Strategy Execution

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Summary

Execution of StrategyDefinition Strategy Execution? Meaning.

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.


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Types of Strategy Implementation Tactics
Nutt identified 4 distinct implementation tactics for implementing a strategy in an organization:

1. INTERVENTI (...)
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3 comments
Goldratt's Strategy and Tactic (S&T) Tree
Contributors have noted the importance of organizational and individual participation, engagement, contribution, buy-in, (...)
7
 
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:
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1 comments
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".
Impleme (...)
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1 comments
🔥 NEW 7 Essential Behaviors of a Leader Who Executes (Bossidy & Charan)
Execution is a specific set of behaviors and techniques that an organization needs to master in order to obtain competit (...)
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1 comments
Strategy Execution Process
A proper management system must be in place for strategy execution. Most importantly strategy formulation is carried out (...)
2
 
3 comments
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 "WH (...)
2
 
Strategy Implementation Tool: The Balanced Scorecard
The Balanced Scorecard is a good tool for strategy communication, alignment, implementation and monitoring. Depending on (...)
2
 
The Execution Premium
Kaplan and Norton wrote an excellent book about strategy execution called "The Execution Premium: Linking Strategy to Op (...)
2
 
1 comments
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 c (...)
1
 
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 metric (...)
1
 
Design and Change Execution with Strategy
When strategies are designed, so must their complementary execution fabrics - together.
And when strategies adjust (...)
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2 comments

 

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The top-rated topics about Strategy Execution. Here you will find the most valuable ideas and practical suggestions.


The Achilles Heel of Strategy
The Achilles heel of strategic planning is poor or inept "implementation" of agreed and committed to action plans associ (...)
20
 
32 comments

Strategy Implementation Barriers (Kaplan and Norton)
According to Norton and Kaplan, following 4 barriers interfere in implementing a strategy (Norton & Kaplan, 1996):
(...)
16
 
2 comments

The 4 Cs to Support Strategy Implementation
It is relatively more easy to define the strategy than implemented. Top management can support the strategy execution pr (...)
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4 comments

3 Tasks to Successfully Execute a Strategy
Three tasks should be performed to accomplish successful execution of the strategy:
1. Define what to do by whom by (...)
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4 comments

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 (...)
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4 comments

Expert Tips

Advanced insights about Strategy Execution. Here you will find professional advices by experts.


5 Best Practices to Close the Strategy to Execution Gap

Strategy Execution, Strategy Focus, Organizational Commitment,
In an ongoing global survey of senior executives, more than half of respondents said they didnt think their company had (...)

How to Become a Self-tuning Enterprise: Advanced Experimenters

Organizational Agility, Strategic Agility, Real Options, Emergent Strategy
In an HBR article of June 2015, Reeves, Zeng and Venjara argue there's a new way to apply algorithmic principles that en (...)

Six Crucial Mind Shifts for Strategy Execution / Implementation

Change Management, Strategic Change, Resistance to CHange, Strategy Implementation
Speculand (2009) suggests six mind shifts that people should consider when they're implementing new strategies in organi (...)

How to Align Sales People with the Strategy

Strategy Execution, Employee Participation, Aligning Sales with Strategy, Strategic Alignment
Strategy is an important but sometimes underestimated component within the sales department of organizations. This is ca (...)
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The Strategic Role of Public Relations and Communication in Business

Public Relations, Strategic Management, Corporate Responsibility, Stakeholder Management, Stakeholder Analysis
Presentation about the role public relations and communications in business strategy implementation and execution. The p (...)

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Compare also: Change Management Iceberg  |  Appreciative Inquiry  |  Management By Objectives  |  Strategic Management

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