Strategy implementation is a process that puts plans and strategies into action in order to achieve strategic goal(s). That’s different than the strategic plan. The strategic plan is a roadmap about how to achieve a future state, but strategy implementation is the vehicle that gets you there. Through our “strategic implementation travels”, we have identified five key steps required to drive successful execution of your strategic plan.
Align and Begin the Journey
Creating a performance based culture and utilizing performance analytics is central to effective performance management. But to be truly effective, organizations must move beyond identifying and tracking a few key metrics in a spreadsheet format. Instead, they must build a system to interpret, analyze, and communicate performance, which then be used to validate the plan or point to needed adjustments.
The first step in strategy implementation is to construct the right team. The organization must identify the right leader to be ultimately responsible for the overall implementation. Once an implementation leader has been established, work teams and team leaders can be identified for each objective.
Decide What to Do
Once the leaders and work teams have been established for each objective, the next step is to identify the ideal projects to accomplish each objective. Due to many resource constraints, it’s impossible to make every project idea actionable. Consequently, a filtering system is required to prioritize potential projects based on criteria such as alignment with strategic focus, expected ROI, resource needed etc. to select the best options for implementation.
Establish an Ongoing Evaluation System
Define What to Measure
The last implementation step, which feeds directly into performance management, is to define a way of measuring your success. Quantitative data is an excellent way to determine if you are on the right track, making progress, and achieving outcomes.
Create Internal Alignment
In order to realize the efficiency of implementation, organizational alignment must be present. This includes aligning individual and department goals with organizational goals, aligning daily activities with strategic priorities, aligning operational processes with strategic management processes, and aligning internal resources. Effective communication and collaboration is a critical success factor here.