An Exploratory Paper on Strategy Implementation: Industry Look at Some of the World’s Most Profitable and Most Innovative Companies

Abstract

We could have a great debate about which concepts, theories, or frameworks are the most effective when it gets to achieving profitable growth, particularly as it pertains to innovation. Despite the fact that some of these concepts and theories are more prominent than others, several have been proven to be effective when implemented by real organizations. This raises several questions regarding the selection criteria and the dynamics among these strategic frameworks. The purpose of this exploratory paper is to shed some light on the different strategy implementations at some of the most profitable and innovative organizations in the world. The high-level and practice-based research has revealed that successful organizations have formulated and executed different strategies and did not limit themselves to a single approach. In fact, some organizations have implemented several strategies simultaneously. The observed multi-strategy formulation and implementation suggests that strategic concepts, theories, and frameworks could be complementary in nature. While this paper is not intended to serve as a literature review, the findings were insightful in terms of the realization of multi-strategy implementation in organizations as well as directing new research to focus on the dynamics among different strategies.