You're a business owner, or perhaps a manager, and you're looking to implement a new strategy. You've done your research, you've come up with an ambitious plan that you believe will take your company to the next level, but you're worried that it won't be executed as well as you'd hoped. You're not alone. The secret to a great executable strategy is creating a strategy that is executable. I know, I know, it sounds like a lame answer, but bear with me.
What is an Executable Strategy?
An executable strategy is a strategy that people can first understand. That means not just what the words mean, but what it means for them in their job, in their role, in their function. It's a strategy that people want to execute, so one that they understand why it is an important strategy, where they have been involved, where they feel committed and engaged. And lastly, it's a strategy that they're also able to execute. That means that the strategy matches their skills, their competences, but also the skills, competences, and resources of the company.
Why Does Your Strategy Need to be Executable?
The importance of creating an executable strategy may seem obvious. And while you’re correct, too many companies get lost in the process and end up with a strategy that is not executable and is ultimately worthless. It's like building a car but forgetting the wheels - it may look nice, but it's not going anywhere. A strategy needs to be understood, wanted, and should be able to be executed by your team. Great leaders know that you can't just throw a strategy at their team and expect them to get it, perform it, and be motivated by it.
Let’s look at some fundamentals: The Three Pillars
To achieve an executable strategy, you need to focus on three key pillars: understanding, commitment, and capability. Let's dive into each of these pillars and how to ensure that your strategy is executable.
Pillar 1: Understanding
An executable strategy is one that people can understand. This means not just understanding what the words mean, but what it means for them in their job, in their role, in their function. To ensure that your strategy is understood by everyone in the company, you need to communicate it effectively.
Communication is key to ensuring that your strategy is executable. Great leaders know that you can't just throw a strategy at their employees and expect them to get it, perform it, and be motivated by it. You need to take the time to explain why the strategy is important, how it aligns with the company's goals, and how it will impact each employee's work.
During the strategy generation phase, it's crucial to involve employees and communicate the strategy effectively. When communication with employees fails during strategy generation, then you can bet that strategy will be incredibly difficult to implement.
To ensure that your strategy is understood by everyone in the company, use clear and concise language, provide examples that illustrate the strategy in action, and be open to questions and feedback. Encourage dialogue and collaboration to ensure that everyone is on the same page.
Pillar 2: Commitment
An executable strategy is one that people want to execute. This means that they understand why it is an important strategy, where they have been involved, where they feel committed and engaged. To ensure that your strategy is committed to by everyone in the company, you need to involve them in the process.
Employees who feel involved and engaged in the strategy creation process are more likely to be committed to the execution of the strategy. When employees feel like they have a say in the strategy, they are more likely to take ownership of it and work hard to make it a success.
To involve employees in the process, hold regular meetings to discuss the strategy, gather feedback, and make changes as needed. Encourage employees to share their thoughts and ideas on how to execute the strategy and recognize their contributions.
Pillar 3: Capability
An executable strategy is one that people are able to execute. This means that the strategy matches their skills, their competencies, but also the skills, competencies, and resources of the company. To ensure that your strategy is executable by everyone in the company, you need to match the strategy to the capabilities of your employees and your company.
To match the strategy to the capabilities of your employees and your company, you need to assess your resources, including your employees' skills and competencies. Determine what resources you have available and what resources you will need to execute the strategy. Identify any gaps in skills or competencies and create a plan to fill those gaps.
Provide training and development opportunities to ensure that your employees have the skills and knowledge needed to execute the strategy. Set realistic goals and expectations, and provide the support and resources needed to achieve those goals.
Putting It All Together: How to Create an Executable Strategy
Creating an executable strategy is no easy task, but it's not impossible. Here are a few tips on how to ensure that your strategy is executable:
1. Understand Your Employees
To create an executable strategy, you need to first understand your employees. What are their strengths and weaknesses? What resources are available to them? What skills and competencies do they possess? By understanding your employees, you can create a strategy that matches their abilities and the resources available to them.
- Conduct employee surveys to learn about their needs, goals, and concerns.
- Analyze employee performance data to identify strengths and weaknesses.
- Use job shadowing or employee observation to gain a better understanding of their work and challenges.
- Create employee personas to help you understand and empathize with their perspectives.
2. Communicate Effectively
Communicating the strategy to employees during the generating part, especially, is often missing. When communication with employees fails during strategy generation, then you can bet that strategy will be incredibly difficult to implement. Effective communication is key. Make sure your employees understand what the strategy is, why it's important, and how they can contribute to its success.
- Use simple language and avoid jargon or technical terms.
- Use visuals and examples to illustrate key points.
- Repeat key messages multiple times through different channels.
- Encourage two-way communication by soliciting feedback and questions.
3. Involve Employees in the Strategy Creation
People support what they help create. Involve your employees in the strategy creation process. This not only ensures that the strategy is executable but also gives employees a sense of ownership and pride in the strategy's success. When people feel like they're part of something, they're more likely to be invested in its success.
- Hold hold small/focused team meetings or brainstorming sessions to gather employee input.
- Create cross-functional teams to ensure diverse perspectives are represented.
- Empower employees to make decisions and take ownership of the strategy.
- Provide training or resources to help employees contribute effectively.
4. Set Realistic Goals
Finally, it's essential to set realistic goals. While it's great to shoot for the stars, you need to make sure that your goals are achievable. If your strategy is too ambitious, it may not be executable, and your employees may become overwhelmed and disengaged.
- Conduct a SWOT analysis to identify strengths, weaknesses, opportunities, and threats.
- Use insights from step #1 to set specific, measurable, actionable, realistic, and time-bound (SMART) goals.
- Ensure goals align with the company's mission, vision, and values.
- Consider resource constraints and other factors that could impact goal attainment.
Conclusion
So, does having an executable strategy solve all implementation problems? Of course not. But it will definitely improve your chances. By creating a strategy that is executable, you're ensuring that your employees understand it, want to execute it, and are actually able to execute it. Remember, a strategy that is not executable is worthless, so take the time to do it right and you’ll be setting your team up for success.
Important Questions:
Here are a few important strategic questions you should consider while creating your executable strategy:
- What is the company's mission, vision, and values, and how do they align with the strategy?
- What are the company's strengths, weaknesses, opportunities, and threats (SWOT analysis)?
- What are the company's goals, and how will they be achieved?
- What resources (financial, human, technological, etc.) are available to support the strategy?
- Who are the company's target customers, and how will they be reached?
- What competitive advantage does the company have, and how will it be sustained?
- What risks and uncertainties could impact the strategy, and how will they be addressed?
- How will progress be measured, and what metrics will be used?
- How will the strategy be communicated to employees, and how will their feedback be incorporated?
- What is the timeline for executing the strategy, and how will milestones be tracked and adjusted if necessary?
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