Strategic planning and execution – Bridging the gap between business strategy and great performance A strategic plan must be clearly defined and based on all the changes required within an organization. When the strategic plan is itself not clearly understood, it becomes even more difficult to execute it. Team leaders and managers must communicate the change management plan to the employees to help them understand not only what has to be done, but why it has to be done and what their role can contribute towards the overall fulfillment of it. Strategy execution is the successful implementation of the strategic plan. Mostly the emphasis is given to strategic planning, although it is equally important but plans are of no use if they aren’t successfully executed. It bridges the gap between a business strategy and great performance. 90% of the companies are poor at executing their strategic plans and every senior leadership team wants to be more effective at strategic execution. Group50, one of the leading strategic planning consulting firms recognize that every organization will have different needs and they have the flexibility to work with a senior leadership team through the whole process or focus on one area where execution is suspect. They work with the senior leadership team to develop a comprehensive and integrated strategic plan that builds clarity and consensus for all stakeholders; customers, employees, contract workers and vendors. Their holistic methodology focuses on leveraging the intersection of people, process and technology for your next wave of productivity. A successful strategic execution requires a structured approach that needs to address the identified strategic and operational gaps. Though implementing a successful strategy is hard but a good strategy execution can make you stand apart from the crowd. Strategy execution encompasses the following steps to ensure the success of your company’s strategy: Clearly defined strategies Create a clear illustration that can help the organization to understand what the current strategies are and how they relate to one another. Identify the valid approaches that are
needed to realize the strategy and provide guidance to the organization on how to make the strategy operational. A complete understanding of the company’s strategic and operational gaps In this step, a complete assessment is done to understand the strategic and operational gaps and uncovers the root causes. Strategy planning and execution consultants can help your organization to thoroughly understand the underlying issues and the areas for improvement. Clearly defined roadmaps of programs and projects to deal with identified gaps It involves the organizing of all projects particularly the strategy ones to improve the project oriented strategy execution. They are aligned to the strategies or goals of the organization. To fill the gaps, only the projects that directly impact the strategy must be continued and resourced. Alignment of all stakeholders to their role in supporting the company’s strategy Strategy execution involves everyone from board of directors, C-level, employees, contractors to vendors; everyone who is involved in executing the business strategy. Each of them can have a different role but all of them contribute to the company’s strategy execution effort. Strategic execution process that is supported by the appropriate tools and methodologies All the changes implemented to fill the strategic and operational gaps must be monitored with the appropriate tools and methodologies. Careful monitoring of the results at the early stage provides supervision whether the applied set of strategies is delivering the desired results or it requires a strategy revision. Looking to hire a strategic planning consultant for your business? Contact Group50, a renowned strategic planning consulting firm that follow a proven strategic planning process that utilizes the “where to play” and “how to win” methodologies that are broadly used in various corporate organizations. Their holistic methodology encourages senior leadership teams to look at their strategic needs as well as the strategic and operating gaps in their business processes and organization. They focus on leveraging the intersection of people, process and technology for your next wave of productivity. Visit: https://www.group50.com/