Open AccessWHAT AFFECTS THE IMPLEMENTATION AND REALISATION OF STRATEGY IN ORGANISATIONS?
Author(s) -
Viktors Hiršsons,
Iveta Ludviga
Publication year - 2020
Publication title -
proceedings of cbu in economics and business ...
Language(s) - English
Resource type - Journals
eISSN - 2695-0707
pISSN - 2695-0693
DOI - 10.12955/peb.v1.25
Subject(s) - realisation , latvian , clarity , strategy implementation , process management , competence (human resources) , strategic management , business , computer science , knowledge management , management science , management , marketing , engineering , philosophy , biochemistry , linguistics , physics , chemistry , quantum mechanics , economics
In today's changing environment companies are pushed to be flexible, develop new strategies and implement change plans. Strategy implementation and realisation is a critical component of organizational performance, however, many organizations fail to implement their strategic plans, while others could not achieve their desired results. In practice nowadays more attention is paid to the implementation of the strategy than to its creation, still strategy research most often treats strategy execution and realisation as a black box. The aim of this study is to find out the factors influencing the successful implementation and realization of business strategy in Latvian organizations. Quantitative research using a structured questionnaire (n = 440) and a multivariate linear regression analysis shows that managerial competence and leadership followed by clarity of goals play a decisive role in the successful implementation of business strategy. Implications of the results for managerial practice are discussed and propositions for future research provided