As follow up to our earlier Quick Tips Blog on Strategic Planning for Strategic Growth (1/21/10), following are tips to help you with the most challenging and usually the highest risk for failure in strategy work: implementation (also referred to as execution).
Strategic formulation, that is alignment and planning, is the starting point, and implementation (or execution) is where most good intending companies fail.
Once you are clear and aligned in your strategic direction (that is, have agreed upon your key strategic goals), you must identify what is the best way to get you there; in other words, what’s the plan? The plan should take into account what is already working, what is not, and what needs to be done to achieve the strategic goal(s).
We offer 9 activities to create an implementation plan:
First, prioritize the strategic goals to drive focus and align efforts/energies
Second, create an implementation plan for each of the strategic goals chosen for implementation. Implementation planning worksheets should be completed for each strategic goal, which establishes a common document for team awareness and monitoring and can ultimately be used as a frame-up for an annual work plan.
Third, define specific tactics or actions that must be taken to achieve the strategic goal
Fourth, assign accountability (i.e. a defined person as the lead who is responsible for insuring that the plan is implemented)
Fifth, define success measures (metrics) for each tactic in the implementation plan
Sixth, estimate the cost to achieve each specific tactic
Seventh, assign a target date for completion of each tactic
Eighth, meet regularly (at least quarterly) to review progress, celebrate success and determine necessary course correction (including opportunistic events that may have since emerged)
Ninth, hold the person responsible accountable.
Implementation planning is critical to successfully achieving the goals, aspirations and growth strategies identified, and planned for, in the strategic process. Failing to implement is like buying and new car and losing the key. It’s nice to look at, but it doesn’t get you where you want to go.
Copyright 2010 Kubica and LaForest
