Strategy is executed over time by managers in every level of a company as they commit resources, programs, people, and facilities to the business strategy. So business leaders concerned with strategy execution need to know who controls which resources and who has the most influence on strategy execution.
Who Actually Makes the Key Decisions
To effectively drive business strategy execution, company leaders need to know the company inside and out and discover who actually makes the key decisions. Leaders may not be aware that they’re allocating resources in a way that doesn’t align with business strategy execution.
You need to pinpoint and then influence those managers whose decisions drive or inhibit business strategy execution. This way you can ensure your managers are allocating resources in a way that aligns with the organization’s strategy.
Business strategy execution is the critical business issue and central to the executive role. While strategy execution is difficult, it shouldn’t be viewed as unmanageable.
What Drives Strategy Execution
But what drives strategy execution? As execution is embedded in the fabric of business, numerous factors are at work.
high performance — Companies that tend to have high performance in revenue growth, profitability, and customer satisfaction often have existing skills that enable strategy execution. Also, companies that have high performance results are often better at clearly communicating goals, strategy, and focus, which drives strategy execution.
create and communicate — If a company can attain clarity when communicating business strategy, it’ll be better able to execute the strategy. But companies must be aware of the difference between understanding the value of a clear strategy and delivering clear communication on how strategy must be executed.
alignment — Ensuring your strategy is aligned with company vision and goals helps to drive execution. A business strategy that supports the mission of an organization, as well as unit goals, will garner more employee support and will be easier to clarify when communicating execution steps.
speed and ability — Like clear communication, companies value the ability to make quick decisions and act when an opportunity arises, but it’s a difficult practice to master. Companies must be able to adapt to rapid changes in order to be effective at strategy execution.
engagement and capability — Successful strategy execution requires all employees, at all levels in a company, to be engaged and capable. Employees must feel included, interested, and actively participate in strategy execution. As well, they must have the skills necessary to do what’s asked of them.
execution-focused leadership — Companies can use succession planning to groom leaders with strategy execution skills. This ties in with the idea that high-performing companies effectively drive strategy execution.
customer demand — The demands of customers are consistently driving business strategy execution, especially as technology is growing and changing at such a fast rate.
resource allocation — How company resources are allocated is another driver, and sometimes barrier, to business strategy execution.
Read more on Medium.com