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Chapter 12: Strategic Leadership (SL) - page 23 / 25

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Key Strategic Leadership Actions

Developing Reward Systems

It can be argued that rewards are the single most powerful tool for winning the commitment of employees to effective strategy implementation

Rewards are an important tool used to achieve behavioral control.

Firms should create a results oriented system in which those achieving objectives are generously rewarded and those not achieving objectives are not rewarded

Rewards and incentives should also be tied to strategy:

Cost leaders should reward people for being efficient and for identifying ways to reduce costs

Differentiators should reward people for being innovative

The bottom line is that firms need to reward and motivate people in ways that are supportive of strategy and strategy implementation

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