Learn About Strategy Execution

Basic overview of Strategy Execution

Strategy execution focuses specifically on how the implementation of a specific strategy is optimized in order to attain organizational goals. Strategy execution encompasses structures, plans of operation, and systems that set a corporate team up for success. According to Harvard Business Review, there exist critical steps necessary for the proper execution of strategies. First, the statement has to be made imperative. For instance, “train employees in the new customer relationship system of management.” The illustration given is an action that can be assigned to someone for completion in a particular date and time. In contrast, the use of wording such as, “training employees” does not seem to address any person, so its completion might not be as simple as the first illustration. Within an effective strategy execution plan the action to train employees is completed as made in the first statement, it will be deemed executed. In this very basic example the strategy is, training employees, and steps taken to train employees effectively is strategy execution. The statements ought to be given to real owners. Strategic statements are established at an organizational level, but their implementation in the organization involve persons in a particular department is the start of strategy execution. The persons to whom the mandate for execution are granted are accountable directly to the organization’s chief executive officer. For instance, if a strategy states, “manage safety and health in accordance with best practices at global level,” in such a circumstance, relevant employees bestowed with the mandate to execute the strategy are a human resource. When thinking about strategy execution, they are the executor of the strategy and are accountable to the managers.

The primary problem encountered in strategy execution is translating more extraordinary ideas concerning that which makes an organization competitive at the organizational level into concrete actions for progress at the personal level. To overcome the challenges, the previously mentioned steps are worth overriding the challenges. Change management initiatives are challenging and strategy execution often needs strong focus and tools that help convert the strategy into reality.

Why Strategy Execution is important

Strategy execution is a critical part of effective strategic change initiatives. A corporate entity might develop a strategy, but if such a strategy does not produce results, its significance has not been achieved. The essence of any strategy is to look towards the future and identify a favored position, then the corporate work backward to achieve the set goal. A great strategy can position a corporate entity in sport-light, but without a solid execution, such a corporate will not last. The existing gap between planning and performance can be what’s keeping corporates from a proper strategic execution. A corporate role in any business setup is to successfully move an organization forward by improving business performances in the operation market. Strategy execution is a continuous reflection process, analysis, and reapplication. Successful strategy execution serves the purpose of improving the performance of the business. In addition, strategic implementation assists a corporate in identifying barriers to its compelling performances in the market. For example, if a strategy is to enhance the quality of goods and services being offered by the corporate by 15% in the next three months, execution of such a strategy plays a role in identifying barriers that were in existence before the targeted goal of improving quality of goods and services by the corporation.

Strategy Execution: Summary

Strategy Execution, if understood and adopted well may create the perfect turnaround for your corporation. It is the one step which corporate leaders have to get right every time, and its lack thereof spells prolonged struggle in the business arena. Thus, every visionary corporate leader will seek to understand, and implement strategy execution in their corporations’ strategic initiatives, strategic plan, and business acumen. The benefits harbored in perfect strategy execution are worth the time, the funds and the struggle.