Business Execution - Part 5: Executing Your Strategic Plan
by Eileen Ashmore, MBA
of E.M. ASHMORE & ASSOCIATES INC.
This newsletter summarizes Chapter 8 ‘How to Conduct a Strategy Review’ from Larry Bossidy’s and Ram Charan’s book Execution - The Discipline of Getting Things Done.
They tell us that a strategy review must get everyone thinking and talking about reality. The questions to ask – is it plausible, realistic, internally consistent, does it match critical issues and assumptions, and, is everyone committed and accountable to their part of the Strategic Plan? They recommend asking these more in-depth questions:
- How well versed is everyone/every business unit about the competition’s strategies to increase market share and block expansion initiatives of other competitors?
- How strong is your organization’s capability to execute the strategy such that your value proposition is so good that it increases customers’ revenues (and your financial results)?
- Is the plan scattered where your focus is diluted or is the plan sharply focused?
- Are you choosing the right ideas that will move your organization forward that are within your organization’s capability, and, are possible within market realities so that you make money?
- Are the strategy goals clearly linked with people and operations capability?
- Can the strategic plan be seamlessly transitioned to the operations plan?
- Do you follow through to ensure the strategic plan is executed? They suggest that you write each team member a letter reviewing their role and then use this letter for measuring future progress
Often there are divergences within a Management Team on the direction and goals of the company. When I work with my clients, I conduct an assessment to uncover similarities and differences. In a strategy session, we discuss these similarities and differences and work towards bringing the team together as a stronger and more directed unit to achieve company goals. As the leader, you are a role model for ‘getting things done’. Your focus in building and executing a strategy that is within your company’s capability, and, within market reality will determine your progress in 2008. Lester R. Bittell said it best when he said “Good plans shape good decisions. That’s why good planning makes elusive dreams come true.”Execution - Part 4: The Three Core Processes of Execution
[Back to Execution - Part 1]
by Eileen Ashmore, MBA
of E.M. ASHMORE & ASSOCIATES INC.
www.ashmore-assoc.com
(403)252-0799.
Eileen Ashmore, MBA, provides a FREE 1 hour consultation
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