Corporate Strategy not Working? 4 Strategy Execution Tips for Success

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Is your carefully designed strategy working? If not, do you know why? The reason it is not working as you had hoped may not be your strategy per se but instead it might be summed up in one word that is not on the chart above: execution.

Even good strategies fail. Let’s define strategy as a roadmap to success. There are many rationales why even well-conceived strategies do not deliver results…the workforce may not have been properly prepared for the change of direction, the strategic focus may have shifted, the plan may not fully account for all the variables that need to be in sync for success, or the critical people may not have received the message. Basically there is a failure to carry out the plan and follow through.

Assuming you are clear on the goal, have most of the talent you need and have created a corporate culture that can sustain your plan, the success of a strategy ultimately depends on your ability to execute.

Here are four corporate strategy execution tips to get back on course:

  1. Include enough detail.Your strategy should be simply stated and clear but,just as with any workable project plan, there should be enough detail behind it to guide the path toward achievement. Create a model for implementation that will monitor and mark progress step by step.
  2. Establish success measures that help you keep on track.Financial performance alone will not tell you whether or not you are achieving desired results. Consider leading and lagging metrics that predict and measure success that are within your control and relate directly to what strategic success will look like along the way.
  3. Keep at it and assess frequently. The temptation is to change focus once you’ve put things in motion…just like New Year’s Resolutions that last only through February. Keep executive attention on strategy execution, not just the day-to-day workings of the business. Do this by setting frequent and regular meetings that have a stated objective of taking stock of strategy implementation progress and making adjustments as necessary.
  4. There should be clear lines of communication between leaders at all levels and the employees on the line who are charged with actually carrying out the strategy. Dialogue between employees, managers and executives should be open in order to encourage commitment and accountability and to be able to deal swiftly with issues as they arise.

 

To learn more, please download this strategic clarity whitepaper: http://www.lsaglobal.com/whitepaper-download/strategic-clarity-best-practices-whitepaper-download-strategy-clear-enough-act-probably/

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