Updated: Dec 17, 2020
If the destination is crystal clear, the plan to get there may change along the way. Agility and the ability to execute changes to the plan, are the hallmarks of a successful organisation.
Developing and executing strategies that deliver real value for businesses and their stakeholders is at the top of every CEO's wish list. Yet, all too often organisations fall short of effectively translating their strategies into action and sustainable results.
Why is this the case?
not having a clearly defined destination;
a complicated plan without clear priorities;
too many initiatives at the same time
ineffective communication; and
misalignment, where employees don’t see the destination or don’t believe in what you are trying to achieve.
Let’s look at strategy development and implementation principles that work.
1. It is a cycle, not an event and needs to be a core Executive discipline in the organisation: Analyse, define, articulate, communicate, align, execute, reflect. Repeat.
Continuous Cycle with interlinking time frames
2. Keep it simple: Drafting the plan to get to the destination by breaking it down into achievable chunks (horizons) with clearly prioritised initiatives per horizon, indicating what success looks like and how it will be measured.
3. Articulation is key: Everyone in the organisation needs to “see the picture” and the benefit of reaching the destination, for them as individuals and for the organisation as a whole.
4. Communicate with purpose and honesty: Explaining the context, providing the details, regularly communicating progress and always telling the truth whether it’s good or bad.
5. Operationalise through employee engagement: Utilising performance scorecards across all levels in the organisation, sets the agenda and creates focus. Structured team meetings can then be used to engage everyone in regular goal-setting, devising action plans and reviewing performance – thereby creating a cycle to manage performance at a team level.
6. Success breeds success: Recognising and celebrating wins builds momentum and healthy internal competition to get to the winning line.
This combination of unified direction and alignment to common goals creates focus and is a key enabler in translating strategy into sustainable results.
Developing and executing strategies that deliver real value for businesses and their stakeholders is at the top of every CEO's wish list. If your organisation needs help defining and articulating strategy and aligning your people behind it, we are here to help.
In the next blog post, more about creating consistency in leadership practices and behaviours that will help set up a winning, high-performance culture.
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About the author: Tjaart Minnaar, CEO and strategy expert at 2Collaborate. Get to know more about Tjaart on LinkedIN