Operationalizing a strategy NameInstitutionInstructorCourseDate Operationalizing a strategyOperationalizing a strategy involves the process of formulation of the strategy and its implementation, which is based on the strategic goals and budget framework of an organization (Griffin & Cengage Learning, 2017). It is important to plan effectively the implementation process to enable a smooth and a successful implementation process. The greatest challenge of operationalizing a strategy across various business functions includes the provision of adequate required resources to enable an effective process (Griffin & Cengage Learning, 2017).
Resources are important in the execution process according to the defined objectives integrating all associated programs and maintaining the focus on the goals and objectives. Some of the important resources include financial resources, timelines, and the required structures (Bosch-Badia, Montllor-Serrats, & Tarrazon-Rodon, 2015).Planning is a vital management function to provide the vision and direction of the organization in achieving the desired goals and objectives. The challenges change depending on the circumstances across different organization functions (Bosch-Badia, Montllor-Serrats, & Tarrazon-Rodon, 2015). Translating a strategy into results is a major challenge for majority of the managers across many organizations as this process is not easy and requires a lot of innovation and other resources to support this process (Bosch-Badia, Montllor-Serrats, & Tarrazon-Rodon, 2015).
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An example is in the field of nursing where a registered nurse in the United States will have an increased number of patients due to high demand for healthcare services due to better-informed patients. Due to the changing healthcare needs, healthcare demand is continuously increasing worsening the execution of underfunded strategies (Griffin & Cengage Learning, 2017).These complex healthcare needs also require trained and skilled personnel, which may be addressed if qualified and experienced personnel are integrated in the execution process (Bosch-Badia, Montllor-Serrats, & Tarrazon-Rodon, 2015). Skilled and experienced nurses can be able to address some of the challenges affecting the operationalizing of a strategy. External factors can also determine the implementation and execution of strategies, which can be seen in a healthcare setting. External factors, which include regulations, can impact how nurses perform their roles and duties as determined by nursing professional bodies (Bosch-Badia, Montllor-Serrats, & Tarrazon-Rodon, 2015).
ReferencesBosch-Badia, M., Montllor-Serrats, J., & Tarrazon-Rodon, M. (2015). Corporate Social Responsibility: A Real Options Approach to the Challenge of Financial Sustainability. PloS one, 10(5).Griffin, R. W.
, & Cengage Learning. (2017). Management. Boston: Cengage Learning.