Leadership in Action

By Dr. Jimmie Gray

Strategy execution is the process of carrying out the actions outlined in a strategic plan to achieve the objectives of a business. It comprises the daily structures, operational goals and procedures that put teams in the best positions to succeed.

An organization will not be able to achieve its strategic goals if there is a disconnect between strategic planning and the execution of the plans. Therefore, the process of defining a strategy, putting that strategy into action and establishing strategic goals calls for a unique set of abilities and provides a unique set of challenges. Before deciding on strategic goals and composing a plan, you should think about ways to improve your execution abilities.

The following are keys to successfully executing a strategy, any of which can be implemented in your organization.

Commit to a strategic plan. Before diving into execution, it’s important to ensure that all decision-makers and stakeholders agree on the strategic plan. Committing to a strategic plan before implementation ensures all decision-makers and their teams are aligned on goals. This creates a shared understanding of the larger strategic plan throughout the organization. Strategies aren’t stagnant—they should evolve with new challenges and opportunities. Effective communication ensures everyone starts on the same page and stays aligned.

Align roles to strategy. One of the common challenges of strategy execution is underdeveloped task delegation and responsibility assignment plans for employees. This can happen if the personnel are hired before the strategy is developed, or if positions are established to correspond with an outdated approach. With the correct parameters in place, you can design a job in which a talented individual can successfully execute your firm’s plan. Employees who comprehend the strategy will support the organization’s direction and make every effort to steer their team in the proper direction.

Communicate clearly to empower employees. When it comes to successfully executing a strategy, the importance of transparent communication cannot be ignored. Because the execution of the strategy depends on the day-to-day activities and choices made by every member of the organization, it is essential to ensure that everyone is aware of the comprehensive strategic goals of the company and how their individual responsibilities make it possible to accomplish these goals. Organizations should train their managers to effectively communicate the effects of their teams’ daily work, address the organization in an all-staff meeting, and promote a culture that recognizes accomplishments along the path to achieving significant strategic goals.

Measure and monitor performance. Implementing a strategy requires ongoing evaluations of goal progression. To do this, key performance indicators (KPIs) should be chosen in the strategic planning phase, and success should be quantified for the sake of measurement. With a numerical target, you and your team may track and analyze performance over time and determine whether adjustments are necessary based on the results.

Balance innovation and control. Although innovation is one of the most important factors contributing to the expansion of a company, you must ensure that it does not impede the execution of your strategy. An innovative organization should develop a process to assess obstacles, constraints and opportunities. However, a stagnant organization has no room for progress and should encourage employees to come up with ideas, try new things and take measured risks while keeping the strategic plan in mind. When a strategy is well executed while keeping these key elements in mind, the system will almost certainly result in high demand, creating a solution expansion.

You know exactly where you want to take your business and how to get there. You also have a vision that includes development, achievement and the effect you want it to have on your team members, clients and community. However, with growth will come turmoil and fires. This might leave you feeling stressed out about a “people problem” that seems to be taking you away from concentrating on what counts. Below, I describe key elements of strategy execution for consideration when growing the business.

Communication. You need a clear, concise and convincing case for change that all levels can understand and therefore comprehend what the strategy is and why it is being used. People have a right to know the highest priorities and how they factor into the bigger picture. Maintaining an ongoing comprehensive communications campaign is critical to keep people apprised of developments and solicit their input. A gradual process is required for change to be accepted across all levels of the company.

Progress review. Executives and mid-level managers routinely conduct progress reviews to determine effectiveness. The accuracy and efficiency of the information flow from progress data and reports likely fail to identify corrective actions. A structured progress review procedure helps significantly reduce rework, work lapses, and hazards that cause deliverables to be delayed. Everyone in the organization receives a clear message when the executive team is involved. This is one of the finest ways to hold people accountable for plan execution.

Alignment. There is no such thing as a one-time event when it comes to the alignment of thought, work efforts, and accep­tance down and across the silos of the business. Establishing and upholding alignment are necessary tasks. Eliminating competing functional objectives, priorities, and performance indicators is critical to coordinating cross-functional efforts on the appropriate work. Therefore, leaders should always pay attention to avoid missing a disconnection.

Culture. An organization’s culture is distinctive, having its own strengths and weaknesses. A culture is a collection of people’s beliefs and values that influence their behavior. Although it takes time for a company to change to an intentional culture, the specific behaviors required for success can be identified. Employees must be aware of the particular characteristics and actions that serve as the benchmark for evaluation so that they may continuously collaborate with their supervisors to enhance performance.

Time management. It is vital to strike a time balance between daily business operations and improving the business (the execution of the strategy). As part of planning and scheduling people’s time for various initiatives and action plans, time must be devoted to the operation and improvement of the business. The entire strategy implementation process might be disrupted by an excessive workload or missed deadline. Overloads should be brought to the attention of strategy execution management, and any missed deadlines should be reported.

Accountability. All decisions taken at an organization should be supported by well-defined goals and an evaluated strategic plan. Each stakeholder should be able to articulate how they contribute to the organization’s overall success in meeting its strategic goals. If they cannot, they must be directing their attention elsewhere. Using the appropriate KPIs (key performance indicators) enables discussions and actions to be based on facts.

Management of strategy execution. Without a well-functioning closed-loop strategy execution management process, it is very easy for disconnects to occur. Effective progress assessments keep projects and action plans on track and provide visibility into pertinent and reliable information.

Resource wastage. Eliminating the use of resources on projects and initiatives that do not contribute to the strategy execution should be a top priority. Effective resource reallocation eliminates waste by concentrating on aligning and pursuing strategic priorities.

The process of strategically executing a plan requires communication platforms that grant all stakeholders access to the current state of strategy implementation. Many businesses only meet to discuss strategy once every three months, which doesn’t leave enough work on the company time.

Although it is vital to provide quarterly reports on the status of the implementation of a plan, the primary purpose of these meetings should be to make choices regarding the company’s strategy and reach a consensus regarding any changes in direction. The process of putting the strategic plan into action needs to be robust enough to maintain everyone’s attention on the task at hand and to routinely include everyone’s role in attaining business objectives.