It Is Important to Close the Strategy Execution Gap
To close the strategy execution gap in a meaningful way, leaders must agree upon and commit to a set of specific priorities focused on achieving clear goals. According to a recent survey of almost 600 senior global executives by Economist Intelligence Unit 88% of executives consider successful strategy execution to be “very important” or “essential.”
It Is Difficult to Close the Strategy Execution Gap
Strategy execution however is easier said than done. And not surprisingly, companies that struggle to close the strategy execution gap report weaker financial performance.
3 Steps to Close the Strategy Execution Gap
If you want to outperform your peers and close the strategy execution gap, follow these three steps.
1. Create Unquestionable Strategic Clarity
Our organizational alignment research found that strategic clarity accounts for 31% of the difference between high and low performing organizations in terms of revenue growth, profitability, customer loyalty and employee engagement. You will know you have enough strategic clarity to set the stage to close the strategy execution gap when those who are responsible for creating, leading and executing the strategy:
Before a strategy can be properly implemented, you must have leadership buy-in and support. Then, key stakeholders need to understand why it is necessary, what it will do, how they will be good at it, what their role will be and how it will be supported throughout the organization by the right leaders and with adequate resources. High performing teams spend more time creating a shared strategic clarity and aligning the organization around that strategy than their peers.
2. Effective Strategy Translation
Once you have created unquestionable strategic clarity strategy with your key stakeholders you must effectively communicate your strategy to those who matter most. The most frequently used method of communicating strategy is through cascading the strategic imperatives and deliverables from the C-Suite to Managers who then translate the strategy into day-to-day operations for their employee teams.
The highest performing teams spend more time helping stakeholders directly translate the overall strategy into actionable goals while simultaneously identifying barriers and clarifying cultural guardrails.
The secret to effective strategy communication is to actively involve as many employees as possible in thoughtful, active participation in translating the strategy into day-by-day contributions and deliverables. To truly close the strategy execution gap, you should plan on spending twice as much time with every level of the organization on execution as you did on design.
For example, if your executive team spent one month designing the strategy and held a two-day strategic planning offsite, plan on spending two months and four days with their direct reports to get the same level of commitment and ownership.
3. Empower Employees to Implement the Strategy and Hold Them Accountable
When it comes to improving your chances of strategic success, micromanagement does improve strategy execution. High performing teams that consistently close the strategy execution gap spend more time empowering employees to define and deliver their unique contribution by:
The Bottom Line
The more you can actively involve employees in strategy design and implementation, the better your chances at being able to close the strategy execution gap that eludes 44% of companies. What percentage of time do your leaders spend fighting fires versus actively engaging stakeholders and purposefully aligning the organization around the critical few priorities?
To learn more about successful strategy execution, download 3 Big Mistakes to Avoid When Cascading Your Corporate Strategy
Corporate Change Is Personal
We recently contacted LSA Global to assist us with a unique training request. We gave LSA a very short deadline and LSA custom designed a training program to meet our exact requirements within the limited time allotted to them. We found their facilitator to be well versed in the subject matter and very credible; the design provided practical and valuable information to our team of managers. I highly recommend LSA Global, particularly in the area of management training.
Julaine K. Souza
Senior Vice President
We have been able to utilize LSA’s extensive network of top-notch resources to leverage our investment in employee development. The result has been the cost effective and highly efficient delivery of quality educational and management training programs.
Vice President, Human Resources
We consider LSA Global our outsourced learning and development partner. We worked closely with LSA to customize a management development program to meet our growing business needs. I would highly recommend LSA to any company wanting to deliver quality learning solutions.
Vice President Human Resources
LSA helped to meet the needs of my teams within a very narrow timeframe. My team walked away with highly useful management tools and practices. LSA saved us time in delivering the right solution for our specific needs.
Director, Software Engineering, EPG
Over the years, both at 3Com and now at Redback, I’ve found LSA Global to be a valuable resource. The recent compliance program that they delivered for Redback’s executive and management team was the right solution, of the highest of quality, and customized to our business and culture. I would highly recommend LSA to any company looking for top quality solutions.
Vice President of Human Resources
LSA provided top notch solutions right when and how we needed them. They exceeded my expectations from a speed, quality, and cost standpoint. I recommend them to anyone looking for a true business partner in the Learning and Development arena. The breadth and depth of their expertise has helped us hit tight deadlines across multiple projects.
Fortune 500 Financial Services Company
Director of Infrastructure & Technology
The refreshing thing about LSA is that they focus on understanding our business situation and helping me succeed instead of selling a product. With over 150 experts, they are an invaluable resource that helps me deliver higher quality results faster. I recommend them to anyone looking to improve the performance of their workforce.
VP of Human Resources
LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!
Director of HR
LSA custom designed a Management Development program that is absolutely “on target” for our technical managers. Their facilitator has done a superb job delivering the material in a way that is fast paced, highly interactive, and fun. She presents practical solutions to the people situations that our managers face every day. I regard LSA as an excellent partner that understands our business needs and a virtual member of our HR department.
Vice President Human Resources
Congratulations on your pro-activity in establishing this program and developing such an effective New Employee Orientation course.
President and Chief Executive Office
I had been working with LSA for many years with my prior company. Currently, I’m with a company who hadn’t done much basic management skills training. After identifying and presenting a program recently, our managers are excited and talking in the halls about the great experience. LSA saves us time in delivering the right training for our needs.
We recently partnered with LSA Global to offer our Supervisors and Managers a customized two-day management training program. Everyone who attended said it was by far the best management training program they had ever attended. The content was rich and highly interactive. The case studies were relevant. Each participant walked away from the training much better equipped to lead their teams.
Director of Human Resources
On behalf of Roche and my staff I would like to sincerely thank you for your help with this. The English as a Second Language (ESL) assessment and coaching that you provided for our team was a great success.
We contacted LSA to help us with customized management development. LSA worked with me to identify a solution that would meet our exact needs. We decided to start at the top and ran the program for our executive team. It was such a great success that we hope to roll it out companywide. We look forward to a long-term partnership with LSA Global and their team of experts.
Barry L. Byrd, SPHR
Human Resources Manager
What a refreshing change from the half-baked psycho-babble you normally get from training and consulting organizations. LSA gives you the practical and results-oriented assistance you need to define and reach your goal. They provide a results driven plan – not just a temporary fix. They are great to work with, and even more importantly, they “get it!”
Vice President Human Resources
Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.
Want to know how you stack up against leading organizations? Receive a complimentary benchmarking analysis courtesy of an LSA Expert.
Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.
First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.
Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.
Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.