UNIVERSITY OF SAINT LOUIS

Tuguegarao City

SCHOOL OF ACCOUNTANCY, BUSINESS and HOSPITALITY

Second Semester
A.Y. 2020-2021

CORRESPONDENCE LEARNING MODULE

ENTR 1013 – The Entrepreneurial Mind

Prepared by:

CAMILLE JAM L. SERA

MARY ANN C. BARTOLOME, MBE

Reviewed by:

MARY ANN C. BARTOLOME, MBE

Business Administration Program Chair

Recommended by:

ALICIA SILVA-TULIAO, MBE

Academic Dean

Approved by:

EMMANUEL JAMES PATTAGUAN, Ph.D.

Vice President for Academics

ENTR 1013 – The Entrepreneurial Mind | 1

 School of Accountancy, Business and Hospitality
Business Administration Department
Curriculum 2019-2020

CORRESPONDENCE LEARNING MODULE

ENTR 1013 – The Entrepreneurial Mind

This Weeks’ Time Table: April 19-23, 2021

For this week, the following shall be your guide for the different lessons and tasks that you need to accomplish.
Be patient, read them carefully before proceeding to the tasks expected of you.

HAVE A FRUITFUL LEARNING EXPERIENCE 😊

Date Topics Activities or Tasks

April 19-22 Strategy Implementation: Plan, Read Lessons
Process & Examples
 Definition of Strategy
 Implementation
 Real World Strategy
 Strategy Implementation
 What is Innovation Strategy? -
Definition & Examples
April 23 Participation Accomplish the worksheet in this module for
Quiz your Participation and Quiz.

ENTR 1013 – The Entrepreneurial Mind | 2

 CORRESPONDENCE LEARNING MODULE
ENTR 1013 – The Entrepreneurial Mind
AY 2020-2021

Lesson 12: Strategy Implementation: Plan, Process & Examples

Topic: Strategy Implementation: Plan, Process & Examples

Learning Outcomes: At the end of this module, you are expected to:

1. Define Strategy
2. Define Implementation
3. Analyze the Real-World Strategy
4. Understand Strategy Implementation
5. Define Innovation Strategy and provide examples

LEARNING CONTENT

Introduction:

This lesson presents the steps necessary for successful implementation of organizational strategies. It will
explain how companies formulate their strategic plan, how the plan is implemented, and appropriate examples
for clarification.

Strategy Implementation Definition

Let's say that a local hardware store recently experienced a slump in sales and had to lay off two of its
employees. The owner/manager is attempting to come up with a new business strategy to improve his situation
and once again become a market leader. Strategy implementation consists of putting plans in place by
formulating a strategy to achieve the organization's goals and objectives. It can also be described as the way a
business might develop, use, and integrate the organizational hierarchy, systems, and culture to pursue
strategies that will result in competitive advantage and improved performance. In the example, the

ENTR 1013 – The Entrepreneurial Mind | 3

organization's goal is increased sales and regaining its market position. The strategy will be specific actions
that will realize the goals.

Lesson Proper:

Definition of Strategy

In the hardware store, the overall objective is known: attract and keep customers, increase sales and improve
performance. The strategy describes how these objectives can be achieved. For the hardware store it could be
increasing promotional events or becoming involved in the local community through public relations.

Why Do We Need a Strategy?

As with our hardware store, organizations need strategies, which assist them with answering specific questions
regarding the goals of a business.

There are three 1. Who are the people that make up our target market? This could be local
main questions: building contractors, handymen and homeowners, for the hardware store.

2. What is the value proposition that we will use to differentiate our products and
services from our competitors? This could be the high end brands that we carry
and the quality perception associated with them. Or it could be our on-time
delivery systems and after-sales service.

3. What are the capabilities we have that will assist us with being the best in the
market at delivering that value proposition? This could be our well-trained
employees who are also experts in the construction industry.

Implementation
Even excellent strategies will fail if they are not implemented properly. The following are the steps that must be
followed for successful strategy implementation:

Step 1:
Organizational development (OD) with the potential of carrying out a strategy successfully; for example,
training of employees who will have the capability of carrying out the required activities that will
contribute to fulfilling the strategy. OD refers to the professional development of employees.

Step 2:
Utilizing financial resources to engage in activities that are essential to the strategy. Each planned
event and the associated expenses must be traced directly to the strategy that the organization wants
to realize. So, any activity that does not contribute to the strategy cannot be done.

Step 3:
Formulating company policies that support the strategy. For example, if your strategy includes
improving your human resources, then the company would need policies that help to identify the type of
training needed by each employee, and how the training will be received.

Step 4:
Ensure continuous improvement through superior programs and policies. Superior programs and
policies are those that achieve their objective more completely, and/or, in less time than previous ones.
ENTR 1013 – The Entrepreneurial Mind | 4
 This improvement therefore, is based on previous information from policies of the past for the particular
organization. To improve a program, the organization must first identify what worked and what did not
work for previous plans, then make changes to come up with a superior plan.

Step 5:
Linking employee rewards directly to their departmental, as well as the company's strategic goals.
Employee goals should be set at both the department and corporate level, ensuring that all
departments are aligned to the overall strategy of the organization.

Step 6:
Utilizing strategic leadership skills: This is a style of leadership that offers employees vision and
direction towards achieving growth and continued success for the organization. All company executives
must receive skills training on effecting change, strategy formulation, and strategy implementation.

Real World Strategy

There are many organizations that have great strategic plans, but no plan for the implementation process.
Strategy implementation is crucial in order for the strategy to take hold, and bring organizational benefits.
However, some organizations fail to plan the actual implementation:

 60% of companies do not link their strategy to budget decisions.

 75%of companies do not connect employee performance incentives to the strategy.
 86% of business owners are spending less than 60 minutes per month talking about strategy
implementation.
 95% of the workforce do not have a full understanding of their organization's strategy.

Strategy Implementation

refers to the execution of the plans and strategies, so as to accomplish

Strategy the long-term goals of the organization.
Implementation It converts the opted strategy into the moves and actions of the
organization to achieve the objectives.

Simply put, strategy implementation is the technique through which the firm develops, utilizes and integrates its
structure, culture, resources, people and control system to follow the strategies to have the edge over other
competitors in the market.

ENTR 1013 – The Entrepreneurial Mind | 5

Strategy Implementation is the fourth stage of the Strategic Management process, the other three being a
determination of strategic mission, vision and objectives, environmental and organizational analysis, and
formulating the strategy. It is followed by Strategic Evaluation and Control.
Process of Strategy Implementation

1. Building an
organization, that 2. Supplying resources,
3. Developing policies
possess the capability in sufficient quantity, to
which encourage
to put the strategies strategy-essential
strategy.
into action activities.
successfully.

4. Such policies and

programs are employed 5. Combining the
6. Using strategic
which helps in reward structure, for
leadership.
continuous achieving the results.
improvement.

The process of strategy implementation has an important role to play in the company’s success. The process
takes places after environmental scanning, SWOT analyses and ascertaining the strategic issues.

Prerequisites of Strategy Implementation

 Institutionalization of Strategy:
First of all, the strategy is to be institutionalized, in the sense that the one who framed it should promote
or defend it in front of the members, because it may be undermined.

 Developing proper organizational climate:

Organizational climate implies the components of the internal environment, that includes the
cooperation, development of personnel, the degree of commitment and determination, efficiency, etc.,
which converts the purpose into results.

 Formulation of operating plans:

Operating plans refers to the action plans, decisions and the programs, that take place regularly, in
different parts of the company. If they are framed to indicate the proposed strategic results, they assist
in attaining the objectives of the organization by concentrating on the factors which are significant.

 Developing proper organizational structure:

Organization structure implies the way in which different parts of the organization are linked together. It
highlights the relationships between various designations, positions and roles. To implement a strategy,
the structure is to be designed as per the requirements of the strategy.

 Periodic Review of Strategy: Review of the strategy is to be taken at regular intervals so as to identify
whether the strategy so implemented is relevant to the purpose of the organization. As the organization
operates in a dynamic environment, which may change anytime, so it is essential to take a review, to
know if it can fulfil the needs of the organization.

Even the best-formulated strategies fail if they are not implemented in an appropriate manner. Further, it should
be kept in mind that, if there is an alignment between strategy and other elements like resource allocation,
organizational structure, work climate, culture, process and reward structure, then only the effective
implementation is possible.

ENTR 1013 – The Entrepreneurial Mind | 6

Aspects of Strategy Implementation
 Creating budgets which provide sufficient resources to those activities which are relevant to the
strategic success of the business.
 Supplying the organization with skilled and experienced staff.
 Conforming that the policies and procedures of the organization assist in the successful execution of
the strategies.
 Leading practices are to be employed for carrying out key business functions.
 Setting up an information and communication system, that facilitate the workforce of the organization,
to perform their roles effectively.
 Developing a favorable work climate and culture, for proper implementation of the strategy.
 Strategy implementation is the time-taking part of the overall process, as it puts the formulated plans
into actions and desired results.

What is Innovation Strategy? - Definition & Examples

Innovation strategy is a plan to help enhance technology. Now, we will discuss the use of a successful
innovation strategy, how to be an innovative leader, and how to focus on innovation.

Innovation Strategy
Have you ever wondered exactly what goes into creating an amazing and fun technological device?
Innovation plays a huge role in how products are created. An innovation strategy is a plan used by a
company to encourage advancements in technology or services, usually by investing money in
research and development activities.

An innovation strategy is essential for companies that want to gain competitive advantage. An effective
innovation strategy should be inspiring and add something unique to the product or service being
developed. As a company, you want to increase the value of a current product or create something
brand new that will draw the consumer in.

Innovation should push boundaries and be out of the ordinary. When thinking about innovation, it's
impossible not to think about Apple. Apple has created and continues to create unique products with
tremendous success. The iPhone, iPad, and iWatch have all been innovative products. Although
smaller companies may not have Apple's global success, the beauty of innovation is that you never
know what might happen with a product and the success it can bring your company.

Innovation Leadership

ENTR 1013 – The Entrepreneurial Mind | 7

 Leadership plays an important part in how innovation occurs in an organization. Innovation leadership
will trickle down from those in charge to other employees. The manner in which messages are
communicated to employees can significantly affect the success of a project. Motivation is also
important because of its impact on how some employees work. For instance, if Josh is a manager who
constantly yells at employees, work might be more stressful, employees may be less motivated, and
productivity will most likely go down.

Leadership doesn't only come from upper-level management; it also comes from lower-level managers
and all team members. An effective leader is able to work with different people and mentor them so that
they can achieve their goals. A leader should foster a team environment where individuals have the
ability to network and create ideas together.

Negative Effect on Motivation

The Spitfire Technology Company encourages its employees to work together to help create innovative
ideas. Jason has the leadership role this week but is having difficulty with the responsibility. Jason isn't
encouraging his team and isn't able to work with the different personalities. His team members are
trying to do their jobs. However, Jason's negative attitude has caused them to lose their motivation to
create a new innovative product. If Jason's attitude was more uplifting, he would be able to build a
better relationship with his coworkers and inspire them to create a new product.

Focusing on Innovation
Creating the next innovative product is essential, but it's also important for a company to not lose its
focus. Introducing multiple products at the same time can cause a loss of focus. It can also lessen the
amount of time available to perfect each product. Even technological giants like Apple focus on and
launch a limited number of products at the same time. It's also essential for the company to create
something that's different and unique. No idea is too big when it comes to innovation.

So, let's say that the sales of Spitfire Technology Company have started soaring. The Spitfire
Technology Company developed a new product to launch. They decided to focus solely on a new type
of touchscreen laptop that also has a touchscreen keyboard. Instead of launching multiple products
simultaneously, they decided to make this single launch worth its research and development costs.
Consumers are now focused on this one product and sales are soaring!

Lesson Summary
Let's take a couple of moments to review what we've learned. Strategy implementation consists of putting the
chosen strategy into action to achieve the organization's goals, strategies, and objectives. It can also be
described as the way that a business ought to develop, use, integrate the organizational hierarchy, systems,
and culture to pursue strategies that will result in competitive advantage and improved performance. Even
excellent strategies will fail if they are not implemented properly.

An innovation strategy is a plan made by a company to encourage advancements in technology or services,

usually by investing money in research and development activities. Leadership plays an important role in how
innovation occurs in an organization. Innovation leadership begins with upper-level management and trickles
down to other employees. When creating an innovative product, it's important for a company to remain
focused. Introducing too many products at once can result in loss of focus and the time needed to perfect
them.

*** END of LESSON 12***

ENTR 1013 – The Entrepreneurial Mind | 8

Learning Task

Camille is planning to put up her small business during this pandemic to earn additional income. She is
planning to buy and sell trendy clothes and accessories. She identified the youth as her main target market for
her small business. She is now asking your help to think of ways on how to market her products during this
time of pandemic.

What innovative strategy would you suggest Camille to do in order to become successful in her small
business?

Rubrics:
Content – 15
Grammar – 2
Organization - 3

Evaluation

Quiz for Week 11 and 12

Simple True or False

___________1. Strategic plans are made to guide a business decision, a new business venture, or an
upcoming project or initiative.
___________2. When everyone knows what their roles and responsibilities are, it’s harder to stay on track and
keep everyone accountable.
___________3. The better the cooperation amongst team members, the better the synergy and the overall
execution.
___________4. The clearer you define these responsibilities, the easier it will be to keep people accountable.
___________5. Every implementation plan must identify KPIs (Key Performance Innovation) to establish how it
will measure success and failure.
___________6. Making workers feel valued also helps maintain or improve employee retention.
Communicating goals to employees helps encourage participation and can give a plan a strong start.
___________7. Utilizing financial resources to engage in activities that are essential to the strategy.
___________8. Employee goals should be set at both the department level only, ensuring that all departments
are aligned to the overall strategy of the organization.
___________9. There are many organizations that have great strategic plans, but no plan for the
implementation process.
___________10. Strategy implementation converts the opted strategy into the moves and actions of the
organization to achieve the objectives.
___________11. Strategy Implementation is the Third stage of the Strategic Management process.
___________12. The process of strategy implementation takes places after environmental scanning, SWOT
analyses and ascertaining the strategic issues.

ENTR 1013 – The Entrepreneurial Mind | 9

___________13. The strategy is to be institutionalized, in the sense that the one who framed it should promote
or defend it in front of the members, because it may be undermined.
___________14. Organizational climate implies the way in which different parts of the organization are linked
together.
___________15. Innovation strategy is a plan to help enhance technology.

REFERENCES

Textbooks

Go, Josiah and Escareal-Go, Chiqui (2018) Entrepreneurship: Starting an Enterprise. Having an Innovation
Mindset

Online References

"Strategy Implementation: Plan, Process & Examples." Study.com, 6 March 2016,

study.com/academy/lesson/strategy-implementation-plan-process-examples.html

https://businessjargons.com/strategy-implementation.html

"What is Innovation Strategy? - Definition & Examples." Study.com, 30 October 2019,

study.com/academy/lesson/what-is-innovation-strategy-definition-examples.html

Learning Materials

1. Worksheets
2. Module

ENTR 1013 – The Entrepreneurial Mind | 10

\

SCHOOL OF ACCOUNTANCY, BUSINESS and HOSPITALITY

Second Semester
A.Y. 2020-2021

CORRESPONDENCE LEARNING MODULE

ENTR 1013 – The Entrepreneurial Mind
Lesson 12

WORKSHEET – TASKS

NAME:
COURSE & YEAR:
INSTRUCTOR:

Learning Task

Camille is planning to put up her small business during this pandemic to earn additional income. She is
planning to buy and sell trendy clothes and accessories. She identified the youth as her main target market for
her small business. She is now asking your help to think of ways on how to market her products during this
time of pandemic.

What innovative strategy would you suggest Camille to do in order to become successful in her small
business?

ENTR 1013 – The Entrepreneurial Mind | 11

Evaluation

Quiz for Week 11 and 12

Simple True or False

___________1. Strategic plans are made to guide a business decision, a new business venture, or an
upcoming project or initiative.
___________2. When everyone knows what their roles and responsibilities are, it’s harder to stay on track and
keep everyone accountable.
___________3. The better the cooperation amongst team members, the better the synergy and the overall
execution.
___________4. The clearer you define these responsibilities, the easier it will be to keep people accountable.
___________5. Every implementation plan must identify KPIs (Key Performance Innovation) to establish how it
will measure success and failure.
___________6. Making workers feel valued also helps maintain or improve employee retention.
Communicating goals to employees helps encourage participation and can give a plan a strong start.
___________7. Utilizing financial resources to engage in activities that are essential to the strategy.
___________8. Employee goals should be set at both the department level only, ensuring that all departments
are aligned to the overall strategy of the organization.
___________9. There are many organizations that have great strategic plans, but no plan for the
implementation process.
___________10. Strategy implementation converts the opted strategy into the moves and actions of the
organization to achieve the objectives.
___________11. Strategy Implementation is the Third stage of the Strategic Management process.
___________12. The process of strategy implementation takes places after environmental scanning, SWOT
analyses and ascertaining the strategic issues.
___________13. The strategy is to be institutionalized, in the sense that the one who framed it should promote
or defend it in front of the members, because it may be undermined.
___________14. Organizational climate implies the way in which different parts of the organization are linked
together.
___________15. Innovation strategy is a plan to help enhance technology.

ENTR 1013 – The Entrepreneurial Mind | 12