Excellent strategy execution doesn’t happen by accident, and these are the tell-tale signs of failure, as i-nexus’ Executive Vice President of Sales and Marketing, Rob Hill, explores.
The business world is scattered with the wreckage of many visionary executive leadership teams who designed transformational strategic plans, yet royally messed up their execution. This is therefore resulting in significant reductions to shareholder value, executive remuneration or often their shorter than expected tenure…
…bewilderingly all major corporations invest in enterprise software for finance, HR, marketing, distribution, manufacturing and other business critical functions. However, they rely on MS Excel or other simple productivity tools to design, cascade and performance manage the execution of their long-term strategy. What they don’t have in place or demand from their CEO is a general management or Strategy Execution platform. Surely this borderline executive negligence?
In its purest distillation, the successful execution of an executive leadership teams’ global strategy is reliant on cascading the strategy in its constituent, actionable parts through many levels in an organisation across numerous matrix organisation structures, continents, sites, languages and time-zones. And then critically being able to simply ensure accountability by ‘performance managing’ the hundreds or thousands of people who actually need to execute their small, yet vital part of the larger strategy.
The reality is many organisations seem to assume brilliant strategy is absorbed either via some form of magical osmosis or the emailing of a project plan and excel worksheet will guarantee its success! These are the organisations whose strategy execution often fails, with spectacular results including failed M&A initiatives, profitability warnings, share price plunges and executive purges.
Clearly there is a solution. Every global organisation needs a Strategy Execution platform…
- A platform for the executive team to detail their full strategic plan with all initiatives and actionable components;
- A strategy engine to cascade the actions to the thousands of people worldwide responsible to deliver their small component;
- A mobile tool to allow for the real-time efficient tracking of progress of executing strategy;
- The strategy execution cockpit for the executive team to monitor in real-time the progress and challenges of the execution of their strategy.
A Strategy Execution platform is both a management tool for the deployment of strategy and the early warning system for when things are going wrong or slowing down. Having the ability to shine a light on the areas that are causing problems, is an incredibly powerful tool for the future success of your organization. The complex, digital world in which business operate today demands a platform to enable perfect strategy execution, which is able to effectively rise above the noise of day-to-day management. The Strategy Execution platform must be a more efficient way of tracking execution, along with real-time access and visualisation of data and critically resulting in the ability to move the strategy execution needle from invisible to visible.
We are running a series of free workshops in Europe and North America which will show you:
- The difficulty of sustaining exceptional performance;
- The 6 execution principles followed by the best performers;
- The different approaches to strategy execution and pros and cons;
- Why the right technology can make a difference;
- Options and resources available to you to help you execute more effectively.
Head to our Hoshin/Strategy execution executive briefing and workshop web page to register your seat.
Itching to learn more?
We have a wealth of resources freely available to digest, all designed to help you achieve your strategic goals. We’ve hand picked the below to set you on the right track:
- How to get your strategy to play ball with the catchball process: Great strategies make use of the catchball process. Here’s what that means and how you can integrate it.
- 7 can’t miss requirements when choosing a Strategy Execution platform: Selecting the right Strategy Execution platform is an important choice – these are the 7 requirements you need to keep in mind.
- The emergence of the CXO demand for a Strategy Execution platform: The expectations of senior leadership teams are evolving, and we’re seeing an emerging demand for smart, nimble and insightful strategy software platforms from the CXO. Here’s why.
About the author
Rob Hill is i-nexus’ Executive Vice President of Sales & Marketing. With 20+ years of global Cloud enterprise software experience, his passion is on delivering genuinely transformational and sustainable solutions which add value by solving real business problems, resulting in amazing customer satisfaction and retention with a genuine ROI.