Business, Strategy and Execution
Every business aims to develop a good strategy and execute that strategy well. But many times it is found that it was either a good strategy, bad execution or bad strategy and good execution. Can this be avoided?
What is a strategy? In simple terms, it means the plan to achieve the desired goals or results. If any organization has well defined goals, and can develop a strategy to achieve them, it should be half the battle won. But it is seen that execution fails. The reason for failure is often unknown factors that unexpectedly or unknowingly creep in while executing the plan.
Ideally, the leader and/or the team that forms the strategy should consider such factors: as who are the people who will execute, does the company have the capacity to execute, what if any unexpected changes or events occur while executing, what are the risks involved, and so on. No strategy can be created without taking into account the ability of the people who will be executing it. Similar to sports, the team may create a great marketing plan but if the marketing team fails to understand and execute the game, it is bound to fail and then the blame game begins.
The problem is expertise, if you are a good coach or visionary and not a good executor, then the bad in you will prevail. One suggestion - how about creating a strategy and keep the execution team (players) in the loop throughout the process of creating strategy?
Before complications arise and the complexities increase., the best solution for top management is to set goals and discuss them with every one. After getting a commitment from all involved, create strategies and let everyone participate in the formation of the plan. Discuss what is achievable and why you believe it can be accomplished. Let the team that will execute commit to the mission. The synergy between the strategy makers and the executors will ultimately decide the final outcome and the rewards will be worth all of the effort.
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