Do We All Agree on What 'Strategy Execution' Means?
We all talk about the importance of executing strategy. A strategy means nothing if it’s not executed. Companies can’t be successful without doing it well. All employees at all levels need to know how to do it. We all agree. This is clear.
Still, when a corporate team discusses “strategy execution,” what common ideas inform the conversation? What actions are they committing to? What accountabilities go along with the chatter? Is everybody even speaking the same language? Sometimes that isn’t so clear.
Which is why we like this blog from Advantage Thought Partner, Root Learning. In it, Brad Haudan sheds light on the issue by describing 5 beliefs that the companies best able to deploy strategy seem to have in common. These beliefs are that:
- Strategy is about trade-offs
- Strategy shouldn’t be created via democracy
- Strategy is a look forward, not back – and that’s what makes it so difficult
- Most companies spend lots of time creating strategy, but far too little time focusing on its execution
- In order to create the best, most relevant strategies, the entire executive team needs to spend time in the marketplace
We’ve seen it ourselves: organizations that share a common vision and approach are able to transform “strategy execution” from meaningless business-speak into concrete action. And these organizations end up being the most successful.
Much of Advantage’s work with clients these days has a strong focus on this issue. Read how Advantage recently helped pharma giant sanofi-aventis execute its key corporate strategy.
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