PLEASE EXPLAIN THE STAGE 4 TO 6 ONLY for my report. Asap please! Thank you Below are the key stages involved in a successful implementation for competitiveadvantage.Implementation StageStage 1People, skills, and organizational structureStage 2Organizational cultureStage 3Reward systemStage 4Resource requirementsStage 5Supporting activitiesStage 6Strategic leadership*********Key Questions to Ask in This Stage• When must the strategy/strategic initiative be implemented? (How flexible isthat date?)• Who is going to do it? What human skills are needed?• Do affected employees understand their roles?• Will the organization need to hire or lay off people? If so, how should it goabout it?• How should the firm be organized? What structure should be implemented?Why and how?• What culture in the organization is required for the implementation to besuccessful?. If the current culture differs from the culture needed for the success of thestrategy implementation, how should the firm go about changing its culture?• Is a reward structure in place to accomplish the task?• If not, what type of reward structure needs to be introduced to ensuresuccessful strategy implementation?• What resources (financial and otherwise) are needed?Are they in place?• If not, how can the firm obtain the required resources?How is the implementation to be supported?What policies, procedures, and IT support are needed?• Does the firm need external help (e.g., consulting services)? If so, what kindof services would the firm need, and why?• What types of strategic leaders are required to make the change happen?• Does the firm have them in-house?• Should the firm hire some strategic leaders from outside?• How should the firm train its managers to create a pipeline of strategic leaders?Lifted from Strategic Management by Frank Rothaermel, 2017

Resources needed:- Financial resources - money, cash flows , Foreign exchange Human Resources:-…

Answered: PLEASE EXPLAIN THE STAGE 4 TO 6 ONLY…

Management, Loose-Leaf Version

13th Edition

ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter8: Strategy Formulation And Execution

Section: Chapter Questions

Problem 2EE

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