April, 2010    SMM-062

Discretion is the better part of value

Without effective implementation, strategic planning is a futile exercise. In knowledge-intensive markets, such as those for pharmaceuticals and medical technology, the most important, value-creating parts of strategy implementation rely on the discretionary activity of motivated, committed individuals. This article reviews previous research into individual motivation and commitment and draws from it five recommendations for improving strategy implementation, all of which contradict typical management practice.