How to Increase the Odds of Successful Strategy Execution

A gambler moving chips in hopes of Successful Strategy Execution

Successful Strategy Execution
Strategic vision needs successful strategy execution to create sustainable results.  While a runaway product (e.g. the iPhone) or an innovative technology (e.g. cloud computing) can put you and your company on the path to success, successful strategy execution is the difference between short- and long-term staying power.

Blinded by Success
Blockbuster growth can also hide significant strategy, culture and talent flaws that will rear their ugly head when your competitive advantage undeniably shrinks (e.g. Sony PS2 when the Nintendo Wii came out.)

High Strategy Execution Failure Rate

  • According to recent research by Harvard Business Review, employees at 60% of companies rated their organization weak at strategy execution. They defined strategy execution as “the result of thousands of decisions made every day by employees acting according to the information they have and their own self-interest.”
  • IBM found that less than 10% of well formulated strategies are effectively executed.
  • Our own research found that employees believe the strategic priorities to be 50% less clear than the executive team.

Strategic Clarity Sets the Stage for Successful Strategy Execution
We think it’s a matter of the strategies having problems from the start. Our organizational alignment research found Strategic Clarity accounts for 31% of the difference between high and low performing teams and organizations.


RELATED DOWNLOAD: Is Your Strategy Clear Enough?


Strategies Must Adapt to Support Successful Strategy Execution
Effective strategic plans allow companies to take advantage and win in light of their assumptions about their markets, customers, competitors and employees – as long as your strategy actively adapts. Our organizational alignment research rated Market Responsiveness and Timely Information Flow Across Boundaries in the top four attributes required for high levels of:

  • revenue growth
  • profitability
  • customer retention
  • employee engagement

Underperforming companies persist, despite major shifts in their predictions, in following their strategic plan step-by-step, year-by-year without sharing concerns, plans and alternatives.

How to Increase the Odds of Successful Strategy Execution
Once your strategy is clear enough, believable enough and implementable enough, the best companies design strategy execution approaches that fit today’s complexity, volatility and uncertainty. Their successful strategy execution methodologies are:

1.  Continuous
Companies that assume there are multiple paths to reach their business goals are better at maintaining the overall direction of their journey. They make short-term decisions that keep them on the general track of their long-term destination. They move from one strategy agenda item to the next in a continuous process that adjusts to changing conditions.

2.  Flexible
Executing a strategy that is overly constricted by timelines and specifics can send a company down the wrong path. While second-guessing and lack of commitment can hamper successful strategy execution, the strategy needs to collectively flex with the shifting sands of your marketplace, competition, customers, technology advancements, economic fluctuations and governmental regulations.

3.  Diverse
A strategy that banks too much on one aspect of the business has risks that make the overall company vulnerable. Successful strategy execution allows for a variety of ways to shift investments and resources so that if one path to the future is closed off, another can be opened up.

4.  Responsive
Successful strategy execution relies on being able to quickly adjust to and overcome unforeseen obstacles. Speed matters. Without the ability to move quickly, the competition can fill the space and grab the opportunity.

5.  Experimental
Another aspect of a successful strategy execution is the ability to intelligently test and learn from experiences without taking unnecessary risks. Take every opportunity to test the waters a little at a time before venturing far from port. You can learn from the results and refine the strategy accordingly.

The Bottom Line
A clear, believable and implementable strategy is a must.  It is where you have to begin.  But don’t neglect to design strategy execution elements that allow you to make moves, assess results and refine plans as you go.

To learn if your strategic growth plans are clear enough to execute across your organization, download 7 Strategic Clarity Warning Signs to Pay Attention To

Comments are closed.

LSA has been a tremendous asset to my portfolio, both at my current company and my past company. As an HR leader, I am always looking for ways to find external resources that can provide a solution to our management training needs. LSA does that for me. Their solutions are presented in a much more leadership-oriented manner so as to be crisp, business relevant, and easy to apply right back on the job. I will continue to augment our programs using LSA solutions.

Ken Boehm
VP of 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.

Sandeep Kumar
Director, Software Engineering, EPG

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.

Jeff Coon
Director of Human Resources

“We turned to LSA to help us custom design and deliver a leadership and management development curriculum to help drive performance. They have done an excellent job diagnosing the business situation, designing an approach that fits our culture, and delivering a first class solution.”

Sally Buchannan
VP Human Resources

I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.

Laurie Torres
Chief People Officer

Understanding and conforming to legal compliance was very important to our company. We turned to LSA Global to provide a quality and cost effective way to ensure that we were AB 1825 compliant. Their interactive eLearning program was top-notch. It allowed our managers to learn at their own pace, and on their own time. The program was tailored to include our logo and our internal harassment policies. It was interactive and met all federal and state legal requirements. I would highly recommend LSA Global to any company looking for an efficient and effective and top quality way to train their managers to be in compliance.

Kelly Warren, SPHR
Director, HR & Compliance

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

VNUS Medical has been very pleased with the effective management development programs that LSA Global has delivered for us over the last four years. The programs have been universally facilitated by experienced and best in class instructors. The knowledge gained by our management team has been put into practice very quickly. VNUS is very happy to be working in partnership with LSA because they consistently deliver excellent programs that receive exceptional feedback from our management team.

Cindee Van Vleck
Director Human Resources

What a personal and professional pleasure it has been to Partner with LSA. They are truly a strategic partner with Wyse. For more than 5 years, LSA has been engaged in delivering various training and development solutions for Wyse, from custom on-site programs targeting specific core competencies, to working individually with clients to build job skills, and offering invaluable services to me and my team as we continue to build our learning programs. LSA’s representatives do more than sell a product, they offer a full service solution: they understand our business, our strategic initiatives, and the needs of our customers.

Jeff Rangel
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.

Judith Onton
Vice President Human Resources

LSA exceeded all my expectations. We interviewed 7 potential training and consulting partners and selected LSA due to their expertise, flexibility, and breadth and depth of solutions. We were able to construct a management training course from the modules most appropriate to our needs, and are able to provide additional training from their well developed portfolio of experts. Our managers galvanized as a team throughout the session and are better prepared for the rigors of a competitive market.

Mitch Mandich
CEO

Edify

We engaged LSA to design and deliver a 6-month custom executive coaching program for a group of our key leaders. The focus of the program was to help a core group of senior leaders to leverage previous investments in management training, to ensure the engagement and retention of key employees, and to push critical strategic initiatives forward. Even with the high expectations of our senior people, LSA has completely exceeded our expectations. I would recommend them to anyone looking to create and implement a custom coaching methodology using proven tools to drive true change.

Ivan Fukumoto
Senior HR Manager - Staffing, Training, & Development

LSA’s customized Effective Presentation Skills program has helped me elevate my presentation skills to the next level. I now have a much greater self-awareness of my presentation skills and can leverage off of my strengths while working to improve upon other areas. I would definitely recommend this solution to anyone for whom business presentations are an integral part of their job.

Jim Elliott
Senior Marketing Manager

Samsung

SeaTel has found our partnership with LSA Global to be very valuable and beneficial. We turned to LSA to customize a supervisory/leadership solution to meet our needs. LSA delivered a customized top quality solution. I’d recommend LSA Global to any company looking for a best-in-class training and consulting partner.

Kortney Riddle
HR Manager

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.

Phyllis Moracco
HR Director

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

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.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More