Strategy Development and Implementation – Process and Factors Influencing the Result: Case Study of Latvian Organizations

Abstract

Paper presents analysis of the management survey data, identifying the factors that influence strategy development and implementation. Paper describes significance of employee involvement in the strategy development process, defining incentives for employees, creation of activity plan, regular overview of achieved results and necessity of revision of the strategy - contrasting the usage of such approaches to overall success of the strategy implementation. Analytical part provides a management-performed self-evaluation of strategy implementation process and by the help of performed factor analysis and GLM ANOVA analysis indicates such key factors as – creation of activity plan for strategy implementation; regular overview of the strategic plans; making strategy accessible to employees and motivation of management to cascade the tasks - that influence efficient strategy implementation process.