If you want to be really effective at setting and executing strategy –
it is time to implement a disciplined execution methodology into your
business. Yes - that scary word “discipline”. For many entrepreneurs
that word can sound restricting. Actually it is the opposite.
Discipline sets you free.
Reality check: research from the Harvard business school shows that 90%
of strategies fail due to poor execution. Execution is the greatest
challenge for most business leaders.
However, when you implement certain disciplines into your business you will
greatly enhance your company’s ability to effectively set and execute
your strategy. Now - and in the future.
RESULTS.com categorizes these key disciplines into 5 Key Pillars of Execution:
1. Vision
2. Strategy
3. Engagement
4. Accountability
5. Cadence
Over the next few weeks we will overview each of these 5 pillars in more detail.
Vision.
There are 3 elements that make up your vision: What? Who? Why?
What: The Goal
Before you can set and execute a strategy, you need a goal. What do you
want to achieve? It needs to be a meaningful and compelling goal
(sometimes called a BHAG© - or a
Big Hairy Audacious Goal). The goal does not necessarily mean your
company needs to be as big as possible - it is however you define
“greatness” for you. But the key point is this; in order to achieve
your BHAG©, it needs to inspire and engage ALL of your people - not just the management team.
Who: Core Values
Core values are the rules for "right" and "wrong" behavior in your firm.
The standards of behavior you want demonstrated by ALL your people -
present and future. Many companies use vague, generic, aspirational
words and statements that do not effectively drive behavior (e.g.
honesty / integrity / safety / teamwork / customer service). Generic
words like this don’t create a culture. "Real" Core Values are the
specific, meaningful behaviors that make your company unique - a clear
statement of “how we do things around here” – and a clear indication of
what the culture is like at your company.
Why: Core Purpose
Why does your company exist? What is the difference you want to make in
the lives of the people you touch? People are more motivated and
engaged when they have a clear purpose to align to - one that gives real
meaning to their work. One that gives them a reason to get out of bed
in the morning, beyond simply earning a living. Does your company
have a clear and compelling Core Purpose that reminds your people of how
meaningful their jobs can be to themselves and others?
Stephen Lynch
Chief Operating Officer - Global Operations
RESULTS.com