Many executives have troubles when they try to execute an approved strategy: good ideas and their successful implementation are two separate things. Why does the execution of a strategy so often fail? According to theleadershiphub.com, there are three common pitfalls that have to be taken into account: collective focus, disciplined execution and the road map.
“We often have good ideas, but we have to execute these well, otherwise they are useless.”
This was said by the CEO of Philips; a similar opinion is held by the former CEO of Royal Dutch Shell. If CEOs of top companies experience difficulties implementing their strategies, it can be expected that leaders in other companies will too.
Communication that creates focus
A series of slides at a conference presentation does not do the work of an executive. A strategic road map has to be created, one which clearly communicates the message to all employees. Moreover, the entire group of key stakeholders should be engaged in the preparation of such a document.
The document should cover the following topics:
1) where we want to go (our vision)
2) why the change is needed (the gap with the current reality)
3) which choices will get us there (strategic priorities)
4) what our desired results are
5) how we want to achieve the change – our actions, timing and resources
Regular updates
A strategic road map is able to channel energy and coordinate the actions taken by different people and departments. Collective focus is essential for a strategy to be executed properly. A strategic road map is never a static document because it is never complete: it develops as time passes, with feedback on steps taken. Strategic priorities can change as the business environment evolves.
Refrain from solving minor issues
There can arise some operational issues; however, since these are not of strategic importance, the strategy execution should not be postponed because of them.
-jk-