Week 6: Strategic Execution and Implementation Following Best Practices

This week, you will explore the concept of best practices and how a firm implements its strategy to achieve competitive advantage and success. Most experts agree that companies with the best practices approach are usually more successful than those that do not use this approach.

So what exactly are best practices?

Best practices are “a set of guidelines, ethics or ideas that represent the most efficient or prudent course of action. Best practices are often set forth by an authority, such as a governing body or management, depending on the circumstances. While best practices generally dictate the recommended course of action, some situations require that such practices be followed” (Investopedia, n.d.).

Best practices serve as a general outline for a variety of situations. For example, in the production process, a list of best practices may be given to employees, highlighting the most efficient way to complete their tasks. For accountants, the generally accepted accounting principles represent best practices for the profession. An investment manager may follow best practices when managing a client’s money by prudently investing in a well-diversified portfolio (Investopedia, n.d.).

Now it is time to get to work implementing those critically important strategies and lead your company to success! This week, you will examine various approaches to implementing strategies that will elevate your company over its competitors.

Learning Objectives

Students will:

• Analyze the impact of best practices implementation on competitive advantage
• Analyze the impact of transformational leadership on achieving competitive advantage
• Compare classic management and transformational leadership
• Analyze concepts related to strategic planning and management implementation
• Develop strategic business management presentations for target stakeholders
• Apply concepts related to strategic business management

Learning Resources

Note: To access this week’s required library resources, please click on the link to the Course Readings List, found in the
Course Materials section of your Syllabus.

Required Readings

Thompson, A. A. (2014–2015).
Strategy: Core concepts and analytical approaches (3rd ed.) [BSG electronic edition]. Burr Ridge, IL: McGraw-Hill Education.

• Chapter 11, “Managing Internal Operations: Actions That Promote Good Strategy Execution” (pp. 218–233)
• Chapter 12, “Corporate Culture and Leadership: Keys to Good Strategy Execution” (pp. 234–252)

Document: Week 6 Discussion 2 Template (Word document)

Business Strategy Game (BSG) Simulation website:

Thompson, A. A., Jr., Reidenback, M. A., Stappenbeck, G. J., Harms, C. C., & Thrasher, I. F. (2014). The Business Strategy Game: Competing in a global marketplace. Retrieved from
https://www.bsg-online.com/

Visit this website to read Chapters 1 and 2 of the course e-book course and to begin the Business Strategy Game (BSG) SIM. This simulation provides opportunities for you to make some of the difficult decisions often encountered by managers as they seek to execute the strategy that has been established by senior executives who are responsible to the shareholders.

Required Media

Socialontology. (2009). Core competencies of the firm: C. K. Prahalad [Video file]. Retrieved from

1. Discussion 1: Learning Objectives for Using Best Practices in Strategic Execution and Implementation

Please see the Discussion Guidelines in Week 1, and use them as a guide for Weeks 2–6.

By Day 3

Post to Discussion.

By Day 6

Complete your responses.

For Week 6, Discussion 1, choose one of the following three discussion topics. Your post should be 225–250 words and APA formatted.

1. Analyze the concept of “best practices” and how its implementation impacts competitive advantage.
2. Analyze the impact of transformational leadership on the ability of a firm to achieve competitive advantage.
3. Compare the distinctions between classic management and transformational leadership.

Please use the Week 6 Discussion 1 Template located in the Week 6 Learning Resources to draft your post.

After your initial post, engage with colleagues and the instructor in clarifying and mastering any concepts not fully understood. Points to explore in the first discussion topic could include:

• How is the concept(s) used in your current or past place of employment and/or career?
• How does the concept(s) relate to other concepts in the Learning Objectives?
• Why is it important for you to know and master these concept(s)?

2. Discussion 2: Research Weekly Concepts for Using Best Practices in Strategic Execution and Implementation

By Day 4

Post to Discussion.

By Day 7

Complete your responses.

For Discussion 2, please visit the Walden Library databases or select a recognized business publication such as Forbes, Business Week, Harvard Business Review, Entrepreneur, and so forth. Select an article addressing best practices; transformational leadership; the relationship of corporate culture to competitive advantage; or a similar topic that relates to these ideas and this week’s Learning Objectives.

Following APA style and formatting guidelines, summarize the article into approximately 300 words (do NOT copy the article), and explain the knowledge you gained from it. Post to Discussion 2 by Day 4. Include a link to the original article so your colleagues can read it.

Please use the Week 6 Discussion 2 Template located in the Week 6 Learning Resources to draft your post.

Engage in class discussions of the article, starting no later than Day 4, and continuing until Day 6. All discussion posts must be complete by Day 7. In addition to your initial post, respond a minimum of three times (100–125 words) over a minimum of three days.

To earn full points, full engagement in this discussion requires an initial post and active substantive responses with colleagues over a minimum of three days and preferably every day.

3. Discussion 3: Audio-Enhanced Group PowerPoint Presentation

This week, you will complete and submit your Audio-Enhanced Group PowerPoint Presentation.

One group member will post your Audio-Enhanced Group PowerPoint Presentation for review by the whole class, who will serve as the virtual Board of Directors and provide comment and feedback. Only one Presentation per group should be submitted.

See the Week 6 Assignments area for full details.

4. Exam 2 — due Aug 18, 2019, 8:00 PM

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