How many times has it happened that, we make a well-studied strategy keeping in mind all the key variables, envisioning the goals, and drafting the timeline. As the financial year proceeds, the realization starts to grapple up about how the designed strategy is not being implemented in the firm, and with every passing day, the journey from the boardroom to the field starts feeling far-fetched and not attainable in the current fiscal.
If you have been in a similar situation, then don’t worry because you are not the only one facing the issue. The majority of founders, and managers face the same issue when it comes to the successful execution of a designed strategy. Successful strategy execution is a process that requires clear objectives of the strategy defined to the minutest level along with an integrated resource process to achieve strategic goals. Below mentioned are some of the key pointers which can be kept in vison for a successful transfer of strategy and to leverage it for the utmost advantage of the firm.
a) Strategy Formulation:
The first step towards a successful strategy execution in the formulation of a strategy that is inclusive of a firm’s resource availability, and core competence and which aligns with the culture of the organization. A strategy based on comparisons, unrealistic goals, and misaligned with the capabilities of the firm will only lead to failure in the implementation part. Such strategies, even if implemented, will only be giving outcomes that are short-lived and which will not be having any major contribution to the organization in long run and worst cases might cause more harm to the firm’s goals.
b) Communication of Strategy:
Oftentimes a strategy is devised in close chambers, with a lot of brainstorming from key opinion leaders. The failure often happens, when this vital information is not transferred to the relevant stakeholders, making them feel isolated from this complete process of strategy formulation and execution.
A strategy needs to be communicated effectively, in the language, and through a medium which is relatable and easy to understand for the relevant stakeholders. It can be in a form of a well-defined Gantt chart for some, a flow chart explaining all the procedures in detail for some or just a new target sheet for some. All the modes of communication should be aligned with the strategy, care to be taken to make it simple, avoid unnecessary jargon, and keep the communication two ways.
c) Assigning Milestones:
A journey on the path of strategy is a long-term journey, it is a marathon, not a 100-meter sprint, and so, it should be treated like that. It is important to break down the process of strategy execution into key “Milestones”, which are defined as small key achievements which mark important activities of a huge task. Achievement of small tasks, reflecting on the journey, gives a sense of satisfaction to the team, and motivates them for the rest of the execution process. Keeping a tab on milestones gives assurance about the validity strategy plan and correct execution of the strategy.
d) Monitoring Performances:
While making a strategy is often kept to board members or Key Opinion Leaders, it is the team that has to act upon the strategy, and bring it into reality.
Sketching a plan for teams and individuals, designing their KRAs (Key Responsibility Areas) in such a way that the collective effort of each team adds up to the achievement of the strategic objectives of the firm and also leads to the individual growth of the team member. Monitoring metrics like KPIs (Key Performance Indicators), Performance Measurement Systems (PMS), etc. are some on the effective tools to carry out timely performance evaluations.
e) Review Mechanism:
All the firms operating in the market, and are a part of some or other, larger industry. Nowadays, due to the abundance of information and globalization, all the industries have become connected to each other as a part of a large chain. Any disturbances due to any of the PESTEL parameters can have positive or negative, both kind of effects on the firm, moreover, some internal resource processes will also have effect on firm. To make sure that the firm's strategy gets evaluated based on all such variations it is needed to have a review mechanism in place, to accommodate any of the changes needed in the resource allocation part of the strategy execution.
f) Controlled Innovation:
Innovation leads to Growth is no doubt a strong statement, and we all will agree with it, but, when it comes to strategy execution and sustainable organizational growth, controlled innovation in processes, products, and communication is needed. In many firms, aspirational leaders set up ambitious innovation targets, often ignoring the capabilities of established processes and systems in the firm. In most of the cases, it leads to the creation of a hollow result-oriented mechanism, unfit for long-term survival, leading to failure of strategy execution and demoralizing of the team. A study of existing processes and systems of a firm, with the lenses of resource availability, should be kept while pushing the innovation boundaries of the firm.
These steps can be helpful for emerging and seasoned leaders while taking up the strategy execution.
This article is brought to you by: Nilesh Deotale from,
About :Anvikshiki Consulting, An Integrated Strategy Consulting firm,
Anvikshiki has earned value from its clients in formulating and implementing integrated emergent strategies. Founded and managed by the IIM Alumni,
Anvikshiki Works in to Pharma, FMCG, Renewable, Jewelry, Information and Technology, OEM, Autoparts, Building Material Industry, PVC, and Packaging Industry to solve their strategy, Marketing and Sales, Human Capital Problem, Corporate finance, Business Processes Defining and Digitalization to name a few.
About Nilesh Deotale : Nilesh is an Implementation consultant with Anvikshiki Consulting, he is involved in Pharma, Renewable, and FMCG Industry, and he takes care of Strategy, HR and Business processes, Nilesh holds his MBA From IIM Bodhgaya and he has completed his BE in Electrical Engineering from Maharashtra.
You can connect to Nilesh on nilesh@anvikshiki.com or 8799068035.
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