Wednesday, October 26, 2016

The Monthly “Digital Compass Oversight: Strategy Execution Effectiveness Oct. 2016

Digital is the age of creativity and innovation, and creativity is all about connecting the dots.

A digital strategy is cross-functional effort, multidisciplinary, multidimensional planning; it brings up new functions, roles, collaboration, demand for intuition and emergence, complementarities, philosophy, neutron sciences, and trans-disciplinary businesses. And digital strategy execution is not linear steps, but an iterative continuum.

Strategy Execution Effectiveness
How to Improve the Success Rate of Strategy Execution: If strategy making is more important, perhaps strategy execution is more difficult. If the strategy is deciding what to do, then execution is all about making it happen via engaged, competent and committed managers and employees. A recent executive survey indicated that execution excellence was the number one challenge facing corporate leaders globally, but more than two third of organizations struggle to implement their strategy smoothly. Hence, organizations need to address this aggressively to really start cranking up their execution abilities. And what are important factors in executing strategy more successfully??
Five Key Factors in Strategy Execution? Strategy execution is difficult. A recent executive survey indicated that execution excellence was the number one challenge facing corporate leaders globally. Statistically, about two-thirds to three-quarters of large organizations struggle to implement their strategies. Why does strategy execution unravel, and what are the key factors to lead the effectiveness of strategy execution.
Business Strategy Execution Challenges  Many companies spend a significant portion of time for formulating rock solid strategies, focuses on business strategy development and puts a lot of efforts to develop a great strategy with strategic initiatives. On the other hand, strategy execution does not get the same attention which leads to misalignment with business objectives and not achieving the expected results. But more specifically, what are the business strategy execution challenges.
Why Achieving Execution Excellence is so Hard? Compare to ‘Strategy Hype’-the variety of theories or best practices, books or white papers brainstorming about strategy, execution seems to be the much ‘cooler’ space, do you know why Strategy Execution is a discipline which has not been extensively developed, despite being so crucial?.
Strategy Execution: How Difficult Could it Be : Nowadays, with increasing speed of change and fierce competition, business strategy execution is no longer linear steps, but a dynamic continuum. If strategy formulation is more important for leading business toward the right direction, then strategy execution is perhaps more difficult due to the business complexity, uncertainty, time/resource consuming, etc. The strategic themes are essentially the pillars of the organization. They include business growth, operational excellence, customer experience excellence, product development, innovation, and sustainability. Strategic perspectives include financial aspect, customers and stakeholders' aspect, internal processes, organizational capability and engaged leadership. Strategy execution: How difficult could it be?
The “Future of CIO” Blog has reached 1.5 million page views with about #3200th blog posting in 59+ different categories of leadership, management, strategy, digitalization, change/talent, etc. The content richness is not for its own sake, but to convey the vision and share the wisdom. Blogging is not about writing, but about thinking and innovating the new ideas; it’s not just about WHAT to say, but about WHY to say, and HOW to say it. It reflects the color and shade of your thought patterns, and it indicates the peaks and curves of your thinking waves. Unlike pure entertainment, quality and professional content takes time for digesting, contemplation and engaging, and therefore, it takes time to attract the "hungry minds" and the "deep souls." It’s the journey to amplify diverse voices and deepen digital footprints, and it's the way to harness your innovative spirit.


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