Strategy Execution is the process of implementing the key business decisions that were taken during Strategy Formulation. Whilst many leaders take strategic implementation as a given, it has actually been found that 90% of strategies fail due to poor execution (Robert Kaplan, Harvard Business Review 2012).
Our experience has shown that this is primarily due to a leadership failure in not creating the right execution infrastructure. That is, not creating an effective and realistic strategic roadmap, not selecting and developing the right people to execute it, and not engaging the whole workforce in delivering on the strategic goals.
We have found that strategic execution has two fundamental components, that both require a different approach;
(1) The building of specific organisational capabilities or assets. For example the build of a new production facility or line, the launch of a new product, or a transformation of the IT infrastructure for order handling
(2) The transformation of organisational behaviours to align them to the new strategy. For example Salespeople up-selling existing customers with after sales service packages, or production staff striving every day to reduce work-in-progress.
The first component of execution requires effective project and programme management. Pico can help you to design a logical architecture of projects and programmes that reflect the priorities set out in Strategy Formulation. We will ensure that you have carefully considered the leadership of those projects and programmes, as well as your capacity to deliver on them. We will work with your project leaders to create a clearly defined set of objectives, scope, timelines and budgets for each project, and then reflect those in an overall strategic roadmap. In doing so, your organisation will develop true Organisational Project Management Capability.
The second component requires an effective strategic communication plan, alongside a powerful process for creating high performance teams that can execute on your critical goals. We call this the 4-Step Goal Achievement Process (4-Step GAP). It has been developed to engage your teams to drive daily and weekly behaviours that will help them to deliver on their critical goals. This process can provide your teams with the clarity, motivation and accountability to be successful.
By engaging with Pico in Strategy Execution, we can help your organisation to create a powerful roadmap for strategy implementation. We will help you to consider both the major projects and programmes that build specific organisational capabilities, as well as the strategic communication and engagement process that can align the behaviours of everyone in the organisation towards your strategic goals. With 90% of strategies failing due to poor execution, is this a capability you can leave to chance?
Want to speak to us about Strategy Execution? Why not contact us to find out more.