Just about everyone we talk to is looking at how to develop an effective strategy for reducing costs, improving capability and breaking into new markets. As businesses both large and small move further into a world of uncertain economies, smart devices, 24×7 data availability, boundary-less organisations, and disruptive technologies you need to consider the most effective way to plan and deploy.
Coming up with ideas and objectives is relatively easy. It’s pretty obvious to see when you need to cut costs and increase revenue. Strategy execution on the other hand is a tad more nebulous. It becomes all about the priorities you set, the capabilities you have, the actions you take, when you take them and how.
The priorities you set need to be converted to actions that are going to realise results. For this you need some sort of framework. After all you wouldn’t build a house without a plan would you?
As part of our Strategic Performance Framework we consider five benefit and value realisation elements:
- Cost
- Quality
- Leverage
- Growth
- Transformation
Taking a piecemeal approach to strategy execution is never effective. If you have taken time to come up with a plan, you now need to take the time to work out how best to execute it.
I would like to hear your thoughts.
Until next time,
Jackie
