strategyexecutionNov2015
- 1. Executing on Strategy Strategy in Action - Strategy Execution
- 2. 1. the importance of the practice of execution and how it is so often neglected and forgotten, 2. the 3 most important themes in successful strategy execution - hearts, minds and hands 3. …….and the traps that you can fall into on the long execution road Strategy Execution – to cover today Strategy in Action - Strategy Execution
- 3. “However beautiful the strategy, you should occasionally look at the results” – Sir Winston Churchill Strategy in Action - Strategy Execution
- 4. • Strategy execution is several processes • A “team sport” • A specific execution skill set • Time dependent • Short and Long term thinking What is Strategy Execution? Strategy in Action - Strategy Execution
- 5. • 88% of senior execs acknowledge importance of execution and 61% say they struggle with it (The Economist) • 55% of execs say their company is “not focused on executing strategy (PwC) • APAC lags other regions in usage rates of strategic tools (Bain & Co) • One third of companies realise <50% of their financial promise (HBR) • Cooperation, communication, coaching and training lacking in important areas (HRI) Strategy Execution Facts Strategy in Action - Strategy Execution
- 6. Execution is a specific set of behaviours and techniques that companies need to master in order to have competitive advantage. It’s a discipline of its own.” Ram Charn and Larry Bossidy Strategy in Action - Strategy Execution • 65% of companies that invest in execution report better financial performance than their peers (The Economist)
- 7. 1. How do I make people care about my idea enough that they are willing to figure out how they can contribute to it’s success? 2. How do I make others aware of what the idea is about – aware enough that they can make autonomous decisions that positively impact success? 3. How do I keep my people moving along and energise them to keep going down the execution path, even if I am not around? Alcoa’s Success = 3 questions Strategy in Action - Strategy Execution Source : jeroen-de-flander.com
- 8. Anon’s Success = Contributing and Belonging Strategy in Action - Strategy Execution Source: UGM Consulting
- 9. Successful Strategies need People Strategy in Action - Strategy Execution
- 10. 1. Make people care 2. Keep people focused 3. Make the decisioning process clear 4. Simplify things 5. Tell stories 6. Get involved 7. Educate others 7 things to do… Strategy in Action - Strategy Execution Source : jeroen-de-flander.com
- 11. 1. Just because everyone is busy executing, doesn’t mean the business is ALIGNED Lessons I have learned Strategy in Action - Strategy Execution Source : theperformancefactory
- 12. When “Yes” means “No” Strategy in Action - Strategy Execution Just because someone said yes to you doesn’t mean something is going to happen. Most of the “yeses” we get are “noes” in disguise”
- 13. 1. Just because everyone is busy executing, doesn’t mean the business is ALIGNED 2. Good execution doesn’t necessarily mean you stick to a plan Lessons I have learned Strategy in Action - Strategy Execution Source : theperformancefactory
- 14. 1. Just because everyone is busy executing, doesn’t mean the business is ALIGNED 2. Good execution doesn’t necessarily mean you stick to a plan 3. Don’t make the mistake of thinking that COMMUNICATION has lead to UNDERSTANDING Lessons I have learned Strategy in Action - Strategy Execution Source : theperformancefactory
- 15. 1. Just because everyone is busy executing, doesn’t mean the business is ALIGNED 2. Good execution doesn’t necessarily mean you stick to a plan 3. Don’t make the mistake of thinking that COMMUNICATION has lead to UNDERSTANDING 4. Don’t confuse a performance culture with an execution culture Lessons I have learned Strategy in Action - Strategy Execution Source : theperformancefactory
- 16. Strategy in Action - Strategy Execution How are you rewarding your high-performers?
- 17. 1. Just because everyone is busy executing, doesn’t mean the business is ALIGNED 2. Good execution doesn’t necessarily mean you stick to a plan 3. Don’t make the mistake of thinking that COMMUNICATION has lead to UNDERSTANDING 4. Don’t confuse a performance culture with an execution culture 5. Poor execution is not necessarily poor executive leadership Lessons I have learned Strategy in Action - Strategy Execution Source : theperformancefactory
- 18. • You need a “strategy” for executing your strategy and it involves engaging a lot of people • Use all the best practices you have available as well as some psychology and neuroscience • DO NOT create/write your strategy alone • Try to keep communication simple! Tips for good strategy and execution Strategy in Action - Strategy Execution
- 19. A simple execution model…. Strategy in Action - Strategy Execution Source:Jeroen-De-Flander.com
- 20. ‘Strategy is only as good as the execution behind it,’ (COO of the LEGO Group, Bali Padda, Forbes). LEGO unseated Ferrari this year when it topped the 2015 global ranking of the world’s most powerful brands Strategy in Action - Strategy Execution
- 21. Questions?