Strategy Execution

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Description of Strategy Execution. Explanation.

Definition Strategy Execution. Description.

Strategy implementation is the part of strategic management that deals with the managerial exercise of supervising the ongoing pursuit of strategy, making it work, improving the competence with which it is executed, and showing measurable progress in achieving the targeted results. According to some people, Strategy Execution is more important for the success of any firm than the actual strategic choices that are made.

Perhaps the traditional distinction between top level managers formulating the strategy and the lower levels implementing the strategy should be abandoned, and the key to good strategy execution is getting the executors to participate and think out of the box or out of their normal working mode.

Leading the drive for good strategy execution calls for several actions on part of the managers in charge:

• Staying on top of what is happening, ferreting out issues, closely monitoring progress and learning what obstacles lies in the path of good execution.

• Leading the development of stronger core competencies and competitive capabilities.

• Putting constructive pressure on the organization to achieve good results and operating excellence.

• Pushing corrective actions in order to improve strategy execution and achieve the targeted results.

• Displaying ethical integrity and leading social responsibility initiatives.

In an HBR article (June 2008, p. 61-70), Gary L. Neilson, Karla L. Martin and Elizabeth Powers from Booz & Company report some interesting findings from a large scale internet assessment. The 4 inextricably linked things that turn out to matter most to successful strategy execution are:

1. Make sure information flows where it needs to go (up, down and lateral)(54 out of 100 relative strength)

2. Clarify decision rights (50 out of 100)

3. Align motivators (incentives) (26 out of 100)

4. Make changes to the organization structure (25 out of 100)

The authors recommend to start the strategy execution process with clarifying the decision rights and improving the information flow. Then the right organizational structures and motivators will tend to fall into place.

Strategy Execution Special Interest Group Special Interest Group (296 members)

Strategy Execution Forum   Recent topics   Types of Strategy Implementation Tactics Nutt identified 4 distinct implementation tactics for implementing a strategy in an organization: 1. INTERVENTION IMPLEMENTATION ...           Strategy Implementation Tool: The Balanced Scorecard The Balanced Scorecard is a good tool for strategy communication, alignment, implementation and monitorin...           WHEN does a Strategy have to be Executed? We talk a lot about procedures, methods etc. to create, change or adjust any strategy but do you have any idea about "WHEN" those intended changes mus...

Best Practices - Strategy Execution   The Achilles Heel of Strategy The Achilles heel of strategic planning is poor or inept "implementation" of agreed and committed to action plans associated with the strategy....           Strategy Implementation Barriers (Kaplan and Norton) According to Norton and Kaplan, following 4 barriers interfere in implementing a strategy (Norton & Kaplan, 1996): 1. The vision barrier -...           The 4 C´s to Support Strategy Implementation It is relatively more easy to define the strategy than implemented. Top management can support the strategy execution process with the four ...           Strategy Execution: Shared Vision, Shared Values, Shared Victory Shared vision Shared values Shared victory Strategy is just an implementation process which can be of any form or shape. We talk much a...           3 Tasks to Successfully Execute a the Srategy Three tasks should be performed to accomplish successful execution of the strategy: 1. Define what to do by whom by when. 2. Focus on...         All you need to know about management   Goldratt's Strategy and Tactic (S&T) Tree Contributors have noted the importance of organizational and individual participation, engagement, contribution, buy-in, line of sight, etc. To underw...           3 Demands for an Effective Strategy According to Ruud Frambach and Edwin Nijssen there are three demands that must be met for a strategy to be effective: 1.           Don't Ask what the Company Can do for You.. A variation on the theme "Don't ask what the country can do for you, ask what you can do for your country". Implementing strategy is difficult wh...           Strategy Execution Process A proper management system must be in place for strategy execution. Most importantly strategy formulation is carried out by top management and ...           The Execution Premium Kaplan and Norton wrote an excellent book about strategy execution called "          The Secrets to Successful Strategy Execution A brilliant strategy may put you on the competitive map. But only solid execution keeps you there. Unfortunately, most companies struggle with impleme...           Company and Business Stress Test Self Assessment The Strat/Assess System delivers a business stress test addresses the points of success and failure with a unique metrics dashboard, identifyin...           Design and Change Execution with Strategy When strategies are designed, so must their complementary execution fabrics - together. And when strategies adjust to change and market re...

Expert Tips - Strategy Execution   5 Best Practices to Close the Strategy to Execution Gap       How to Become a Self-tuning Enterprise: Advanced Experimenters       Six Crucial Mind Shifts for Strategy Execution / Implementation       How to Align Sales People with the Strategy     Advance yourself in business administration and management

Resources - Strategy Execution The Strategic Role of Public Relations and Communication in Business     News about Strategy Execution         Videos about Strategy Execution         Presentations about Strategy Execution         Books about Strategy Execution         More about Strategy Execution       Accelerate your management career

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This ends our Strategy Execution summary and forum.