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Strategy Execution and Review
Strategies are one of the top priorities for executives in the modern world. Management studies show that the topic is number 1 or 2 on executive readings and on practices that are searched for. We can only concur that strategy is of the essence for defining the organizations development, differentiation and resource allocation for the best outcome. However, shareholders often want to understand the strategy but are still much more interested in the results.
Shareholders want to see net cash in their hands whereas employees want to see their bonuses in their personal accounts, suppliers want to see the growth of the business and the development of the demand for their products, citizens and public authorities want to see the growth and possibly tax contribution for the local communities and agencies. Strategy has to be managed and executed, but is also confronted with many day-to-day difficulties in order to reach the final goals and the desired tangible results.
One of the most important factors of success is linking a strategy to your day-to-day operations and allocating the right resources to drive the desired organizations output in the short run and at the same time allocating the same resources or part of the resources for long term asset development and sustainable results. This often means linking rolling forecast and budgets to strategy to ensure optimization of resources and following through on strategic initiatives, business cases and goals. Strategic Initiatives often result in transformational projects on business processes. But organizations do not always embrace these initiatives because many internal and external factors have an impact on them. Transformation is something that has to be managedclosely.
Strategy Execution means linking strategy to operations but also means to manage outcomes, take corrective actions and learn from it through strategy review sessions.
Strategy review sessions close the loop and help the continuous optimization of strategy implementation. By turning Strategy Execution into a continuous process,any company can reach their desired goals with the optimal use of resources.
Strategy Execution will mean: Continuously managing resources to maximize results for stakeholders with a limited use of resources. It wontt be a straight path to success, but the Collaborative can guide you through this process!
For more information, please contact our competence expert Mathias Mangels.