Sucessfull Strategy Execution Criteria

Context:

We have the strategist and executors a.k.a the CxO and the Middle Management. If you ask some strategist deriving and well thought Strategy/plan is challenging  compared to Executing a Strategy, and vis from the "Executionist". Each play a vital role in success of the organization. 

There is a saying widely used today:

An idea that is developed and put into action is more important than an idea that exists only as an idea.
– Buddha 

Similar to that a Strategy, without the craft of an Execution is useless.

Being in both shoes, I would like to share my thoughts from a Executor perspective. What makes a successful execution of a strategy.

1. The Planning

There are many write-up on planning, how-to's and etc. Its not a planning if does cover the below topics to a significant extend:

• The expected final outcome (Achievement)
• The immediate steps required to get there, be it small or big.
• How is the plan going to be Track/Measure of its progress.
• Reporting structure. Who, What and When?
• Communication Plan
• Executive Sponsor and Advisers

When we have answers with confidence for the above, we can progress to the next key criteria. In fact its one of the most valuable criteria.

2. Communication

• Communication needs to be a 2 way street, there needs to be a feedback mechanism in place to address issues, idea and approach with an open mind.
• Frequency of progress communication, all staff forum.
• It never about starting execution to communication excellently in the beginning, its about keeping communication consistent, clear and concise.

3. Objective Setting

Now that we have an idea and plan to communicate the progress, next would goals or objective.

• Setting a tangible goal that is aligned to the milestones in the Strategy. Failing to do so, will results in people, loosing focus, sometimes burnout.
• Element of pragmatism should be applied:
•     Reality check on the plan with the current constraints.
•     Do we have the right People, Process and Technology to support the activities to completion
• Shared mental model of the Strategy. Does people in the team understand gist behind the strategy. This will help in empowering people to be creative while stay on track on the goals.

4. Reporting

There is always a need to have reporting flowing through the process to ensure people within the team is updated and get a view on the overall progress. Also for the top management to ahve a visibility. I have experience many time top management stepping to revise the strategy in the midst of the the execution plan. Agility is key, however i do agree it needs to be control.

E.g: Scorecard, Gantt Char, Issue and Risk Logs

5. Appraisals / Performance Measures

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For those in the corporate world would know this topic well, you probably go through this 1-2 times a year, justifying you time, effort and worth to managers. Prior to all those appraisal session, there are some critical mapping exercise done.

Each goal should me align to some methodology:

• KPIs that measures peoples effort and rewards.
• Simple, accessible to people and fun.
• Social, Transparent, fair and well accepted.

6. Remuneration

Why do we go through he hassle of executing a strategy, and followed by appraisal process? Remuneration is the key reason. Mapping and working in alignment of Point 1 through 5 will set you in managing the expecting and expect a positive outcome for your good self.

Conclusion:

The criteria above are checkpoint to validated our progress and action towards successful execution of a stratey. Hope this was some helpful content. The best approach to successfully executing a strategy is to become increasingly critical as the organization grows.