strategy execution cycle
TRANSCRIPT
Strategy Execution Cycle
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Strategy execution is a cycle, but leaders often skip key stepsand jump to action.
Understand
TranslateAdapt
ImplementMeasure
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Effective execution starts with understanding the strategy both externally and internally…
Understand
Understand
TranslateAdapt
ImplementMeasure
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» What is the strategy of the corporation (vertical strategy)?
» What are the strategies of your functional and geographic peers (extended strategy)?
» What do customers want? What are competitors doing?
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Understand
TranslateAdapt
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Translate
The next step is to translate strategy into specific plans aligned across the organization.
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Translate
Understand
TranslateAdapt
ImplementMeasure
» Develop aligned local goals and activities
» Focus activities on highest priorities
» Align and refine with extended stakeholders
» Define success metrics
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NOW you areready to implement and move to action
Implement
Understand
TranslateAdapt
ImplementMeasure
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Implement
» Build capabilities needed for execution (platforms, process, people)
» Deliver against priorities» Engage stakeholders
needed to deliver results
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TranslateAdapt
ImplementMeasure
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Measure
What follows action is critical: measure and make information visible to all.
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Measure
» Monitor progress towards metrics
» Share information broadly
» Create cycle of accountability
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TranslateAdapt
ImplementMeasure
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Adapt
Then be intentional: learn and adapt your plans and actions based on experience
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Adapt
» Anticipate changing priorities, emerging customer needs and shifting markets
» Correct and adjust plans and activities
» Engage extended stakeholders to understand what’s changing
Understand
TranslateAdapt
ImplementMeasure
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Making and explaining tough decisions is at the core of execution.
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Decision Making
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» Make thoughtful decisions
» Weigh tradeoffs» Own the cycle
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Decision Making
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And constant communication is the glue through the cycle.
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Communicate
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» Be clear, consistent, engaging and specific in your communication
» Let your passion show
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Communicate
» Only 9% of managers say they can rely on colleagues and other functions all of the time (horizontal) [good news: 84% of managers say they can rely on their boss and direct reports for execution (vertical)]
» Only 11% of leaders think their companies’ strategic priorities have the resources for success
» Over 30% of managers believe their senior leaders are not aligned
» Only 20% feel their organizations shift people across units to support strategy
Source: Harvard Business Review, March 2015
A recent survey in Harvard Business Review includes disturbing data
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» Understand and anticipate market needs» Understand strategy– vertical and horizontal
» Build capabilities needed for execution (platforms, process, people)
» Deliver against priorities» Engage stakeholders needed to deliver results
» Monitor progress towards metrics» Create cycle of accountability
» Anticipate market and organizational changes» Adjust plans as strategic priorities shift or
market needs change
» Translate strategy into aligned local goals and activities
» Focus activities on highest priorities» Align and refine with extended stakeholders» Define success metrics
Strategy Execution is a process…don’t focus on just one step.
Understand
TranslateAdapt
ImplementMeasure
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Decision Making
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