Definition 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:
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Staying on top of what is happening, ferreting out
issues, closely monitoring progress and learning what obstacles lies in
the path of good execution.
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Leading the development of stronger core competencies
and competitive capabilities.
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Putting constructive pressure on the organization to
achieve good results and operating excellence.
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Pushing corrective actions in order to improve strategy
execution and achieve the targeted results.
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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:
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Make sure information flows where it needs to go (up, down and lateral)(54 out of 100 relative strength)
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Clarify decision rights (50 out of 100)
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Align motivators (incentives) (26 out of 100)
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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.
Forum about Strategy Execution. Below you can ask a question about this topic, share your experiences, report a new development, or explain something.
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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 about the...
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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 robu...
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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.
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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 element...
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The Execution Premium
Kaplan and Norton wrote an excellent book about strategy execution called "The Execution Premium: Linking Strategy to Operations for Competitive Advantage"....
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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 structura...
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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 fr...
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The best, top-rated topics about Strategy Execution. Here you will find the most valuable ideas and practical suggestions.
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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 wron...
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Advanced insights about Strategy Execution. Here you will find professional advices by experts.
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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 didn’t think their company had...
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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...
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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...
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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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Various sources of information regarding Strategy Execution. Here you will find powerpoints, videos, news, etc. to use in your own lectures and workshops.
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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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