Planning a winning strategy is certainly difficult, but implementing it is certainly even more complicated.
All organizations have a challenge that comes up again and again: bridging the gap between planning and execution.
Let’s imagine a CEO who has already planned his own strategy: now how can he be sure that it is executed?
A planning is never linear and all the possible variables make execution, especially the long-term one, even more complex.
In this area, realistic estimates such as times, resources and costs of each of the activities, necessary to align them with business objectives, must be considered.
According to research from HBR, in the strong companies of execution, 71% of respondents have a good idea of the decisions and actions for which they are directly responsible. Furthermore, even in companies we call best in execution, only two-thirds of employees agree that important strategic and operational decisions quickly translate into action.
This is why we believe that communication plays a key role in defining roles and responsibilities, but not only that: it ensures that all the identified stakeholders needed to carry out the execution are aware of the overall objectives and results and that everyone has control over their activities.
This approach allows anyone to know what to do in the next period to add value, in addition to their daily operations: this week, this month, this semester, this year.
This means that leaders will know exactly how the organization is doing and where the projects are going, assessing performance, costs and resources.
What results from a good strategy is the creation of many projects, the implementation of which leads to success and achievement of objectives. But most organizations initiate more projects than they are able to complete, which leads to poor or unpredictable results.
Also according to the HBR, 9 out of 10 managers expect their organisations’ main initiatives to end in failure due to lack of resources.
Resources are allocated at the start of the execution. Their lack can be a signal of many things: bad allocation, lack of clarity on the strategy that you want to implement, changes occurred in progress, etc.
The key to bridging the gap between strategy and implementation is to ensure that every stakeholder knows and understands the plan and focuses on its implementation. In this way the objectives connect with the “enablers”: people, infrastructures, resources and finance.
Therefore, the introduction of a tool that ensures that leaders have full visibility at the level of execution, so as to resolve critical issues promptly, allocate the right resources by improving the alignment of business objectives and evaluating actual performance, becomes necessary.
My Single Point is a tool that allows management to lead complex business operations, establishing partnerships and defining the various responsibilities between business units, to achieve objectives and effectively execute the strategy.
Would you like to learn more and understand how a solution like this can give a tangible breakthrough to your business strategy? Book a demo.