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by Richard Horwath
It’s popular in today’s business arena to say that “execution is everything—bad strategy well-executed is better than great strategy poorly executed” is the mantra. However, consider this: you can have the highest performance Ferrari in the world (great execution) but if you’re driving that Ferrari on a road headed over a cliff (poor strategy), you are finished.
Great strategy and great execution are not mutually exclusive. While one of the biggest challenges most companies face is successfully translating strategy into daily activities, there are several tools and techniques we can use to do so.
Typically, lengthy strategic plans are housed in bulky three-ring binders collecting dust on the shelf until their annual renewal. The solution to this age-old dilemma of translating strategy into execution is to morph the traditional narrative strategic plan into a map. As author Mark Fuller noted:
West Point was founded in 1802. Two centuries later, only one course taught that first year remains part of the curriculum. The course is map reading. The reason is simple: information is at the heart of change and maps are at the heart of information.
The Business Blueprint
The StrategyPrint® is a powerful two-page blueprint that serves as a real-time strategic action plan or map for a business. The StrategyPrint solves the challenge of linking strategy development with strategy execution by providing a concise and thorough two-page document that is infinitely more functional to use on a daily basis than the traditional strategic plan.
StrategyPrint
Page two of the StrategyPrint transforms the insights into the strategic action plan, including the overarching strategy, business drivers, goals, objectives, strategies and tactics. The result is a common framework that can be used throughout the business
to ensure that everyone is following a unified strategic direction. The StrategyPrint embodies the premise “brevity demonstrates mastery.” In a time when we are expected to move at warp speed and communicate instantaneously, the StrategyPrint enables us to quickly and comprehensively convey the key aspects of the business to colleagues, the Board of Directors, employees or venture capitalists.
Strategy Rollout
Just as a plumbing system moves water to all of the appropriate locations within a home, the implementation and communication plan provides the piping for moving strategic direction throughout an organization. Not having a strong pipeline to all of the functional groups in the organization will cause information leaks that will derail efforts.
The Strategy Rollout phase ensures that the key elements of the strategic plan are clearly communicated throughout the organization and that an implementation plan is in place.
The first step is to create an overarching implementation and communication plan that provides the direction and detail of how the strategic plan will be executed. Following is a checklist of the key areas to address in designing a solid implementation and communication plan:
- Purpose—what purposes is the plan designed to achieve and are they clearly articulated in the form of vision, goals and objectives?
- Resources—what are the resources (people, money, technology, etc.) that will be required to achieve the plan’s purposes?
- Accountability—which individuals and functional groups are assigned responsibility for achieving each of the goals?
- Time Frame—what are the time parameters associated with the elements of the plan?
- Budget—how much will each item identified in the plan cost to implement?
- Alignment—are all of the functional groups (marketing, sales, project management, IT, etc.) aligned to achieve the same goals or will groups be pulling in different directions?
- Metrics—are clear, consistent and realistic metrics in place to monitor progress?
- Project Template—is a singular project template in place to ensure that all projects consuming resources are meeting the agreed upon strategic criteria?
- Communication Tools—have the appropriate communication vehicles been identified to convey the key information of the strategic plan to all employees?
- Develop communication vehicles
After the strategic plan has been crafted, the appropriate communication tools are created to facilitate the sharing of the strategic plan elements with all relevant stakeholders. The beauty of the StrategyPrint is that once it’s completed, it immediately becomes an excellent communication tool because it succinctly captures the essence of the strategic plan in a two-page template.
In addition to the StrategyPrint, presentations and their corresponding talk tracks are helpful in ensuring that a consistent message is delivered throughout the organization. Prior to the development of these communication vehicles, identify the range of audiences and keep their perspectives at the forefront of the selection of tools. While universal presentations help shape a consistent message, a key is to have the executives in charge of the various functional areas (marketing, R&D, operations, etc.) tailor the meaning or “So what?” of the strategic plan for their specific areas of focus.
- Communicate the strategic plan
There are five keys to successfully communicating the strategic plan to members of the organization:- Simplicity—use easily understood language and avoid technical terms.
- Clarity—keep the essence of the message concise and avoid overloading recipients with too much of the superfluous detail.
- Repetition—as George Bernard Shaw said, “The greatest problem with communication is the illusion that it has been accomplished,” so continue to spread the message after the initial charge.
- Interaction—include forums for open, honest and two-way communication with employees to capture feedback for modifying the message.
- Multiple vehicles—utilize a number of different mediums to share the plan’s information.
- Collect & review feedback
Formal and informal methods for collecting and reviewing feedback on the strategic plan should be included in the process to determine the breadth and depth of the plan’s understanding by employees. Formal methods include surveys in hardcopy or electronic formats, town hall meetings and individual interviews. Informal methods include cafeteria conversations, Q&A sessions at the functional or business unit level and email correspondence. While the members of the strategy development team will have an intricate understanding of the strategic plan at this point, it should not be taken for granted that the other employees will have that same level of understanding. - Incorporate into daily activities
If strategy is seen as a separate entity from employee’s “regular” work, then the implementation has been a failure. The Strategy Rollout must take the elements of the strategic plan and use them to drive employee’s daily activities. When strategy is used to drive daily activities, it can then be weaved seamlessly into an employee’s action plan, accountabilities and compensation program. The StrategyPrint is designed to be used by employees at every level, ensuring that their goals and objectives are aligned with those of the organizations. Once employees create their tailored StrategyPrints, the tactics designed to carry out their strategies to reach the goals and objectives can be further detailed in the Project Forms discussed earlier. - Monitor progress
The interactive and dynamic nature of business requires that strategy development be a perpetual process. In that spirit, we must continually monitor not only the validity and relevance of the strategy itself, but also the implementation and communication of that strategy. Obviously, the metrics you choose will provide the key gauge as to whether the organization is aligned and working toward the strategic direction outlined. Organizations can become awash in metrics and easily lose sight of their goals and strategies. Select metrics discriminately, using only the handful that will truly measure the progress you are trying to achieve. Be sure to measure not only the strategy’s effectiveness, but the effectiveness of the communication of the strategy internally with employees using surveys and interviews. Moving into Fifth Gear
Research has shown that financially successful firms must excel at both strategy development and execution. Using tools such as the StrategyPrint, strategy implementation checklist and strategy rollout guidelines can all serve to keep your business humming. Otherwise, please pull over into the right lane and prepare to be passed by the competition.¨
Rich Horwath helps managers develop the skills and expertise to create great strategy and fulfill their leadership potential. He is the president of the Strategic Thinking Institute, a former Chief Strategy Officer and professor of strategy at the Lake Forest Graduate School of Management. Rich is the author of Sculpting Air: The Executive’s Guide to Shaping Strategy and Storm Rider: Becoming a Strategic Thinker.
Copyright Rich Horwath. All Rights Reserved.
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