3 ways to turn your strategy into success

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1. 3 ways to turn your strategy into success | Singapore Business Review Page 1 of 7 LATEST >> Chart of the Day: NODX up, thanks to Hong Kong SEARCH Home Sections Contact Us Events News People Features Tip-off Contributors COMMENTARY HR & EDUCATION | Contributed Content, Singapore Published: 20 Jul 12 19 views Recommend 0 0 Google + 0 New 3 ways to turn your strategy into success Over the last 10 years strategy implementation has become accepted as its own field by leaders in Singapore. They now recognize that designing a good strategy is not enough, it must also be executed. They have been spurred on by the fact that nine out of 10 implementations fail to be executed successfully and when they succeed, the payoff is tremendous. With most organizations failing to implement their strategy this means that companies like Singapore Airlines and DBS who are excellent in execution, benefit not only from their own successes but also their competitions incompetence. SIGN UP FOR NEWSLETTER Over the last 12 years we have interviewed thousands of leaders to understand the secrets of execution. Enter email Three essentials have emerged consistently from the one out of 10 successes. The first is that the leaders translate the intangible strategy into actions (the tangible). The second is they make it everyones responsibility and thirdly they constantly review their performance. COMMENTARY 1. Leaders translate the intangible strategy into actions (the tangible) HR & EDUCATION Singaporean qualifications Staff members attend the launch of the new strategy at the town hall meeting and then return to their desk dont mean a thing without thinking, that was exciting, now back to work. experience BY CHRIS REED Most strategy launches are exciting but fail to explain to the individuals what they need to do differently. 27784 views When people do not know why or how to implement the strategy they default back to what they do best running the business. LEISURE & ENTERTAINMENT Lessons from the Singapore Leaders during their strategic planning must clearly explain not only what the new strategy is and why the Girl BY JONAS WULFF MOLLER organization needs to change but also what they expect everyone to do different. 2795 views In 1999 Singapore Airlines launched Transforming Customer Service (TCS) to change staff members ECONOMY mindset towards customer service. Worries over Singapores wage gap intensify Staff members were inspired to feel that they can and will go the extra mile for their customers, to see BY YUEN CHUNG KWONG each customer as an individual and to anticipate and exceed their expectations in every counter. 1643 views The result grew loyal and valued customers (SQ Ambassadors) and they urged their friends to fly SIA. The MEDIA & MARKETING strategy was translated into actions through 30/30/40: No sex please, were Singaporeans 30% of time was spent introducing new products and services. BY PAUL GAGE 30% of time was spent on reviewing procedures and systems. 1435 views 40% of time was dedicated to people. RESIDENTIAL PROPERTY Each of the three initiatives clearly explained to individuals where and how they should spend their time to A slowdown in private home engage in the strategy. Individuals were also given training, coaching and support to ensure they sales succeeded. BY ONG KAH SENG 1344 views We want to be able to say to our customers - if we cant do it for you, then no other airline can. - Dr HR & EDUCATION Cheong Choong Kong, former DC of SIA Five rules every leader should know 2. Make strategy implementation everyones responsibility BY MARK CHEW 1230 views In the past we have realized that strategy is not the responsibility of one department, neither is quality, customer service nor the implementation of the strategy. Everyone is responsible for the future of the TELECOM & INTERNET organization. Leaders are responsible for designing the strategy and overseeing its implementation. Staff 5 reasons why you should be a members are responsible for taking the actions every day to make the strategy come alive. guest blogger BY SEE WEE HENG DBS is currently rolling out its new strategy, to be The Asian Bank of Choice in the New Asia under the 1118 views stewardship of Piyush Gupta, its CEO. HR & EDUCATION To ensure that everyone is engaged in the new strategy, the bank has made a concerted, structured effort Four-letter words that make to ensure that the entire organisation has strategic clarity and pulls together behind common goals. This people panic includes sharing the banks vision and priorities at staff townhalls, leadership sessions and management BY SURESH SHAH offsites. 1109 views In conjunction it has also launched hundreds of process redesign sessions that create the platform and HR & EDUCATION methodology for staff members to eliminate wasted customer hours. Singaporean qualifications: Think thrice before writing them off 3. Constantly review performance BY PANG MENG HOCK 1067 views If it is important you have to track it and strategy is not just important but your future. Most implementations are reviewed once or twice a year. This is not frequent enough to manage the implementation and also HR & EDUCATION sends the wrong message on the importance of the implementation. What scholar really means in Singapore Implementation actions need to be reviewed weekly and once a quarter the overall implementation must be BY YUEN CHUNG KWONG reviewed. 930 views In Singapore and around the regions, leaders are abysmal at reviewing implementation. It is paradoxical HR & EDUCATION that they spend so much time crafting a new strategy and so little making sure it is implemented. Rather You think experience counts? than an example I would like to end this article with: Singaporean qualifications, round two Implementation Rule: BY DAVID R. HARDOON 897 views 1X2 HR & EDUCATION How brandpact can help turn To take the strategy from the crafting into the business you must double your effort, time and commitment. SMEs into the next brand superstarhttp://sbr.com.sg/hr-education/commentary/3-ways-turn-your-strategy-success 23/7/2012 2. 3 ways to turn your strategy into success | Singapore Business Review Page 2 of 7 2X4 BY JOHNNY KOH 851 views To ensure you deliver on your strategy goals you must double again your effort, time and commitment making sure the right actions are being every day that deliver the right results. LEISURE & ENTERTAINMENT A must read if youre an expat threatened by kidnapping BY JON GOLDING Robin Speculand 786 views ECONOMY, HR & EDUCATION Robin Speculand is the founder and Chief Executive of Bridges Business Heres why enterprise is the key Consultancy Int. He is also an international bestselling author of Bricks to to international success Bridges. BY GYAN NAGPAL 782 views MEDIA & MARKETING Recent Posts Heres how irrational See all posts from Robin Speculand customers help your brand BY ROB MEYERSON See all posts on HR & Education 692 views See all Contributors TELECOM & INTERNET Contact Information Mobile media goes mainstream Website: View Twitter: Follow BY ANUJ KHANNA SOHUM & LinkedIn: View E-mail: Send a message HIMANSHU VERMA 655 views HR & EDUCATION Vision 2030: A golden opportunity for Singapores Singapore Business Review on Sign up for our newsletter brand Facebook BY DR. ANDR RICHELIEU Enter email 644 views Like 2,607 RESIDENTIAL PROPERTY Property investment guide: Getting the right properties for the right people Do you know more about this story? Contact us anonymously through this link. BY JAMES HARRISON 620 views Click here to learn about advertising, content sponsorship, events & rountables, custom media MEDIA & MARKETING solutions, whitepaper writing, sales leads or eDM opportunities with us. 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BY CHRIS MEAD 5 views MORE MAGAZINE SECTIONS Agribusiness Aviation Building & Engineering Co-Written / Partner Commercial Property Economy Energy & Offshore Financial Services Food & Beverage Healthcare Hotels & Tourism HR & Education Information Technology Leisure & Entertainmenthttp://sbr.com.sg/hr-education/commentary/3-ways-turn-your-strategy-success 23/7/2012 5. 3 ways to turn your strategy into success | Singapore Business Review Page 5 of 7 Manufacturing Markets & Investing Media & Marketing Professional Services Residential Property Retail Shipping & Marine Stocks Telecom & Internet Transport & Logistics Utilities SPOTLIGHT Silk Airs fleet expansion pays off with 26% surge in RPK New property fees seen to drive away foreign buyers Want to know how much salary raise you can get in Singapore? 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EDITORS PICK Singaporean qualifications dont mean a thing without experience 27784 views 6 signs your top talent is about to quit 12007 views This is how you fail an interview! 5947 views 8 types of bosses in the world 5163 views Sbr.com.sg website surpasses 60,000 monthly unique visitors 1418 views Singapore to suffer much more than peers from a disorderly Greek exit 885 viewshttp://sbr.com.sg/hr-education/commentary/3-ways-turn-your-strategy-success 23/7/2012 6. 3 ways to turn your strategy into success | Singapore Business Review Page 6 of 7 Recommendations The problem with Singapores high value added investment philosophy 41 people recommend this. A must read if youre an expat threatened by kidnapping 8 people recommend this. 4 in 10 companies to freeze hiring in 2013 39 people recommend this. 10 tips on how to destroy employee morale 245 people recommend this. Facebook social plugin PRINT EDITION HIGHLIGHTS Office Rents: Going up again? Singaporean rents now sit around 28 % below comparable Hong Kong office space. 8 views Hunger Games in the Heartlands Today, Sheng Siong controls 18% of the local grocery market. 12 views 20 years of SGs free trade agreements Edmund Sim 4 views How to throw the perfect pitch Richard Branson 25 views Asias hypersensitive inflation Economists explain why the regions headline inflation rates are particularly reactive to local food and energy price changes. 7 views Singapore employers wage war for talent Attracting new talent and retaining key staff have become harder than ever. Are employers ready for the challenge? Roxanne Uy reports. 13 views Singapore get set for activist shareholders as new corporate governance bites It isnt as problematic as was earlier assumed. 3 views Modern homebuyers: discerning or disconcerted? Changes in housing development rules seemed to have made buyers more discerning in their purchases. Or are they just too confused by overwhelming information to actually make a choice? 5 views How high can COE premiums go? Will it really rise to as much as $100K, a level last seen in 1994? 8 views The Euro burns as Asia fiddles Asian corporates have been on a debt-fuelled frenzy over the last few years with access to lots of cash at record-low interest rates. But that may behttp://sbr.com.sg/hr-education/commentary/3-ways-turn-your-strategy-success 23/7/2012 7. 3 ways to turn your strategy into success | Singapore Business Review Page 7 of 7 about to change. 10 views Copyright 2008 Charlton Media Group. NETWORK & PARTNER SITES Thailands monetary policy to China to receive more uranium Thailands monetary policy to Chadha appointed Barclays China still a gold mine for stay accommodative for its nuclear reactors stay accommodative director in wealth and foreign banks Vietnam allows fuel price hike Shell to drill for shale gas in Vietnam allows fuel price hike investment Mainland banks bet big on Two residential sites up for China Koreas GDP estimate forecast Asset Plus Fund provides Taiwan grabs at Dairy Farm Road, China to probe PV materials to show economic slowdown Thais with principal protection China in for short-lived Punggol Walk dumping by USA and South Rate cuts in the Philippines 2 of 5 Malaysian consumers economic recovery Singapore as an IP hub for Korea seen as premature investing via various channels J.P. Morgan Chase Bank to Asia To be or not to be China offers to build British Insurance faces positive Indias Sebi may hike expense open Suzhou branch Should you use social media nuclear reactors growth prospects ratio of MFs Indonesia sets foreign to background check job Indonesians and Chinese to ETFs help push up value of ownership cap in local banks applicants? build 200MW solar plant Japan mutual fundshttp://sbr.com.sg/hr-education/commentary/3-ways-turn-your-strategy-success 23/7/2012