Strategy Execution Cycle
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The document outlines a strategy execution cycle consisting of understand, translate, adapt, implement, measure steps. It emphasizes that effective execution starts with understanding both external factors like customer needs and internal strategy. The strategy then needs to be translated into specific aligned plans and goals. Implementation involves building capabilities, delivering on priorities while engaging stakeholders. Progress should be measured and information shared to create accountability. Plans also need to be adapted based on learning from experience and changing market conditions. Decision making and communication are important throughout the cycle.
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Strategy Execution Cycle
- 1. Strategy Execution Cycle © Insight Experience.
- 2. Strategy execution is a cycle, but leaders often skip key steps and jump to action. Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 3. Effective execution starts with understanding the strategy both externally and internally… Understand Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 4. » What is the strategy of the corporation (vertical strategy)? » What are the strategies of your functional and geographic peers (extended strategy)? » What do customers want? What are competitors doing? Understand Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 5. Translate The next step is to translate strategy into specific plans aligned across the organization. Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 6. Translate Understand TranslateAdapt ImplementMeasure » Develop aligned local goals and activities » Focus activities on highest priorities » Align and refine with extended stakeholders » Define success metrics © Insight Experience.
- 7. NOW you are ready to implement and move to action Implement Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 8. Implement » Build capabilities needed for execution (platforms, process, people) » Deliver against priorities » Engage stakeholders needed to deliver results Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 9. Measure What follows action is critical: measure and make information visible to all. Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 10. Measure » Monitor progress towards metrics » Share information broadly » Create cycle of accountability Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 11. Adapt Then be intentional: learn and adapt your plans and actions based on experience Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 12. Adapt » Anticipate changing priorities, emerging customer needs and shifting markets » Correct and adjust plans and activities » Engage extended stakeholders to understand what’s changing Understand TranslateAdapt ImplementMeasure © Insight Experience.
- 13. Making and explaining tough decisions is at the core of execution. © Insight Experience. Decision Making Understand TranslateAdapt ImplementMeasure
- 14. » Make thoughtful decisions » Weigh tradeoffs » Own the cycle © Insight Experience. Decision Making Understand TranslateAdapt ImplementMeasure
- 15. © Insight Experience. And constant communication is the glue through the cycle. Understand TranslateAdapt ImplementMeasure Communicate
- 16. © Insight Experience. » Be clear, consistent, engaging and specific in your communication » Let your passion show Understand TranslateAdapt ImplementMeasure Communicate
- 17. » Only 9% of managers say they can rely on colleagues and other functions all of the time (horizontal) [good news: 84% of managers say they can rely on their boss and direct reports for execution (vertical)] » Only 11% of leaders think their companies’ strategic priorities have the resources for success » Over 30% of managers believe their senior leaders are not aligned » Only 20% feel their organizations shift people across units to support strategy Source: Harvard Business Review, March 2015 A recent survey in Harvard Business Review includes disturbing data © Insight Experience.
- 18. » Understand and anticipate market needs » Understand strategy– vertical and horizontal » Build capabilities needed for execution (platforms, process, people) » Deliver against priorities » Engage stakeholders needed to deliver results » Monitor progress towards metrics » Create cycle of accountability » Anticipate market and organizational changes » Adjust plans as strategic priorities shift or market needs change » Translate strategy into aligned local goals and activities » Focus activities on highest priorities » Align and refine with extended stakeholders » Define success metrics Strategy Execution is a process… don’t focus on just one step. Understand TranslateAdapt ImplementMeasure © Insight Experience. Decision Making
- 19. www.insight-experience.com 152 Commonwealth Avenue Concord, MA 01742 978-369-0639 INSIGHT EXPERIENCE info@insight-experience.com @InsightXP © Insight Experience.