Strategy Execution Consulting
90% of companies don’t effectively implement their corporate strategies. Effective Strategy Execution requires various components and mechanisms that constantly remind all stakeholders that they need to use the business strategy as the litmus test for everything they do. It also requires the use of tools that measure strategic execution performance. Stakeholders tend to get so caught up in the day-to-day noise and strategy becomes something “we did 6 months ago”. Group50’s strategy execution process insures this doesn’t happen.
Strategy execution is about the implementation of a company’s strategy. As we work on projects with our clients, we use the “Where To Play”, “How To Win” strategic planning methodology and rigorously test our activities against our change management framework – Business Hierarchy of Needs® developed by Group50® and applicable to any organization, industry or group. Effective strategy execution requires the following things:
- A Most Important Goal that everyone understands
- Clearly defined strategies
- A complete understanding of the company’s strategic gaps and operating gaps
- Alignment of all stakeholders (BOD, C-level, employees, contractors, vendors) to their role in executing the company’s strategy
- Well-developed organizational plans
- Clearly defined roadmap(s) for programs and projects that deal with identified gaps
- A well-defined Change Management Plan
- Strategic execution process that is supported by the appropriate tools and methodologies
We have various tools we apply to working with our clients in the execution of their strategy. We use several different tools (manual and cloud-based) within our strategic execution practice. The latest addition to our toolkit is StrategyWorks, a powerful, easy to use platform that links business objectives to execution plans and provides live personalized views of execution to all stakeholders across the organization: 24/7. It is especially powerful in managing post-merger integrations because it also tracks value creation.
We also have over 50 workshops and assessments that are part of our Company Physical®, supporting our strategic execution efforts. They are designed to identify strategic and operational gaps throughout the company and workshops that are designed to engage process owners and functional leaders in the development of their change management roadmaps that address identified gaps.
During a company’s business lifecycle, most company’s will need to address the following strategic execution needs:
- Strategic Planning
- Cost Takeout
- Business Transformation
- Business Optimization
- Mergers, Acquisitions and Integration
- Exit and Transition Planning
Our structured approach to strategic planning and strategic execution works well in each of these situations. Every company MUST do strategic planning and Group50’s tools ensure that strategy execution is effective. You can also learn more about our thinking following strategic blogs and for those who want to learn more about the implications of poor strategic execution: something we call Anti-Strategy