90% of companies don’t effectively implement their corporate strategies. Effective Strategic 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, as well as spend an appropriate amount of time working on longer term projects. In many cases, employees tend to get so caught up in the day to day noise and strategy becomes something “we did 6 months ago”. Group50’s strategic execution process insures this doesn’t happen.
Strategic execution is about the implementation of a company’s strategy. As we work on projects with our clients, we rigorously test our activities against the Business Hierarchy of Needs® developed by Group50 and applicable to any organization, industry or group. Effective strategic execution requires the following 6 things:
- Clearly defined strategies
- A complete understanding of the company’s strategic and operating gaps
- Clearly defined roadmap(s) of programs and projects to deal with identified gaps
- Alignment of all stakeholders (BOD, C-level, employees, contractors, vendors) to their role in supporting the company’s strategy
- 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 two different cloud based software systems as part of our strategic execution practice Cascade and Midaxo. We also have over 50 tools that are part of our Company Physical® including assessments that 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 roadmaps that address identified gaps.
During a company’s business lifecycle, it 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
Every company MUST do strategic planning and at Group50, our consultants utilize the “Where to Play – How To Win” approach to strategic planning that was created at Procter and Gamble many years ago. For those special cases such as cost takeout, business transformation, etc. our consultants we have tools that are just as robust and you can learn more about them from the links above.
Strategic Execution Process
At Group50 we have developed a strategic execution process that consists of four primary elements:
- Strategic planning
- Identification of strategic and operating gaps
- Development of tactical roadmaps to address gaps
- Implementation tools and systems that ensure accountability throughout the entire organization
As each element is implemented, the number of stakeholders inside the client’s organization significantly increases. We do this as part of an overarching change management process that is designed to insure that there is organizational alignment to their strategies, integration of those strategies across the organization, and optimization of business processes so that all strategic and operating gaps are addressed.
We don’t leave strategic execution to chance. Our approach follows the Business Hierarchy of Needs®, a model of what it takes to implement a culture of strategic execution.