Last week, one of my clients mentioned that to ensure 2020 strategies are successful, they are focusing on strategy implementation. I thought that was a laudable goal. In today’s intensely competitive business environment, and increasing speed of technology-enabled change, the importance of strategy implementation has grown exponentially.
What do you think is very important for my clients and any other businesses around, to ensure that their business strategies do not fail?
The answer is, Bridging the gap between strategy formulation and their day-to-day Implementation.
Your Business Strategy will fail if:
- Business models(structure) not aligned with the strategy.
- Leadership buy-in and their support are missing.
- It is failing to deploy or lack personnel with prerequisite business and leadership skills.
- It is neglecting prioritizing initiatives and allocation of resources.
- There is a lack of robust processes and systems.
Hence, a senior executive must recognize that strategy implementation is fundamental to competitiveness. C-suite must provide appropriate resources, training, prioritization, and attention. Give strategy implementation the importance it deserves.
As said by Lawrence Hrebiniak, Professor Emeritus, Department of Management, The Wharton School of the University of Pennsylvania,
❛❛ It should not be a question of developing a strategy and hoping it works, but of developing a strategy and following a logical plan to reach it. ❜❜
Kiran Mann, Exec MBA, is President of M2M Business Solutions Inc., a boutique firm focused on “Growing People, Growing Business. “With an automotive manufacturing background, she is passionate about bringing solutions to day to day business fires. As the founder of M2M, she has created customized training programs and workshops to cater to industry-specific and client needs to develop leaders in business and life. Kiran is an expert on leadership, team building, time management, email etiquette, conflict, retention, customer experience and change.She is a keynote & guest speaker on topics of “Leading & Responding to Change in constantly Disruptive & Innovative Environment,” “Turning your Managers into Leaders,” and “Customer Experience, Customer-Centric Strategy.”M2M is a proud representative of an award-winning Crestcom’s Leadership Skills Development Program, “The Bullet Proof Manager.”