ROLE OF EXECUTION IN STRATEGY PLANNING
Good execution requires a well built IT Management system, an organisational culture with the involvement of associates like the vendors etc.
For a successful Execution of strategy, one need to focus and prepare in advance with a clear goal that can be accomplished, measure your progress from time to time and be accountable for it.
Role of IT:
IT can do wonders for execution of strategy, especially in cross functional projects where “communication” can become an issue. Giving real time updates to functional heads makes sure that everyone is aligned and updated.
In order to ensure proper execution, monetisation is required from time to time.
Role of Culture:
The organisation’s culture is a major driving force in the execution of strategy. Culture is not “an end” in itself; rather a right alignment in the enterprise. Also, it makes sure that everyone is on the same page leading to an accurate execution.
How to set the culture of openness? – (The freedom to ask awkward questions, sharing knowledge/ information across all levels)
The top hierarchy always sets the culture of the organisation. Training programs are recommended for the senior management that can help reaffirm and reiterate the culture. Identify the key opportunities in one’s goal sheet and try and achieve those ones that give a ‘right to win’; even if it means over-investing in that particular goal.
Meetings to discuss strategy
Anyone who can contribute to the meeting must be a part of it. Timing and schedules of these meetings must be pre-set in order to save time. Penalty may be set for members who walk-in late (the spoils from the same can be donated to charity). There should be structured meetings with an agenda. Example – At Marico, we adhere to – WWW – Who will do What and by When. We also do not do presentations. Anything that needs to be discussed can simply be mailed two days in advance (it is assumed to be read by all.) Thereafter, we simply deliberate and discuss. We also have a 10 point checklist – this covers points like – did the meeting start in time; did all members make in time; was the previous agenda fulfilled etc. However, ideation sessions must be different from structured meetings where we can afford to digress, amble along or simply reflect.
To ensure proper execution of strategy have a task force. Take one person from each function and ask them to come up with a strategy document – competitor analysis, environment analysis etc. The task force at Marico has very high performing individuals, even at two levels down from the function heads. The task force must be cross functional. Else, hire a professional consultant to come up with a recommendation. But be sure to take one’s own judgment needs to know their market at its best. Strategy cannot not be executed till the obstacles in execution are eradicated; it’s recommended to treat the cause and not the effect. Example- When cross functional projects becomes difficult to run due to issues like jealousy, miscommunication amongst functional head. These issues can be discussed, however the chances of this happening again are high.
Following steps are advised:
- You must have the ability to identify what is wrong amongst the groups and the employees.
- If you are unable to, seek help from the HR head and diagnose the core problem.
- Relationships must be built/ bridged through casual meetings or group outings where the colleagues have the freedom to express their views on what they find negative in each other.
- These are managerial challenges, and must not be construed to be negatives.
To get the ‘outside in’ search for thought leaders in one’s industry and take their inputs and opinions. If one has access to them, make them a part of the enterprise and make sure that no one in the team feels insecure. The entire team must share the same excitement of having them on board.
Strategy must be followed but it can be amended if new opportunities crop up. Until and unless the right EXECUTION policy is adopted, all the strategies might fail; hence the crux is to apply one’s wisdom and planning in an efficient