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strategy execution Tagged Articles
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FOUR WAYS TO ENSURE LEADERSHIP RESPONSIBILITY
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| Leadership responsibility is the foundation of effective strategy execution; its management 101. Why do some organizations maintain high levels of leadership accountability and others fall short? |
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THREE FACTORS MAKE PERFORMANCE MANAGEMENT A SUCCESS
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| Over 50% of HR professionals and line managers do not believe their performance management systems support strategy execution. |
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False Dichotomy! (If Anything, Backwards!)
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| False Dichotomy!
(If Anything, Backwards!)
I was asked to contribute "a paragraph" to a writer who was doing a magazine article on "management" "versus" "leadership."
Herewith my contribution: |
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Strategy Execution: Why We Fail At Strategic Implementation
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| Why do so many organizations fail at strategic implementation? The quality of an organization’s strategic plan is not the primary determinant of success in goal achievement. No, the primary factor is that success hinges on execution. This article is part 1 of a two part series and examines some of the most common root causes of organizations and their leaders to miss the mark on strategic implementation. In part 2 of the series we map out an approach for successful strategic execution.
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“Don’t We Have People For That?”: Operational Planning & Strategy Execution
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| No business likes to admit it, but most are lacking in the know-how, competencies (skills, knowledge, experience) and discipline to carry off precise execution of strategic goals. This article addresses just how critical operational planning is to having good execution and offers help to those organizations who struggle with why and how to do it. |
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Strategic is "Pounding on the Basics"
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| The Strategic Action category is replete with mergers, acquisitions, new products, new markets and partnerships and alliances, but taking care of the Basics 24X7X365 always seems to get left out.... |
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Do You Really Want to Build a Faster Strategic Plan?
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| How long should the process take to create your corporate strategic plan and get the job done right? Even if the plan is created in a week’s time (and it won’t be), is the job really done? Has everything that needs to be done to support the strategy roll-out been addressed? |
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Align Your Strategy and Operational Plans to Core Competencies
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| Core competencies are the underpinnings of an organization’s skills and the cornerstone of successful strategic execution. Core competencies represent the fundamental knowledge, abilities, and expertise of an organization. They are what make individuals and organizations unique. Furthermore, your ability to understand and measure organizational core competencies is a critical factor in reaching your desired goals.
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3 Common Causes of Corporate Strategy Misalignment
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| A recent artcile on corporate strategy covered the symptoms of corporate strategy misalignment. As discussed, a properly aligned corporate strategy will align strategic goals with the operations and execution tactics necessary to fulfill the organization’s desired outcomes. With a well-aligned corporate strategy, the entire organization – both internally and externally – will move in the same clearly-defined direction. Left to its own devices, a strategy that is misaligned will result in operational initiatives that are out of sync with strategic goals, missions that drift operationally off course, and chaos that compounds into serious consequences.
Now it’s time to consider the causes of corporate strategy misalignment. |
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Symptoms of Corporate Strategy Misalignment
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| Strategy misalignment is subtle and sometimes difficult to spot. Yet without a properly aligned corporate strategy, you are likely to introduce a serious dose of chaos into the organizational environment.
Corporate strategy is the blend of strategic goals that support the mission and vision of an organization. When a corporate strategy is aligned, the key outcomes (strategic goals) of the organization are united with operations and execution tactics. In other words, all parts of the organization’s eco-system (the sum of internal and external functions of an organization’s environment) are moving in the same well-defined direction. When strategy is misaligned operational initiatives are out of sync with the strategic goals of the organization, mission drift occurs within the operations of the business, |
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Focus on the critical few.... rather than the trivial many!
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| Too many growth companies are overwhelmed by lengthy plans and the distraction of the trivial many. Their CEOs find themselves drowning in detail, solving the crise du jour but unable to focus on those few things that would make growth happen. Cast as heroes, they play brilliantly, but dismally fail the audition from actor to director.
Great CEOs identify and pursue the ‘critical few’. They make hard choices, adopt an unreasonable stubbornness and ensure each team member is clear and accountable. They leave no fudge room.
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Strategic Planning - Business Executive Essentials - Part 7 of 12
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| In this week’s edition, part 7 of this 12 part article series on corporate strategic planning, we will continue the discussion on planning, but examine some other key attributes for consideration. As we all know, corporate strategies will never be perfect or foolproof, but you may not realize how much they can be systematically improved through process changes. Our corporate strategies are what determines the directional flow of our business, such as markets to be entered or exited, products to be enhanced through innovation programs and acquisitions that will solidify competitive price advantage through supply-chain integration. As such, it must be holistic in interpreting and leveraging our business enterprise to be truly effective. That leads us to the next topic to discuss - factors that can help or, in some cases, impede execution |
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Can We Trust Our People To Execute?
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| Our entire executive team is usually very involved in the creation of the strategic plan, so they most likely “get it”. Presumably, they are vested. But what about the levels below the execs? |
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The Importance of On Demand Customer Service
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| I am constantly amazed by the fact that some companies don’t bother to respond to website information requests…acknowledge voice mails…reply to emails, etc. It’s safe to say that being totally ignored represents the extreme end of the (bad) service spectrum and very few will argue that “indifference” is not a good customer service strategy. But what constitutes reasonable or excellent service in today’s marketplace? Are consumers more demanding today than in the past? |
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Plan Governance: Without it, you have a bag of strategy & a box of plans
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| Strategic plans without follow-through will collect dust and never be executed as intended. Plan governance is the essential “follow-through ingredient” to set the wheels in motion for strategy execution. |
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The Truth About Why So Many Strategic Plans Don’t Get Executed
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| Last week I was asked the question by a client prospect, “so how many retreats will we be doing as part of the strategic planning process?”. That got me to thinking about just how many of these retreats are probably happening in hotels across the U.S. this fall. Strategic planning retreats are a joke in terms of producing meaningful strategic plans, yet every year companies go through this ritualistic planning process. The problem is, virtually all of these so called strategy retreats provide very little value in terms of desired strategic planning outcomes. |
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Other strategy execution Related Articles
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The Heart of Business Strategy: 48 Things That Matter
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| We usually think of business strategy as some sort of aspirational market positioning statement. Doubtless that's part of it. But I believe that the number one "strategic strength" is excellence in execution and systemic relationships (i.e., with everyone we come in contact with). Hence I offer the following 48 pieces of advice for creating a winning strategy that is inherently sustainable: |
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Take Control and Increase Growth – Article 3
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| The purpose of this article is to help business owners understand the key daily decisions that influence dependence on external funding and either limit or expand the growth potential of a business. There are essentially 4 decisions: 1. cash; 2. people; 3. strategy; and 4. execution. This article (#3) addresses strategy, which is the primary driver of growth. If you are not growing in the top tier of your industry segment you have a strategy problem. In this article are ideas to help you develop your strategy. |
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What Is a Strategy Map & Why Do I Need One?
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| Review of Strategy Maps and how they enhance the strategic planning and execution process. Strategy Maps are the foundation for Balanced Scorecards. |
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A, B, C's of Execution
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| The anchor of any execution plan is your organization's strategy; it informs and drives every tactic and activity that people are engaged in. I see too many organizations executing a number of tactics with no strategic plan or context to give them meaning.
So, before describing what 'good' execution looks like, make sure you have a strategy to lean on. If not, go back to square one and create one. In addition, when creating your strategy, spend significant time on thinking through implementation. Avoid the trap of spending 80% of your time on the essence of your strategy and 20% on execution. Reverse your focus and spend 80% of your time on executional planning.
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Can you describe the strategy for your business growth in 6 words?
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| Most strategies fail to get executed because the folk charged with execution don't understand the strategy or it has not been personalised sufficiently for them to take appropriate action. Being able to describe our strategy succinctly increases the likelihood of buy-in and personalisation. |
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Execution All-Stars: Five Famous Companies That Bridged the Execution Gap (and How They Did It)
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| Ever wonder why some companies consistently meet their goals and others don’t? So did I. And when my consulting firm conducted a study of 400 companies, we found some answers.
We discovered that there are five factors that set apart the organizations with the best performance results and those more effective at execution. I think of them as ‘The Five Bridges’ because they help companies close the gap between strategy and execution.”
To see what the bridges look like in action, let’s look at a handful of well-known companies that execute exceptionally well.
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Why Do Business Strategies Fail?
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| A survey of senior executives at 197 companies showed that firms achieve only 63% of the expected results of their strategic plans. The key reason – they don’t know how to execute effectively. Without effective execution, no business strategy can succeed. Unfortunately, many managers know far more about developing strategy than about executing it … |
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3 Common Causes of Corporate Strategy Misalignment
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| A recent artcile on corporate strategy covered the symptoms of corporate strategy misalignment. As discussed, a properly aligned corporate strategy will align strategic goals with the operations and execution tactics necessary to fulfill the organization’s desired outcomes. With a well-aligned corporate strategy, the entire organization – both internally and externally – will move in the same clearly-defined direction. Left to its own devices, a strategy that is misaligned will result in operational initiatives that are out of sync with strategic goals, missions that drift operationally off course, and chaos that compounds into serious consequences.
Now it’s time to consider the causes of corporate strategy misalignment. |
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Qualities of an Effective Corporate Strategic Planning Process
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| Corporate strategic planning is intended to provide both the direction (strategy) and the actions (execution) needed to achieve strategic goals. The combination of smart strategy and successful execution is the hallmark of a great planning process. Does your planning process have the qualities to translate strategy into successful business execution? |
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Lining Up The Pillars Of Your Strategy: Syncing Strategy With Operations
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| Is your organization’s strategy embodied in your business operations? How confident are you, as the champion of your strategy, that it is on track within the layers of your business operations? Strategy alignment is the synchronization of strategic goals with operations and execution tactics. Strategy “misalignment” occurs when operational initiatives are not in sync with the defined strategic goals of the organization. Most organizations inherently suffer from some amount of immaturity and unsophistication in their planning process, and this directly leads the the misalignment issue you want to avoid. |
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