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.

I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.

Duane Schroeder
Human Resource Manager

I have worked with other training companies and found it to be more of a seller/buyer relationship than one of matching the right expertise to our business issues. That’s what LSA does – ask the hard questions, listen, and understand our business needs. We receive the benefit of their expertise from assistance with personal development plans to enhancing team performance, to looking at enterprise-wide challenges. It’s all about helping our business succeed as we grow. Right now, LSA is providing great ideas, a fresh approach, and valuable guidance as we develop our management team and accelerate our client relationship management results.

Kristin Westland-Kaune
Director, Team Development

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.

Stacie Rodgers
VP of Human Resources

Cutera

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

The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.

Robert Breckner
Firmware Engineering Manager

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.

Frank J. Kuypers
Business Development Manager

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!

Bob Ward
Director of HR

LSA is an instrumental training outsourcing partner in helping us to build management capacity and strategically invest in our people. Their flexibility, depth, and breadth of expertise allows us to deliver top quality solutions that are directly tied to key business plans. Their ability to custom design, deliver, and evaluate our Management Curriculum has been excellent. They are true business partners and a pleasure to work with.

Margaret M. Mader
Vice President, Human Resources

Hyperion

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!”

David Fiano
Vice President Human Resources

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 value our relationship with LSA Global. We came to LSA because we wanted to improve overall behavioral based interviewing capabilities of our managers to increase the probability of both hiring top talent and future leaders. LSA designed a highly customized solution for our business and culture. We are currently rolling out this solution to our leaders. I would highly recommend LSA Global as a top quality resource.

Rae Phillips
HR Project Manager - Training & Development, PHR

The Managing Virtual Teams program was extremely valuable. Your consultant/ facilitator’s fundamental knowledge of Synopsys as a company provided an incredible base to build upon while tackling the complications of managing and working with globally distributed teams. My team walked away walked away with highly useful practices and tools. It was an excellent use of our time.

Debra Martucci
Vice President, Information Technology

Harmonic has worked with LSA for over 8 years. We have found their partnership extremely beneficial. We recently implemented a Management Development Program that was designed and customized to support our company’s strategic initiative of hiring, building, and retaining key intellectual property and human talent. We worked closely with LSA to target and implement the right solutions with the greatest impact. I would recommend LSA to any company that’s looking for a trusted training and development partner.

Janice Passarello
Director of Human Resources

We consider LSA our true business partner in the areas of Learning and Organizational Development. From Strategic Planning to Presentation Skills and Management Training, they continue to provide excellent value and extremely high quality solutions – not just one time events. I recommend them to anyone looking to drive true business results.

Michelle A. Mitchell
Vice President, Worldwide Human Resources

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