Effective Communication and Collaboration Critical for Strategy Execution
Great ideas are meaningless if they translate into countless hours of creating detailed business and strategic plans with no follow through. Execution is a critical component of any strategy. The people process is just as important as strategy or operation processes. The people of an organization make the judgments that those strategies are based on. Strategic goals cannot be attained without a careful, planned approach. Many organizations fail at execution because of a lack of a framework or methodology put in place that is repeatable. Executives need to be able to connect their strategy to the individual goals of each stakeholder or employee.
Strategic execution requires considerably more time, commitment, and resources than developing the plan itself. Having too many priorities is like having too many balls in the air. It can get problematic if only one is focused on. Staying on top of results is key to ensuring execution. Key performance indicators (KPIs) should be developed that can be measured and monitored on an ongoing basis. Organizational alignment must be present in order to realize the efficiency of implementation. Effective communication and collaboration are also critical success factors. Periodic strategic meetings can help executives determine if the strategy is sound considering changes within the organization, industry and economy. Bridging the gap between planning and execution helps organizations avoid unnecessary pitfalls and achieve exceptional performance.
Read our white paper for more information on making strategy execution a reality: