Thursday, August 13, 2020

Orchestrate a Tight Strategy Implementation Framework

A tight strategy management framework helps the business take a structural approach with all important business elements to intersect and interact with its digital ecosystem, facilitate a healthy strategy management cycle.

With the fast-paced change and fierce competition, businesses today need to move beyond the notion of a jungle of threats to a notion of the dynamic ecosystem in which they can manage both opportunities and threats effectively. 

Digital strategy management is both a system and a process to deal with dynamic and iterative planning and execution continuum. The forward-thinking organization should define a tight strategy implementation framework that enables exploration, adaptation, and timely response. It will also facilitate continual strategic renewal through learning, and, therein, create inherent abilities to respond to evolutionary as well as revolutionary changes and opportunities in the business ecosystem effortlessly.

Get the best breed from all levels of colleagues across the company assigned to strategy execution: Running a modern business is not just about crunching numbers. The strategy when executed has a breath, and it can breathe life into people and the culture. A framework for strategy execution helps business management communicate clearly and engage with stakeholders empathetically, actively interact at all levels to inspire and motivate people to achieve more, adapt, adjust, and develop the strategy with clarity, to meet company growth goals, handle successes and failures adequately; otherwise, the strategy will not be aligned with the broader aspects of the company and decrease the chance to succeed in the long term.

The other challenge in executing the strategy stems from a lack of understanding or ownership of the strategic principles. Driven by business mobility, digital technologies, and cultural progress, the workforce today is divergent in many ways, with the characteristics of multi-generation, multi-culture, and multi-devicing, sharing a natural affinity for new perspectives. It’s the work of the business management to set good policies, help people navigate through difficult changes and achieve their goals, strengthen their strength and expand their knowledge, put the right people in the right position, and deliberately make close alignment among the company’s strategic direction.

Investigate innovative approaches to implement the strategy and unlock business performance: Strategy execution today is iterative planning - execution - adjustment, "easy to share, and concise to follow" continuum. Forward-thinking organizations cannot think in terms of single-thread serial actions alone nor can they give undue priority to areas that are covered by the tactical implementation of the strategy only. A framework approach with flexibility in the implementation plan helps to encourage innovation and make timely adjustments to constantly changing circumstances.

Often, what is missing is the internal capacity to understand the strategy to the extent that executive teams can participate actively in strategy development and honestly drive implementation via a framework approach. the choice is the basis for strategic positioning - not only deciding what you are going to do but also what you definitely are not going to do. Investigate innovative approaches to implement strategy, create three business proposals of options and opportunities, engage employees, motivate people to solve problems in alternative ways, make sure there’s a steady flow of ideas flow in the pipeline, improve risk intelligence, and execute strategy in a structural way.

Keep an eye on standard, scale, and form “institutionalization methods”: A tight strategy implementation framework provides a basic building block for developing “institutionalization methodologies” to improve the success rate of strategy management. It’s about defining abstract components and hence establishing the way to strategy management, discovering patterns, abstracting concerns, understanding universal principles, developing the best and next practices to scale, and execute capability-based strategy smoothly.

Strategy execution plans are living documents that require ongoing monitoring and adjustments when needed to address unforeseen changes in the marketplace. A tight strategy implementation framework describes the best practice of how things should be done from the process and documentation side, forms the “Institutionalization method” and applies disciplines to better align execution management with dynamic strategy, it’s not the gospel of business and it needs to continue to update.

A tight strategy management framework helps the business take a structural approach with all important business elements such as principles, processes, methods, rules, roles, etc, to intersect and interact with its digital ecosystem, facilitate a systematic strategic planning process and a healthy management cycle to benchmark business operations, as well as improve the overall business management maturity seamlessly.


Post a Comment