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Moving Beyond The Strategic Plan
- 1. Moving Beyond the Strategic Plan Avoiding the Worst Strategy Execution Mistakes © 2011 HandScribe, LLC. All Rights Reserved.
- 2. Pre-Test: Does Your Strategic Plan… Account for the current environment? Prioritize goals/ outcomes? Include measurable outcomes for each goal? Include initiatives with detailed operational plans to achieve each goal? Link desired outcomesto employee & officer goals?
- 3. Gauging Implementation Capacity Do you have a Strategy Management Methodology? Can employees describe how they canimpact current company goals? Does the company have skills, resources and funds needed to execute? Do budgets link to company strategy? Do goal targets account for seasonal variations? Have you secured participation of keypartners/ suppliers for the outcomesthey can affect?
- 4. Mistake #1: Wrong Time to Launch Too Soon/ Too Late What could go wrong? How to prevent it Step 1 – Environment/ Conditions Step 2 – Build Urgency Step 3 – Ensure Capacity (resource barriers) Step 4 – Create Alignment (incentives/ strategy)
- 5. Q: When to Implement? Do You Have a Theory of Execution?Narrative of the Journey from Start to Finish Challenges Identified Goals Agreed & Prioritized Initiatives Planned Performance Measures Accountability Established
- 6. Mistake #2: Poorly Defined Goals Boldness; Accountability; Attainability What could go wrong? How to prevent it Step 1 – Being SMART Step 2 – Eliminate Barriers Management Resources Step 3 – Linkages Groups Individuals
- 7. Q: How SMART is smart enough? S – Specific M – Measureable A – Attainable R – Results Oriented T – Time Bound
- 8. Mistake #3: Withholding the Vision Goals not known or agreed What could go wrong? How to prevent it? (shared vision) Step 1: Knowledge Step 2: Engagement Step 3: Empowerment Step 4: Measurement & Reward
- 9. Q: How Much to Share? Enough that all employees can describe: What The Company Is Doing Why It Matters How They Can Help Communication Repetition Rallying Cry
- 10. Mistake #4: Losing Focus Declaring victory, or defeat, too soon What could go wrong? How to prevent it? self-sustaining execution Step 1 – Rallying cry Step 2 – Frequent wins Step 3 – Consolidating gains Step 4 – Frequent ongoing strategy review
- 11. Q: How to Build In Sustainability Set Incremental Targets Common Approach Increase CS by 8% in 2 years Better Approach Increase CS by 1% every 3 months Celebrate Wins Consolidate Gains
- 12. Questions Need help executing your strategy right now? Go to: handscribe.com/about/contact