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A company's ability to marshal adequate resources in support of new strategic initiatives and steer them to the appropriate organizational units is important to the strategy execution process because changes in strategy often require resource reallocation, and organizational units need the proper funding to carry out their part of the strategic plan effectively and efficiently.
What are strategic initiatives?
The means through which a company puts its objectives and visions into action are known as strategic initiatives. Companies need to deliberately develop a portfolio of strategic projects if they want to stay ahead of the competition.
An effective strategic initiative is made up of five steps:
- Aim high. You must be aware of what you're starting before you begin.
- Establish goals. As previously mentioned, objectives are definite, quantifiable, and reasonable long-term goals.
- Decide on a strategy.
- Create a plan, then carry it out.
To know more about strategic initiative refer to: https://brainly.com/question/27897860
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