In many cases, often the strategy that is eventually realized, differs from the original plan.
Strategy is just paper work unless it is executed well. The greatest strategy will fail to achieve expected results without all dependencies and influences placed in the melting pot, risk-management of the greatest strategy will be a costly activity.
No doubt that the success of strategy management lies in “timely execution”: Strategy and execution are two completely different things and skill sets, but they are interlinked. If a strategy can be thought of as a bunch of hypotheses about how the business executes to produce the desired results, then, execution is the testing of those hypotheses in the real world as it attempts to implement the strategies.
No doubt that the success of strategy management lies in “timely execution”: Strategy and execution are two completely different things and skill sets, but they are interlinked. If a strategy can be thought of as a bunch of hypotheses about how the business executes to produce the desired results, then, execution is the testing of those hypotheses in the real world as it attempts to implement the strategies.
The organizational strategy defines the operational box that the company works within. In today's digital dynamic, the evidence points to strategy emerging rather than being prescribed. It’s important to define, communicate, socialize and fully understand business goals at an enterprise-level. Otherwise, miscommunication enlarges gaps and creates bottlenecks in strategy execution. Nor can a strategy be effective if organization and management structures and practices are not flexed to implement a strategy.
Bridge the gap between strategy and execution: You need a purposeful and rigorous method for translation of strategy into a realizable architecture before implementation; build links to business strategy alignment, scenario planning, business initiative program cycles, requirements/resource/risks management, project controls (progress, finance, quality, and change), comprehensive dashboard reporting and value tracking.
Organizations have limited resources and talent, business management needs to make an objective assessment of their resource availability and allocation. Organizational management can take the form of business models, prioritization mechanisms, roadmaps, experience principles, strategy diagrams, change management models, journey/experience maps, service blueprints, storyboards, etc, identify and strengthen the weakest link, monitor performance for delivering higher than expected results continually.
Organizational strategy management & governance mutually reinforce each other: Does the mental model of executive leadership consider the creation of a strategy to be part of corporate governance? Too many strategies that are developed by a small executive group fail when they are 'rolled out' to an unengaged senior management team. Effective governance mechanism is a critical leverage point for the business to facilitate the successful functioning of an organization while ensuring there are adequate controls in place to operate responsibly in accordance with its business values and strategic goals.
Governance is less about control, more about delegation, accountability, optimization. Corporate governance has a direct link to strategy management and its processes. By enforcing governance practices, the management takes “finger-out” to engage in; enables cross-functional dot-connecting for innovation, and develops an agile mindset and governance practices to lead capability-based strategy implementation; Not only for achieving the financial results, but also creating multifaceted value based on clearly defined corporate guidance, values, and governing principles.
In many cases, often the strategy that is eventually realized, differs from the original plan. The planning and implementation as iterative processes that balance each other can produce meaningful outcomes. Strategy implementation management is fundamentally an iterative cycle to design, build, scale and optimize business competency to achieve the desired effect under specified performance standards and conditions. Sufficient resources, knowledge, technology, talent management and skills, etc, are all critical factors to execute strategy.
Governance is less about control, more about delegation, accountability, optimization. Corporate governance has a direct link to strategy management and its processes. By enforcing governance practices, the management takes “finger-out” to engage in; enables cross-functional dot-connecting for innovation, and develops an agile mindset and governance practices to lead capability-based strategy implementation; Not only for achieving the financial results, but also creating multifaceted value based on clearly defined corporate guidance, values, and governing principles.
In many cases, often the strategy that is eventually realized, differs from the original plan. The planning and implementation as iterative processes that balance each other can produce meaningful outcomes. Strategy implementation management is fundamentally an iterative cycle to design, build, scale and optimize business competency to achieve the desired effect under specified performance standards and conditions. Sufficient resources, knowledge, technology, talent management and skills, etc, are all critical factors to execute strategy.
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