Launching the strategic plan: a critical but missing piece of strategic management education and practice

Abstract

Purpose Numerous core concepts in the field of strategic management lack a clear definition or receive relatively little attention in most traditional strategic management classes with the concept of “implementation” being chief among them. The authors explore and describe one of the most important steps of implementation, the strategic plan launch project. It is the first impression that stakeholders have of what changes the company will be making to its business model, which businesses or departments will receive increased or decreased financial support, and the sense of urgency and prioritization the company is attaching to its new program. Design/methodology/approach Based on extensive executive and consulting experience, plus a review of existing scholarly literature, a seven-step model is described and explained that includes best practices for the final steps of formulation through the initial phase of implementation. Findings The authors could not find any academic literature on how companies finish the formulation process and transition into an efficient and effective deployment of the plan. It is critical to clarify at least two kinds of budgets and clearly designate authorities prior to gaining board approval. Thereafter, a well-developed dissemination and launch project is necessary for clear communication of strategic intent and objectives. Originality/value This paper fills in a critical gap in scholarly literature while providing practitioners with a foundational model to help organize and monitor the successful launch of a new organizational strategy.