The key difference between a successful strategy, and an unsuccessful one, is that the former is implemented.
That simplistic statement does little to acknowledge the challenges in the implementation process.
The purpose of this post is to offer a few observations and recommendations that come from extensive experience, and the mistakes that go with that experience for you to consider.
Two essentials for a successful implementation.
- What and Why. What you are doing and why, should be clear to everyone at every level in the organisation. When the bottom of the organisational pyramid has no idea of the role they play, and how that role fits in and complements others, the strategy is doomed.
- Performance management. Performance feedback loops at all levels and importantly across functions are essential. This requires both good communication, and the processes by which the people in the organisation can learn from mistakes, and adjust processes to avoid repeating the same ones.
In addition, following are 4 observations that may be useful, in no particular order.
- Sunk cost avoidance. Being prepared to recognise early when something is not working, being willing and able to acknowledge the misstep, and back away is a key component to the process of improving the productivity of the resources deployed. This is equally applicable to the detailed operational levels as it is to the executive suite, and requires that ego be left at the door. I have seen this called a ‘batwing’ mentality, like the batwing doors in a western saloon. When you walk through and it is welcoming, keep walking, but when it seems to be filled with gun fighters, back out quickly. Such a culture enables experimentation, and the devolution of decision making to those on the ‘front line’ of any decision, enabling a positive and productive work environment.
- Matryoshka doll. Implementing strategy successfully always reminds me of those Russian dolls that fit inside each other, smallest to the largest. Successful strategy implementation similarly has smaller pieces fitting progressively inside the larger, next level up. While it does not cover the cross functional requirement for strategic success, it has proven to be a useful metaphor.
- Rolling performance management. It is getting harder and harder to forecast anything, the longer the time frame, the more suspect any forecast becomes. The answer is to be focused on the strategic objective, while managing progress towards that objective on a rolling basis, making tactical adjustments based on the context and learning that happens on a continuous basis. This runs counter to the prevailing practise of managing to annual budgets, so creates the need for leadership in the place of management.
- People. Finally, while we are running businesses, the real game is all about people. The way to engage with people is with stories, so ensure that your story is clear, engaging, and known by all employees so they can repeat it, with commitment, at every opportunity.
How can I bring the experience of the years to your challenges? Just give me a call.
Header credit: Tom Fishburne at Marketoonist.com. Again.
