What is Strategy Execution?
While initiative management and strategy execution go hand in hand, some other factors
also come into play.
According to research, the following key factors largely influence an
organization’s strategy execution:
• Internal communication of the strategy
• Translation of projects into day-to-day tasks
• Performance review of daily tasks
• Weekly review of the strategic objectives
Basic Routine for Strategy Execution
Now that you know about the key necessities of effective strategy steering and
management let’s discuss the basic routines for boosting your corporate performance to
ensure strategy execution.
Here’s something devised by Board View.
1. Sprint Zero: In Sprint Zero, you set the company’s objectives.
2. Sprint One: Here’s when you select the priority goals and set them according to
SMART.
3. Weekly Update: Now is the time to work towards your goals and monitor them
accordingly.
Sprint Zero
The first step involves sitting with your team and coming up with a plan that everyone
agrees on. You could do this with a few sticky notes and a conference room.
Create a strategy for the company that compromises smaller goals adding up to the larger
objectives - a Goal Tree
Here are some of the benefits of a Goal Tree:
• It shows how your everyday tasks will contribute to the execution of the bigger
strategic goals.
• A Goal Tree shows every person in the company what their possible role could be and
how they can contribute to the overall strategy execution.
• It helps make the strategy execution process logical and more streamlined.
At the first level of the Goal Tree, you should have the big goals. On the second, lower
tier, keep your team-lead objectives. Assign the second-level goals to different teams or
departments in the company. In the end, closer to the trunk is where the individual goals will be.
Sprint One
Conduct a workshop with the whole team and put the following things on the agenda:
• Selecting the short-term goals, like things you can do the very same day as the
workshop.
• Setting the goal status to ‘active’ if you’ve planned to execute it immediately.
• Staying realistic. Don’t overwork or underwork your team. Executing two to three goals
at once is often considered effective.
• Choosing a Key Performance indicator to measure the teams’ progress.
• Going through the list of tasks and choosing the ones to be accomplished the present
week.
Weekly Update
After a week, hold another meeting and check how well everyone has done in terms of
strategy execution. Once you do this for a few weeks, the meetings will get shorter, but the
results will be quicker and more efficient.
Here are some rules to make the meetings a success:
• Every attendee should speak for three minutes.
• The meeting will be at the same time and day every week.
• Keep the goals displayed on a board or a screen in front of the attendees.
• Do not interrupt anyone during the meeting. Help them afterward.
• Every attendee should speak of their successes and obstacles for the past week. Plus,
they should discuss the next week’s tasks.
• Make sure everyone is assigned a task for the week.
To motivate your team and show them that their contribution is making a difference, send
them infographics depicting the results for every week. Following this routine will help you stay on track and always keep strategy execution the top-most priority in the company.