Expedite Exceptional Execution of Your Strategic Plan
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The document discusses the importance of strategically executing organizational plans and highlights the common challenges faced by leadership in bridging the gap between strategy creation and implementation. It notes that effective communication and alignment of goals are crucial, alongside the need for specific leadership competencies at various stages of strategic management. Additionally, it provides statistics on the poor execution rates of strategies across organizations and proposes methods to improve alignment and execution effectiveness.
Expedite Exceptional Execution of Your Strategic Plan
- 1. Expedite Exceptional Execution of Your Strategic Plan Training Industry Conference & Expo (TICE) June 2019
- 2. A Strategic Plan Is A set of priorities that drives leadership to: focus energy and resources strengthen operations ensure that employees and other stakeholders are working toward common goals establish agreement around intended outcomes/results assess and adjust the organization's direction in response to a changing environment 2Source: https://www.balancedscorecard.org/BSC-Basics/Strategic-Planning-Basics
- 3. Raise Your Hand If You • Are aware that your organization has a strategic plan • Have read the strategic plan for your organization • Have discussed the strategic plan with your direct supervisor and/or team • Understand the strategic plan and how what you do every day helps to achieve strategic initiatives 3
- 4. 4 You are not alone! If you didn’t raise your hand at all or had to put it down for any of those questions
- 5. 5 At least not according to these statistics…
- 6. 6 Statistic Sources: 1 https://www.sixdisciplines.com/thesixdisciplinesblog/strategy-execution-the-scary-statistics 2 http://www.org-synergies.com/Strategy%20Execution%20Paper3.pdf 3 https://www.sixdisciplines.com/thesixdisciplinesblog/strategy-execution-the-scary-statistics 85% of leadership teams spend LESS than 1 hour per month discussing strategy1 Just 42% of managers and 27% of staff have access to the strategic plan2 95% of staff do not understand the strategy of the organization3 Communication
- 7. Communication May Create… Alignment: List 1 or 2 examples of when you have experienced alignment between what leaders SAY is important and what they DO 7 Misalignment: List 1 or 2 examples of disconnects between what you hear leaders SAY is important and what you see or experience that they DO
- 8. 8 We believe in respectfully working together to achieve goals. But it’s the raving lunatics that get promoted!Alignment Misalignment
- 9. There is Hope! Aligning efforts towards a common goal has positive impact! 9 Especially when it helps to eliminate undesirable behaviors!
- 10. Alignment Requires Competent Leadership Leaders focused on alignment: • Ensure a strong connection among the organization’s mission and its operational resources • Fine tune departmental goals and objectives and discover implementation gaps • Address issues that may exist around internal efficiencies and effectiveness 10
- 11. Leadership Competencies Bridge the Gap 61% of leaders admit they struggle to bridge the gap between creating the strategy and implementing it. In other words, the leadership competencies needed to execute the plan may be different (and more challenging) than those used to create the plan. 11Statistic Source: http://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/why-good-strategies-fail-report.pdf
- 12. Which Competencies are Needed to Create the Plan? 12 Assess • Identify Strategic Issues • Complete SWOT Analysis • Scan the Environment (External / Internal) Design • Determine Unique Advantage • Identify Strategies & Objectives • Develop Financial Projections • Create Vision, Mission, Values Build • Determine Priorities • Set Organizational Goals • Identify and track Key Performance Indicators • Develop Cascading Goals (Dept. & Individual) • Establish Budget
- 13. Which Competencies are Needed to Execute the Plan? 13 Manage • Communicate the plan • Allocate appropriate resources • Eliminate obstacles to achievement • Review the plan regularly and adapt or update as needed • Ensure leaders and staff possess the right skills and knowledge to implement the plan
- 14. Group Discussion • How are the competencies needed to create a strategic plan different from those needed to execute and manage the plan? • How does your current leadership development effort support the transition from plan creation to plan execution? • How might you educate your leadership on the need to expedite execution? 14
- 15. 15 Need help convincing leaders that leadership development efforts will help them expedite execution of their strategic plan?
- 16. The Stats are with You Less than 10% of all organizations successfully execute their strategy because they fail to communicate and live the strategy. 16 How Strategy is Created How Strategy is Lived How Strategy is Communicated Strategic Success Statistic Source: https://www.forbes.com/sites/larrymyler/2012/10/16/strategy-101-its-all-about-alignment/#3a9a9fb128cf
- 17. The Stats are with You 17 76% of successful companies focus on a limited number of strategic initiatives at a time. 30% of leaders say their single greatest challenge in executing is failure to coordinate across functional units. Statistic Sources: Norton, David P. "Strategy Execution, A Competency that Creates Competitive Advantage." Palladium Group Whitepaper (2007): 1-7 https://hbr.org/2015/03/why-strategy-execution-unravelsand-what-to-do-about-it
- 18. The Stats are with You 64% of successful companies build their budget based on the strategy, not how much they spent last year. Compensation for 70% of managers and more than 90% of frontline staff is not linked to the strategy. 18 Statistic Sources: Norton, David P. "Strategy Execution, A Competency that Creates Competitive Advantage." Palladium Group Whitepaper (2007): 1-7 https://www.sixdisciplines.com/thesixdisciplinesblog/strategy-execution-the-scary-statistics
- 19. Eight Execution Expediters 19 DISCUSS the plan frequently FOCUS on what’s achievable now IMPLEMENT the right things COLLABORATE across functional areas EDUCATE and build understanding SHARE widely and transparently LINK compensation to the plan BUILD a strategic budget
- 20. LACE: Weaving Leadership Competencies to Plan Execution •Link • Budget to strategy (not past performance) • Compensation to strategy •Allocate resources • Strategy vs. operations • Time, people, $ •Communicate & Collaborate • Discuss strategy frequently • Widely share the strategic plan • Collaborate across functional boundaries •Educate 20
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- 22. A True Partnership Our mission is to drive performance in the learning and development community by connecting the right talent with the right opportunity. • Custom learning solutions • Staff augmentation • Employee development • IT & advanced technologies 22 A distinctive performance improvement company with a mission to inspire adaptable, people-driven organizations to succeed in shifting environments through better thinking. • Leadership development • Strategic & cultural alignment • Change management • Operational distinction
- 23. Potential Leadership Competencies Needed at Each Phase 23 Assess •Enhanced communication •Open-mindedness •Self-awareness •Social awareness •Critical thinking •Understanding and leveraging data and statistics •Financial acumen •Creative thinking •Listening skills •Transparency •Effective coordination •Diversity & inclusion Design •Assess plus… •Vision •Strategic thinking •Creative thinking / innovation •Systems thinking •Collaboration skills •Decision making •Team building •Transparency •Diplomacy •Influence •Conflict management •Priority setting •Optimism Build •Assess, Design, plus… •Goal setting •Financial acumen •Delegation •Empowerment •Humility •Action-orientation Manage •Communications •Action-oriented •Conflict management •Transparency •Creative thinking •Influence •Agility/adaptability •Enabling and inspiring others •Commitment & passion •Accountability •Failure management •Resilience •Persistence •Problem solving •Priority management •Coordination •Resource allocation •Realism •Project management •CHANGE MANAGEMENT
- 24. Potential Leadership Competencies Needed at Each Phase 24 Assess Design Build Manage