Avoid Failure, Dedicate Resources for Developing Your Strategy

Avoid Failure, Dedicate Resources for Developing Your Strategy

To continue the discussion about the elements critical to successful strategy development and execution, I’m next turning to the one that I believe is most often overlooked—dedicated resources.

All of the other elements that I have already discussed in previous blogs—leadershipmaking the case for changeaccountability, and sharing a vision—are absolutely critical to effective strategy execution.  In my experience, however, they are worthless unless the organization sets aside dedicated resources to implement the strategy initiative.

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Share Your Vision to Motivate Strategy Execution

Share Your Vision to Motivate Strategy Execution

Picking up on my discussion from August, I wanted to add to my list of critical factors required to ensure successful strategy execution.  I’ve already talked about the importance of leadership, making the case for change, and accountability.  I want to add “establishing a vision that everyone works toward” to the list.

This vision needs to be set by leadership.  After all, that is a big part of what leadership is all about, right?  And, we always hear talk in the press about so and so’s “visionary leadership.”  

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Accountability Is Critical to Successful Execution

Accountability Is Critical to Successful Execution

In the past week, I’ve already discussed what I believe to be two of the most important factors in ensuring successful strategy execution—having an active leadership champion and making the case for change.  In this blog, I want to discuss a third critical success factor—accountability.

While I don’t think it is earth shattering to say that making sure the people who are leading and implementing your strategy execution project are held accountable for it, in my experience, it is definitely worth emphasizing this point.  

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To Achieve Results, You Have to Make Your Case for Change

To Achieve Results, You Have to Make Your Case for Change

Executing a new strategy is a big change for an organization and, by the way, change is hard.  So successful execution is really hard.  Therefore, to get one step closer to successful strategy execution, it is essential that your organization’s leadership set out the case for change that everyone understands and can rally around.

A good way to start making this case for change is to define your organization’s “as is” state and the “to be” state your strategy is designed to move you toward.  A rather simple way to do this is to think of the top five to seven areas of key importance for your organization, where you are in each of them and where you need to be to succeed.  

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Leadership is the Greatest Key to Strategy Execution Success

Leadership is the Greatest Key to Strategy Execution Success

“However beautiful the strategy, you should occasionally look at the results,” Winston Churchill famously said.  And, you don’t get results without execution.  So, how do you ensure successful execution?  With leadership.

Your organization’s endeavor to execute its strategy will have a very slim chance of succeeding without a high-level leader to champion the process.  In this, the first of my six-part blog series on keys to successful strategy execution, I will discuss the keys to having a leadership champion who will enable your organization to achieve strategy execution success.

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