Strategic Execution: Generating Maximum Value
Leadership. One word but with so much meaning. In this newsletter series we have shared thoughts about how to be a leader, what the duties of a leader are, and tools a leader needs to be effective. However, when the smoke clears, a leader must have added value to the organization.
Many different sources will tell you that strategic execution is the most difficult part of strategic leadership.
- An IBM survey reports that of those CEO’s that report their strategic plan was not achieved, they cite the failure to implement as the cause.
- In Beyond the Core, a book by Chris Zook, strategy practice leader at Bain & Company, declares that only 25% of investments in growth initiatives add value to the organization.
- An HBR article states that only 67% of strategic plan forecasts are realized. The most common reasons for losing a third of a plan’s value? Failure to reallocate resources in alignment with strategy and communication breakdowns.
Having a clear vision is key. We must know the destination we are trying to lead our teams to reach. Being able to lead them there, overcoming obstacles, getting the best contribution from every member of the team, each who is wired differently, getting the team to accomplish together something they couldn’t alone…those are the hallmarks of leadership.
So how does a leader succeed in strategic implementation? {+}Unfortunately, many people look for the silver bullet and there are none. From my experience, leaders succeed because they believe in their mission and they refuse to fail. Their passion, often shared with relevant stories, ignites the excitement of the team. The team determines how each member can contribute in ways that leverage their unique skills. The leader provides constant reminders of what success looks like and celebrates early wins, and when the team runs into roadblocks—and they undoubtedly will—the leader continues to find a way to inspire them to overcome by reminding them of the excitement they will feel when they achieve what they started.
Study after study shows that the number one thing employees want is to understand what is expected of them and feel valued. As a leader, ask yourself, once you have lit the candle and shined the light on the vision, how many times do you light the candle of your team and let them bask in the warm glow…
Yes, it is possibly an oversimplification, but the most effective things usually are simple. When you break it all down there are four key things involved in successful strategic implementation:
- Make an inspiring case for your vision that motivates the team
- Be clear about what is needed from each team member
- Allocate appropriate resources to get the job done
- Shine the light on each team member and remind them of their value to the project
Reynolds Consulting, LLC is an expert at helping leaders become effective implementation experts. Email Margaret Reynolds at mreynolds@reynolds-consulting.com.
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