One of the elements that mark the future success of organisations is their ability to make important changes for growth and with long-term goals.
Everything starts with the creation of a solid business strategy and an efficient plan for the execution of the same.
During the course of the year, financial and operational data are collected, forecasts are made and targets are set for growth. The targets set determine compensation metrics and provide an indication of how to move on the market.
The resulting budget is useful for establishing a resource allocation map for the next 12-18 months.
It is essential that information flows within processes and within the organization itself, so that everyone can understand their role in achieving goals.
For many leaders, execution becomes a complex challenge to face due, for example, to silos that are created within their organization. The dedicated strategic team and management create the plan, but the entire execution falls on the operations, which must continue to carry out the daily operational activities.
I’m sure the phrase “you can’t handle what you can’t measure” isn’t new to you.
And this is the key focus on which I want to focus attention: if you are not able to monitor the plan, there is a great chance of losing the necessary information, thus failing to measure progress with respect to business expectations.
So what can organizations do to improve strategy execution?
Having clearly defined the strategic initiatives, it is time to develop a plan to implement them, and then take action.
Most organisations have their own process for creating this plan, but unfortunately many fail to complete the implementation of the strategy.
According to research from the Harvard Business Review , only “20% of organizations achieve 80% or more of their strategic goals.”
That is why it becomes essential to introduce a system that is able to measure and monitor the progress and cross-organisational results that are closely linked to the objectives set.
The instrument in question should not only be able to simplify the collection of progress in general, but should allow visibility at several levels, selected according to the role assigned in the strategy execution.
In this way people can interact in a timely manner, removing any obstacles and bottlenecks before they derail the plan and strengthening the process of management and strategic execution.
An effective system, in fact, enables the management to intervene, correct, reorder or even terminate an initiative, when it does not work as planned, identifying what is or is not a triumph.
As technology stacks continue to grow, you tend to test and use what you already have first.
But if existing solutions such as Project Management, PPM, BI… allowed the execution of successful strategies, Gartnerwould never have carried out research dedicated to the tools that best fit this area
My Single Point is the solution dedicated to organizations that want to take initiatives out of the paper, in reality.
Often it is not possible to cross the finish line of the objectives set, as there is no way to manage and keep everyone on the correct path.
With My Single Point you can have a vision of activities, at every level, in real time, involving all stakeholders. This platform is able to connect the entire organization, from executive leadership to project teams.
Would you like to know more? Contact us .