Friday, 4 September 2020

Best Way To Implement Your Business Strategy Successfully

Business Strategy
The creation of a strategic plan is structured along several axes that define the growth of your business. It is defined by the act of determining the fundamental long-term goals and objectives, setting up actions, and allocating the resources necessary to achieve these goals.

As you can see, this exercise requires considerable time and effort since it establishes the broad directions of your business. Whether you are a manager or employee of an SME or a large company, the strategic plan allows you to have an overview of the development you want to bring to your organization.

Having a strategic plan is not enough; it is essential to keep it alive. For that, an organization needs tools, places, and times in order to follow the progress of its strategy and to make it evolve. Over the years, the advisors of the Dancause Group have developed an innovative and specific method in order to bring this strategic implementation so essential to the growth of your business to life.

The Strategic Implementation Committee:

To succeed in making your plan tangible, you have to be able to create what we at Dancause call a strategic movement.

We're talking about a way to generate operational change and effectively achieve an organizational vision. To achieve this and to avoid the challenges frequently encountered during this stage, the establishment of a strategic implementation committee (CMOS) becomes an essential means.

This is a group responsible for steering and monitoring the strategy. It is made up of the leaders who have taken charge of the implementation of the plan. Its objective is to establish and coordinate the stages of its realization. The best strategies and the best expertise cannot succeed without follow-up. The complexity and speed of operations, as well as the pace of change, require the presence of a coaching process that ensures consistency of organizational vision. By planning meetings, structuring development stages and discussions, this operational governance aims to:

  • Develop the implementation process;
  • give a rhythm of realization to your plan;
  • ensure that the organization focuses its efforts on strategic orientations, objectives and means to prioritize;
  • establish the stages of realization of the strategic plan and coordinate planning efforts;
  • periodically update the strategies put in place.

Do you really understand your business strategy?

As you can see, it is essential to make your strategy viable. It is the most difficult and the most underestimated step of the development plan. However, it leads to the achievement of organizational objectives.

According to the Harvard Business Review, the majority of leaders (96%) say they lack the time to implement their strategy because they are too busy putting out fires and dealing with problems on a daily basis.

When asked what they would do if they had a day to lay the groundwork, most of them have no idea! This illustrates the lack of understanding of the strategic plan itself. At Dancause, we have also observed that:

Implementation's worst enemy is a big plan;

  • the strategic plan should be based on facts and not perceptions;
  • the leaders of the strategic process must understand the daily operations of the company;
  • the majority of companies invest 90% of their energy in establishing a strategy and only 10% in achieving it;
  • the rate of energy that a senior leader devotes to operations should be between 20% and 30%, when in reality it takes 95% of his time.
However, it is possible to resolve these issues and to fully understand its strategy by setting up a CMOS and by developing tools to bring it to life.
 

1 comment:

  1. They are good strategy. I will implement it in my business. Please write more of this, I will keep on visiting.

    ReplyDelete