Strategy – It is all about the implementation
The best business strategy is of no use to a business if it is not implemented properly.
The execution of a strategy can go wrong for a variety of reasons, one of the most basic mistakes may be failing to allow the strategy to evolve over time. The business world doesn’t stand still and is constantly changing. As such, your strategy should be allowed to evolve too. That’s not to say that it should be re-written every week, but there should be scope to tweak things and to respond to new opportunities when they arise in order to keep the business moving towards its overall objective.
Good strategy execution requires a good business plan. The business plan should facilitate coordination of objectives across the business, while mitigating risk and minimising bottlenecks. Your plan should enable your whole team to set priorities and realistic deadlines. This allows the whole business to have a joined up approach. You don’t want to end up in a situation where one department is moving in a different direction to the rest of the business.
Roles, responsibilities and expectations need to be clear from the start. If people don’t understand what is expected of them, or what part they play in the execution of the strategy and plan it can be very difficult to get things done. Communication is key and managers should ensure that their team members have a clear understanding of their individual objectives, deadlines, etc. The directors of the business need to make themselves available to their team so that there is ongoing communication around management of objectives, deliverables, etc.
Executing a strategy often involves change. You cannot expect people to change the way they work overnight many will have developed habits that will take time and encouragement to change. However, you can start by communicating what it is you need them to do differently and why you need them to do this. If your team understand the strategy of the business and the part that they can play in helping the business to succeed, they are more likely to implement the changes.
You should celebrate the successes as you achieve each milestone of your business strategy. If your team feel that they are part of a business that is “winning”, they are more likely to buy into the vision and strategy of the business.
Leonherman has many years of experience working with entrepreneurs and owner-managed businesses; we work with you to ensure you stay on track and have clear goals in place get in touch or call 0161 249 5040