Strategy Execution
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The document discusses strategy execution and outlines three key building blocks for effective execution: 1) The leader's seven essential behaviors which include knowing the business, insisting on realism, setting clear goals, following through, rewarding performance, coaching employees, and self-awareness. 2) Creating an execution culture by setting clear expectations, discussing how to achieve results, and rewarding results. 3) Having the right people in the right jobs by ensuring a robust people process that is linked to the strategic plan and focuses on leadership development, performance management, and succession planning. Effective execution also requires alignment between the strategy, people, and operational processes.
Strategy Execution
- 1. Strategy Execution The Discipline of Getting Things Done
- 2. You can download this presentation at: www.studyMarketing.org Visit www.studyMarketing.org for more presentations on Marketing, Strategy, Innovation, and Branding
- 3. Redefining Strategy Execution
- 4. Execution is a discipline, and integral part to strategy No worthwhile strategy can be planned without taking it into account the organization’s ability to execute it
- 5. Execution is the major job of the business leader Execution requires a comprehensive understanding of a business, its people and its environment – and the leader is only person in a position to achieve that understanding Only the leader can make execution happen, through his/her deep personal involvement in the substance and even the details of execution
- 6. Execution must be a core element of an organization’s culture Execution has to be embedded in the reward systems and in the norms of behavior that everyone practices.
- 7. Three Building Blocks of Execution
- 8. Building Block One : The Leader’s Seven Essential Behaviors Building Block Two: Creating Execution Culture Building Block Three : The Job No Leader Should Delegate – Having the Right People in the Right Place
- 9. Building Block One : The Leader’s Seven Essential Behaviors 1. Know Your People and Business. Leaders have to live their business. In companies that don’t execute, the leaders are usually out of touch with the day-to-day realities
- 10. Building Block One : The Leader’s Seven Essential Behaviors 2. Insist on Realism Realism is the heart of execution, but many organizations are full of people who are trying to avoid or shade reality Start by being realistic yourself. Then make sure realism is the goal of all dialogues in the organization
- 11. Building Block One : The Leader’s Seven Essential Behaviors 3. Set Clear Goals and Priorities Leaders who execute focus on a very few clear priorities that everyone can grasp Focusing on three of four priorities will produce the best results for the resources at hand visit: www.studyMarketing.org
- 12. Building Block One : The Leader’s Seven Essential Behaviors 4. Follow Through Clear, simple goals don’t mean much if nobody takes them seriously The failure to follow through is widespread in business, and a major cause of poor execution
- 13. Building Block One : The Leader’s Seven Essential Behaviors 5. Reward the Doers If you want people to produce specific results, you reward them accordingly. This fact seem so obvious, yet many corporation do such a poor job of linking rewards to performance that there’s little correlation at all
- 14. Building Block One : The Leader’s Seven Essential Behaviors 6. Expand People’s Capabilities via Coaching As a leader, you’ve acquired a lot of knowledge and experience – even wisdom – along the way. Your job is passing it on the next generation of leaders. This is how you expand the capabilities of everyone else in your organization, collectively and individually. visit: www.studyMarketing.org
- 15. Building Block One : The Leader’s Seven Essential Behaviors 7. Know Yourself Without emotional fortitude, you can’t be honest with yourself, deal honestly with business and organizational realities, or give people forthright assessments. visit: www.studyMarketing.org
- 16. Building Block Two: Creating Execution Culture The basic premise is simple: Culture change gets real when your aim is execution.
- 17. Building Block Two: Creating Execution Culture You don’t need a lot of complex theory or employee surveys to use this approach. You just need to change people’s behavior so that they produce results.
- 18. Building Block Two: Creating Execution Culture First, you tell people clearly what results you’re looking for.
- 19. Building Block Two: Creating Execution Culture Then discuss how to get those results, as a key element of the coaching process.
- 20. Building Block Two: Creating Execution Culture Then you reward people for producing the results. If they come up short, you provide additional coaching, withdraw rewards, give other jobs, or let them go. When you do these things consistently, you create a culture of getting things done!
- 21. Building Block Three : The Job No Leader Should Delegate – Having the Right People in the Right Place Why the Right People Aren’t in the Right Jobs?
- 22. The leaders may not know enough about the people they’re appointing The leaders may pick people with whom they’re comfortable (psychological comfort), rather than others who have better skills for the job The leaders may not have the courage to discriminate strong and weak performers and take the necessary actions.
- 23. The leaders aren’t personally committed to the people process and deeply engaged in it !!
- 24. The execution-oriented leader devoted an inordinate amount of time and emotional energy to hiring, providing the right experiences for, and developing leaders.
- 25. Core Process of Execution
- 26. Strategy Process People Process Operational Process Core Process of Execution
- 27. Strategy Process Defines where a business wants to go
- 28. What is the assessment of the external environment? How well do you understand the existing customers and markets? What are the critical issues facing the business? What is the best way to grow business profitably? Can the business execute the strategy? What are the important milestones for executing the plan? A strong strategic plan must address the following questions:
- 29. Strategy Execution Review Questions How strong is the organizational capability to execute the strategy? Is the plan scattered or sharply focused? Are the linkages with people and operations clear?
- 30. People Process Defines who’s going to get it there
- 31. A robust people process provides a powerful framework for determining the organization’s talent needs over time, and for planning action that will meet those needs.
- 32. Robust People Process based on the following building blocks: Linking to strategic plan and business results Developing the leadership pipeline though continuous improvement, succession depth, and reducing retention risk Deciding what to do about non-performers
- 33. Operation Process provides the path for those people.
- 34. A robust operation process focuses on an operating plan that links strategy and people to results.
- 35. Operating plan includes the programs your business is going to complete within one year to reach the desired levels of such objectives as earnings, sales, margins, and cash flow.
- 36. Source of Reference: Larry Bossidy and Ram Charan, Execution : The Discipline of Getting Things Done , Crown Business Publication