Strategy Execution

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Description of Strategy Execution. Explanation.

Definition Strategy Execution. Description.

Some people believe that Strategy Execution is more important for the success of any firm than the actual strategic choices that are made. Strategy implementation 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.

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 Forum   Strategy Implementation Tool: The Balanced Scorecard The Balanced Scorecard is a good tool for strategy communication, alignment, implementation and monitoring. Depending on the strategy implementation tactic. A properly d...           Types of Strategy Implementation Tactics Nutt identified 4 distinct implementation tactics for implementing a strategy in an organization: 1. INTERVENTION IMPLEMENTATION Frequency of occurrence: 21% Key features: 1. A manager is delegated authority ...           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 must be carried out? What are the underlying elements upon which we base our decision regarding th...           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. The strategy must contain a clear choice. It has to give information a...           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 about shared vision but less of shared values (to pursue the particular shared vision) which vary fro...           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 when the expectations of the layers in the organization aren't managed properly. Explain and explain 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 key tasks which drive important goal achievements. 3. Measure and communicate the key task sta...           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 underwrite the successful execution of rigorous and robust strategies. Likewise contributors have str...           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 - only 5% of the workforce understands the strategy 2. The people barrier - only 25% of managers...           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 C's or 4 Pillars: - Commitment: build commitment to the strategy and KSFs. -           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 implementation. That’s because they overrely on structural changes, such as reorganization, to execute thei...           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 realities, so must execution fabrics change as well. Execution fabrics depend on not only what's ...           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, identifying required competencies. This approach differentiates from standard business plan formats: ...           The Execution Premium Kaplan and Norton wrote an excellent book about strategy execution called "...           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 strategy execution is carried out by middle management. The focus has to be on proper training ...         Begin a new topic

Strategy Execution Special Interest Group Special Interest Group

Best Practices - Strategy Execution Premium   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. Poor or inept implementation stems from having the wrong people in critical leadership posi...

Expert Tips - Strategy Execution Premium   5 Best Practices to Close the Strategy to Execution Gap In an ongoing global survey of senior executives, more than half of respondents said they didn’t think their company had a winning strategy, and two-t... Usage (application): Strategy Execution, Strategy Focus, Organizational Commitment,       How to Become a Self-tuning Enterprise: Advanced Experimenters In an HBR article of June 2015, Reeves, Zeng and Venjara argue there's a new way to apply algorithmic principles that enables organizations to constan... Usage (application): Organizational Agility, Strategic Agility, Real Options, Emergent Strategy       Six Crucial Mind Shifts for Strategy Execution / Implementation Speculand (2009) suggests six mind shifts that people should consider when they're implementing new strategies in organizations. These are outlined an... Usage (application): Change Management, Strategic Change, Resistance to CHange, Strategy Implementation       How to Align Sales People with the Strategy Strategy is an important but sometimes underestimated component within the sales department of organizations. This is caused party by the C-suite who ... Usage (application): Strategy Execution, Employee Participation, Aligning Sales with Strategy, Strategic Alignment

Resources - Strategy Execution Premium The Strategic Role of Public Relations and Communication in Business Presentation about the role public relations and communications in business strategy implementation and execution. The presentation includes the follo... Usage (application): Public Relations, Strategic Management, Corporate Responsibility, Stakeholder Management, Stakeholder Analysis     News Strategy Execution         Videos Strategy Execution         Presentations Strategy Execution         More Strategy Execution

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This ends our Strategy Execution summary and forum.