Initiatestrategyimplementation

There are very few people who can understand and merge the thought process required in strategy design and strategy implementation.

A good strategy helps the organization get a step closer to its vision, maintaining its core purpose, gaining a competitive advantage in the market to ensure all key/strategic stakeholders' expectations are balanced and met and improving long-term sustainability of the business. 

In specific, the strategy has to set out how the goal will be delivered: what levers need to be pulled internally and externally and what the impact will be on a whole raft of stakeholders such as customers, staff, suppliers, shareholders, etc?

Benefit of the strategy: Strategy is a detailed plot to build business competency and win over fierce competition, improve business value proposition and long term advantage. There are different processes in strategy making, and logical processes to implement a strategy. Gathering information, such as market insights, customer insights, and competitive intelligence is a scientific method to build a good strategy. Strategy and execution are not linear steps nowadays, but an iterative, continuous cycle of organizational adaptation to a changing world.

Timing is everything, the changing market conditions drive the need to ensure that corporate strategic initiatives are aligned and realigned with operational tasks to produce expected results consistently. You need to emphasize that it is insufficient to simply communicate an initiative’s promised benefits, because these benefits must be delivered. So it’s important to be as conservative as possible in identifying and monetizing benefits flows as too-ambitious benefits flows are easily countered.

Prediction of strategy management: Business ecosystem environment is complex and dynamic, some trends are more significant than others in their impact on business growth. Successful organizations see changes coming and do pre-planning to overcome the resistance before it even manifests, and show support of overall organizational growth. Foresight is critical to navigating the organization into the uncharted water or blurred digital territories. The goal of the business forecast is to predict what will happen and take a proactive approach to achieve strategic goals step-wisely. 

Forethoughtful business leaders take advantage of business analysis tools, analyze historical patterns from lessons learned, gain customer insight of what they need, envision the trends of their vertical industry and predict the upcoming change with a certain degree of precision. The optimal prediction system should have the best results in different areas according to the specific or customized quality criteria.

Provide visibility and insight into the costs/resources/processes associated with strategic execution: When people speak about business initiatives generating new revenue, visibility of costs, resources measured against the visibility of quantifiable benefits is a way to show how effectively the strategy implantation is to produce business results. For all critical business investments, it’s important to generate business cases and look for investments to be justified and governed on the basis of benefit delivery, return on investment and contribution to innovation. The focal point is to calculate which business initiatives provide the greatest return, and which would be invested in the future.

Processes are the critical business element to implement capability based business strategy. The elements of strategy can be used to guide and evaluate development of business processes. In that way, you get independent checks and balances for the overall business solution you are trying to develop. It’s always important to find creative sources of competitive advantages, to better compete in a global marketplace with optimized process and cost management, setting the right metrics for doing cost/benefits analysis is important to improve organizational effectiveness and efficiency.

There are very few people who can understand and merge the thought process required in strategy design and strategy implementation. Strategic business leaders keep the end in mind, never lose a big picture, bridge silos by fostering cross functional communication, enforce accountability at different level of organizational hierarchy, strike the right balance of short term, intermediate, and long term perspectives, assess and fine-tune key success factors of strategy execution, allow the organization to measure, serve, deliver, innovate, and ultimately excel in returns structurally.

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