Strategy ExecutionKnowledge Center |
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Definition Strategy Execution?Strategy implementation is the part of strategic management that deals with the managerial exercise of supervising the ongoing pursuit of strategy, making it work, improving the competence with which it is executed, and showing measurable progress in achieving the targeted results. According to some people, Strategy Execution is more important for the success of any firm than the actual strategic choices that are made. Perhaps the traditional distinction between top level managers formulating the strategy and the lower levels implementing the strategy should be abandoned, and the key to good strategy execution is getting the executors to participate and think out of the box or out of their normal working mode. Leading the drive for good strategy execution calls for several actions on part of the managers in charge:
In an HBR article (June 2008, p. 61-70), Gary L. Neilson, Karla L. Martin and Elizabeth Powers from Booz & Company report some interesting findings from a large scale internet assessment. The 4 inextricably linked things that turn out to matter most to successful strategy execution are:
The authors recommend to start the strategy execution process with clarifying the decision rights and improving the information flow. Then the right organizational structures and motivators will tend to fall into place.
Compare also: Change Management Iceberg | Appreciative Inquiry | Management By Objectives | Strategic Management |
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