Strategic Planning is Different Than Strategy Execution
Most strategy execution tips for leaders are hard-earned and learned through trail and error.
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 road map to success. There are many rationales why even well-conceived strategies do not deliver the desired results:
Basically, when strategy execution fails, there is a failure to carry out the strategic plans and follow through consistently across the organization.
The Success of Your Strategy Depends On Your Ability to Execute It
Here are four corporate strategy execution tips for leaders to get and stay on course:
1. Include Enough Strategic Detail
Your strategy should be simply stated and clear but, just as with any workable project plan, there should be enough actionable detail behind your strategic plan to guide teams forward. Ensure that everyone understands the purpose, the plan and their part in the plan.
2. Establish Aligned Success Metrics To Keep On Track
When strategies change, the way success is measured and rewarded must also change. Identify leading and lagging metrics that predict and measure success that are within your control that relate directly to strategic success.
3. Keep At It And Assess Strategic Progress Frequently
Just like a New Year’s Resolution that lasts only through February, the temptation after a strategy retreat is to go back to the “way things have always been done.” Keep 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 sharing progress and making adjustments as necessary.
4. There Should Be Clear Lines of Communication
Active involvement and communication between all levels of the organization is critical to change behavior and performance. Especially for employees who are charged with actually carrying out the strategy. Dialogue between employees, managers and executives should be often and open to encourage strategic commitment and accountability.
The Bottom Line
Strategy execution tips for leaders can make or break your growth plans. Include enough actionable specifics, align success metrics, monitor progress and actively include all key stakeholders.
To learn more about strategy execution tips for leaders, download 3 Guidelines to Help You Decide if You Should Facilitate Your Next Strategy Retreat
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