Strategy Execution: A Competitive Differentiator
The Secrets to Successful Strategy Execution: Orchestrating Winning Strategy Execution and Drive Business Performance
Making your strategy work by overcoming the barriers to execution
A well-formulated business strategy, powerful product or breakthrough innovation can put an organization on the competitive map, but only sustained strategy execution can assure long-term success. However, navigating from strategy development to execution is one of the biggest challenges for today’s leading CEOs and few are successful. An Economist survey found that a discouraging 57 percent of firms failed to efficiently execute strategic initiatives over the past three years.
Strategy Execution Journeys Maximize the Value of any Business Strategy
A brilliant strategy, blockbuster product, or breakthrough technology can put you on the competitive map, but only solid execution can keep you there. Strategy execution is not the result of a solitary employee decision or action, but the consequence of a series of coordinated, enterprise-wide decisions and actions occurring over time. It is comprehensive and must bring the people in the organization along for the ride. Execution may start at the top of the organization but must cascade down to be successful. Traditional approaches to execution typically involve one-way information flows from senior leaders to lower levels in the organization: town hall meetings, blogs, PowerPoint presentations, or off-site events.
However, these events fail to drive the necessary organizational alignment, mindset and capabilities needed to achieve effective execution and business results. Not surprisingly, a five-year Harvard Business Review study, involving 125,000 executives representing more than 1,000 companies from 50 countries, found that employees at three out of every five companies considered their organization weak at execution. Without significant organization involvement, a strategy that sounded good in principle begins to dissipate and move in 1,001 different directions. Even the most promising business strategies can be unsuccessful.
- Understand the Critical Components for Superior Strategy Execution
- Determine Execution Readiness: A diagnostic tool determines execution readiness at multiple levels of the organization and indicates gaps and opportunities.
- Defining Strategic Alignment – Employees need to clearly understand their company’s strategic direction and priorities.
- Changing Mindset – Successful execution requires collaboration and commitment. To accelerate execution, individuals need to be engaged and passionate about the strategy.
- Connecting the strategy to personal success is critical.
- Defining Capability – Companies that excel in execution invest heavily in building the skills and capabilities necessary for execution. These include but are not limited to business acumen, leadership, sales and project management.
- Mapping the Execution Journey: Create the Execution Acceleration Process for high-impact Results
- Start from the beginning: The Compass – what do we do and why
- What is our “business”, and Why do we choose this “business”?
- What is our vision, and how do we ACHIEVE the vision?
- The need for Strategies and plans
- From Vision to execution: the elements and steps
- Practical Tools and Techniques for implementation
- The Value Curve: how do we add value and define success
- Workshop on Value Curve
- SWOT Analysis incorporating PESTEL factors
- Definition and workshop in the local context and opportunities
- Stakeholders Management
- Managing partnerships
- The Value Curve: how do we add value and define success
- Putting it all together
- Systematized the Execution plan and strategy
- The use of Project Management approach
- Performance measurement and Key Performance Indicators (KPIs)
- How to ensure the effort would come to fruition, thereby avoiding the “busy bees, no honey” syndrome?
Who Will Benefit Most
- Management (up and coming, and established) and above
- General managers who head business units, e.g. country managers, or product or division heads Executives with accountability for outcome and direct control of significant resources (budgets and groups of people), e.g. heads of business units, managers of significant departments or leaders of major project teams.
“Straight to the point and comprehensive in his training. There are lots of discussions and room for clarifications with Andrew and with fellow participants to understand topics and learn how to apply the knowledge in the workplace.”
“Andrew always uses a lot of real life examples to put across the key concepts.”
“The trainer Andrew has many life experiences to share related to the training and kept his teaching very interesting and memorable.”
Andrew Cheah has been a trainer and management consultant since 1991, specialising in the areas of performance management, productivity improvement, behavioural change and leadership. Andrew has trained clients from diverse industries such as in banking, insurance, hospitality, sales and distribution, manufacturing, food, property development, government/public services, and higher education. Being tri-lingual (English, Mandarin, and Malay Languages), Andrew has extensive regional exposure in Singapore, United Arab Emirates, Malaysia, China, Thailand, Indonesia and Vietnam. In addition to training, Andrew has guided and provided consulting services to clients, leading to one of them winning the prestigious Malaysian National Productivity Award presented by the previous Malaysian Prime Minister, Tun Dr. Mahathir.
Andrew has also been invited to speak in events such as International Conference on Best Practices, which was graced by senior officials from the Ministry of International Trade and Industry (MITI), sharing the stage with Professor Michael Gregory of the University of Cambridge, Mr Dieter Heyl (2007 Vice President of Mercedes Benz Malaysia), and Dr Marcus Chao, President of Lean China Enterprise Inc.
Andrew has an MBA degree qualification with the University of Portsmouth, UK. At the professional level, Andrew has a certificate in Blue Ocean Leadership Masterclass, as well as Leading Dimensions Profiling Trainer Certification (LDP certified). In addition to being a qualified ISO9000 assessor, his experience in international consultancy has also earned him a membership with the Association of Productivity Specialist in New York.