Strategic planning is difficult to do (and we seldom see it done well).
But executing strategy is even more difficult. Here are some of the
challenges managers must overcome – inspired by an article in the Ivey Business Journal.
Strategic planning and
execution are interdependent.
Execution follows strategy. You cannot implement a strategic plan until
that plan exists. But they are both part of a continuing cycle of:
strategic planning – executing – reviewing performance - updating strategy -
executing etc. For best results, update your strategic plan every 90
days. Involve people from different functions and levels in the planning
process to ensure decisions are well thought through and to enhance
company-wide buy in. Those who plan the fight - don’t fight the plan.
Managing change is
difficult.
Execution often involves change - in structure, people, accountabilities,
processes, measures, and incentives. Change can be threatening and cause
discomfort to team members. Managing change is difficult, but successful
execution depends on it. Overcoming resistance requires a disciplined
focus on strategic priorities, measurement of key performance indicators, and a
commitment to hold people accountable for execution progress – every week.
Execution is a juggling
act.
The enemy of execution is “business as usual”. Driving the execution of
strategic priorities whilst maintaining day to day operational activities can
be challenging task. In addition to “doing their job” and keeping the
business running, get everyone to commit to 1 weekly action that is moving
their area of the business forward in the direction of the strategic
priorities. Do this as part of your weekly meetings and review execution
the following week.
Execution takes time.
Use dashboard software to monitor execution progress and feed this information
back to the team on a weekly basis. Keep people focused on actions that
are “important” for the long term – rather than letting them getting sucked
back into the “urgent” demands of “business as usual”.
Execution is the major
job of the business leader.
Some managers think execution is below them. They do the “thinking work”
(strategic planning), and then pass the “doing work” (execution) to
lower-levels. If things go wrong, they blame the “doers,” who somehow
couldn’t implement their plan. This view is wrong. Everyone must
commit to and own the strategic action priorities. The individual actions vary,
but everyone must play their part to drive execution.
Stephen Lynch
Chief Operating Officer - Global Operations
RESULTS.com
