The Secrets to Successful Strategy Execution
In a recent article published in the Harvard Business Review, authors Gary L. Neilson and Karla L. Martin write execution is the result of thousands of decisions made every day by employees acting according to the information they have and their own self-interest. If executives wish to influence those actions, they would need to use 4 fundamental building blocks: clarifying decision rights, designing information flows, aligning motivators and making changes to structure.
So what particular traits of those 4 pillars mattered the most for efficient strategy execution? Authors concluded 17 traits listed on the chart, each corresponding to one or more of the four building blocks and discovered the top 5 elements of strong strategy execution.
5 Elements to a Strong Strategy Execution
- All team members have a good understanding of decisions & actions for which he/she is responsible for
- Headquarters receive important competitive environment information quickly
- Free flow of information across organizational boundaries
- Line and field employees have basic information to understand the impact of their day-to-day choices
- Decisions made are rarely second-guessed
So how can you integrate these key elements into your strategy execution?
Image from Harvard Business Review
Incorporating these 5 elements into your business strategy will result in having real-time data in every decision and action you take.
Level set your strategy by leveraging our industry-specific template
