategy it is must to have the accurate & relevant data.

Analyse: - After Acquisition of the data it is time to analyse the same in a proper manner.  Choosing the mode of analysis is a critical task. Suppose we want to do a sales analysis through the stock inward and outward register for perishable food Item and we are using LIFO method then there is a huge possibility of the standard error. We need to use moving average method or FIFO method to value the stock as using LIFO for a perishable goods can create a misleading value. So, we need to do a proper analysis to find out the desired result.

Abridge: - After analysing the data it is also important to prepare the summary of the analysis. Top management does not have that much of time to go through each and every analysis. Hence, it’s also important to create an effective summary by which the top management can understand the result of the analysis and take the appropriate decision on time.

Address: - After identifying the problem through the result of the analysis, the next stage is to address the problems. In this part we need to first prioritize the problem and start putting various methods to reduce the problem and take the process near to the perfection.

Approval: - after getting success in the previous step it is very important to take approval regarding analysis and implement process from the top management. It is very important to get approval from all the top management personal other wise the implementation process will not be successful.

Apply: - After approval, the last stage of this process is implementation of the same. This process is very much critical because it requires a close level of monitoring. In this process we need to constantly do variance analysis between Plan VS Actual result and follow a continuous improvement plan until we achieve the planed result.

Strategy implementation is the Cumulative of all this 6A’s and the continuous monitoring of the process and a continuous improvement plan.