Many companies hire expensive consultants, agency planning teams or innovation “gurus” to develop new strategies but surprisingly many plans fall down due to poor execution.
So here’s a quick guide to help improve your strategy execution using my experience implementing large company-wide marketing strategies, major advertising campaigns and new product launches.
1. Inform people on the rationale for the change and improve the flow of information
Strategy execution is often ineffective in large organizations because a lack of vital information results in poor decision making. Frequently, information is hoarded by corner-office executives, protected by gatekeepers or never transmitted beyond various business unit silos. The key steps to strengthen the information flow are;
- Communicate and supply information about your new strategy to your employees so they understand the major components of the plan and the projected benefits the strategy will deliver to your company and people
- Provide your employees up-to-date market intelligence on competitors, customers and key driver metrics that measure company performance
- Develop an internal communications plan comprising of management meetings, emails, conference calls, employee newsletters
- Setup informal Q&A forums to improve data visibility and use your company intranet or shared drive to post critical business information, competitor and customer research or important presentations.
2. Build ownership of the strategy at all levels
Strategy execution can fall down when there’s uncertainty around people’s roles and responsibilities, fuzzy accountability or ambiguity about the ownership of decision rights. Clarity around decision-making is important because people need to know who’s accountable and senior management need the ability to track achievement and success.
An important building block is to create ownership of the new strategy by using employee workshops because this makes the planning process inclusive and builds collaboration, teamwork and trust. Moreover, develop a blueprint and roadmap so people understand the strategy, new direction for the business and timelines for implementation. Finally, improve execution efficiency and remove decision making paralysis by documenting people’s roles and responsibilities, assigning accountability for critical projects and communicating these to the wider organization.
3. Create a sense of urgency to overcome challenges and maintain momentum
Motivation is a critical factor for effective execution since it can seem like an insurmountable task to suddenly change direction. As people, processes and products that are rooted in the past need to transform quickly, do you have the optimal organizational structure, best talent and a diverse rage of expertise on your team?
An important enabler for effective execution is to create cross-functional teams and assign process owners and project managers to coordinate strategy execution across business lines. Changing the organizational structure is difficult, so a good approach is to search your company for talented managers and functional experts to create your project teams. Remember to keep employees motivated by using team performance awards and recognise individual achievement or top performers for their great work.
Every plan has its execution challenges but improving the flow of information and sharing best practices throughout the business can help overcome difficult problems, improve efficiency and maintain momentum. It’s a great idea to create a centre of excellence to distribute best practice and improve oversight, strategy delivery and cooperation between business units. Lastly, always be realistic about your organization’s capabilities and capacity for change; tackle small projects first and aim for bite-sized successes.
4. Inspire people to embrace change and lead by example
You cannot execute a strategy with an email, a few employee meetings or pep-talks. But how often have we seen senior management try it – or alternatively we see a big-bang new strategy launch followed by silence after just a few weeks.
To get your people inspired so they can champion the gameplan, leaders must be in tune with the pulse of the business. This starts with setting clear goals and priorities and getting to know your people and business inside-out. A critical element is for leaders to follow through on deliverables, anticipate roadblocks and obtaining timely performance feedback.
I’ve mentioned the importance of communication, improving the flow of information, recruiting the best talent and sharing best practices. With these tools in place, leaders should then support decision-making at lower levels since front-line employees usually have the best knowledge about customers, clients and suppliers. The result is empowerment that delivers faster speed-to-market and execution.
Acknowledgments:
Execution: The Discipline of Getting Things Done (2002), Larry Bossidy, Ram Charan and Charles Burck.
Harvard Business Review (June 2008), “The Secrets to Successful Strategy Execution”, Gary Neilson, Karla Martin and Elizabeth Powers.
