…the discipline and the driving force behind excellent performance
It is said that, executing without a plan or strategy is nothing more than hoping success will happen. Though its possible success could happen, it certainly will not have any consistency.
To Monte Pedersen, strategy is where most managers make mistakes in that, they do not effectively translate strategy across the organization or team. To him, effective strategy execution remains the linchpin of turning the organizations aspirations into tangible success. That said, one will need more than having a well-crafted strategic plan and the best practices to execute efficiently. Not so?
In a world of constant change for that matter, the best practice that ensures robust execution and long-term success of organizations requires leaders to develop new behaviors and skillsets to master the art of execution. And while mastering execution is rarely easy, it can certainly be done only through discipline and with great effort.
Successful execution however means seizing and acting on opportunities that support the business strategy. Knowing that leadership develops strategic plans and methods for executing on that vision in a seamlessly integrated way, it is important to ensure these plans remain flexible over time to allow for responses to the changing needs and conditions in the business space with agility and speed.
We are aware survey after survey reveals that, strategy execution is a top priority for executives worldwide. That, the highest performing leaders understand they are not trying to eliminate the gap; between the goals and outcomes which is execution. Rather, they are working relentlessly to shrink the gap through execution exercise. However, the loftier the goals, the more difficult they are to achieve, so the execution gap is never truly eliminated
Having said that, we also acknowledge successful execution of strong and robust strategies gives any organization a significant competitive edge. Even in our current turbulent environments for instance, the ability to develop and execute new strategies quickly and effectively may be the difference between success and failure for many organizations.
That obviously requires leadership to take action with the right frame of mind, build and execute on a well-thought-out plan. In other words, to make real progress in execution, it is imperative to strike a balance between having the right frame of mind and a thought out plan which is never easy but particularly challenging for many leaders.
Understanding Execution
To make reference to Larry Bossidy, he explains that execution is “the missing link between aspirations and results. Execution, has also been cited as the carrying out of a plan, order, or course of action. To successfully champion execution may require a set of key leadership behaviors and attributes.
Nevertheless, some leaders are often very good at strategic planning but poor at executing on those plans. To possess the ability to communicate strategic intent, inspire others to contribute, and create attainable, incremental goals that indicate that the leader and the team members are making measurable progress on the plan constitute an immeasurable skillset for execution success.
Additionally, there ought to be the personal drive, the right frame of mind, great determination, perseverance, as well as the ability to set direction, instill ownership, lead the change, build a plan, establish accountability, coach and recognize others for their contributions.
Meanwhile, to be a champion in execution management is to adhere to execution best practices, the only way organizations can bridge the gap between strategy and execution, thereby fostering a culture of excellence that transforms vision into reality.
Execution Best Practices
These best practices serve as the guiding principles that lead organizations toward achieving their strategic intents. They provide a roadmap to success, ensuring that the strategic vision does not remain a lofty ideal but becomes a tangible reality.
For strategy execution to be truly effective, aligning the organization’s vision, mission, and values with the strategic goals is essential. These foundational elements provide a sense of purpose and direction, shaping the organization’s culture and decision-making. The best practices are about ensuring the organization’s heart beats align with its strategic path.
Ensuring the entire organization understands and aligns with its strategic objectives as already mentioned is critically important. To do so communication and transparency are key components of this practice. The regular sharing of objectives with all stakeholders and providing updates on progress help keep everyone on the same page.
Effective objective setting as an execution best practice ensures objectives are cascaded throughout the organization, ensuring that every team, department, and individual understands how their work contributes to the larger strategy. Employees knowing how their efforts link to the organization’s objectives foster a sense of purpose and unity.
Why do most Execution Fail?
About 70 to 90 % of organizations do not succeed in effectively executing their strategy. This is attributed to many internal and external factors like a rapidly changing economy, technological advancements, hybrid-work environments, and multi-generations in the workforce which make executing at the highest level more challenging if not unsuccessful.
When looking at internal factors, almost all execution failure comes down to leadership. However, majority of strategies that fail in this sense when there is a fundamental disconnect between the development of a strategy and its subsequent execution emanates from lack of execution skills and discipline.
Managing the Qualities of an Execution Leader
The combined effort of leadership at all levels brings strategy execution to life. While the C-suite sets the strategic direction, middle managers ensure it’s translated effectively across all divisions. The ability to recognize the techniques for empowering people in the execution processes, identify leadership approaches in the practice element of the execution and recognizing examples of appropriate follow-up techniques to manage everyone in the process are the hallmarks of great leaders who have mastered the art of execution management. These executional qualities of the leader ought to be managed as follows:
Must have the Drive
Leaders with drive have the personal energy needed to move beyond the routine, day-to-day activities and make a difference through bold new ideas that will enhance the competitiveness of the team, the department, or the organization. They create early wins for the team and help others stay inspired.
Develop a set Frame of Mind
We realize that, competing priorities can often get in the way of making progress. Therefore, when leaders create a realistic to-do list with a prioritized series of tasks, the team can be sure that the progress achieved can be sustained over time. Again, the ability to maintain a healthy, positive outlook and remain focused on what the leader can do (rather than what you cannot) will allow him or her to recover quickly from any challenges and setbacks he or she may encounter.
A spirit of Perseverance
Having the tenacity and personal commitment to remain steadfast over the long term will allow the leader pursue the expected goals even as he or she encounters resistance, objections, questions, and concerns. Much more, leaders who are prepared to address people’s fears and feelings towards change while remaining persistent and continuing to move forward is considered a great skill.
Must Set Direction
Applying the right communication and influence skills allows the people to understand the big picture and desired outcomes. Only after people know how the work they are doing makes a difference for the organization will they become truly engaged and motivated by the tasks at hand. The leader needs to have a sense of direction and focus.
Have to instill Ownership
We also know that, successful execution requires leaders who can convey clear expectations early on so that everyone knows how they will personally contribute to the whole team’s success. Helping others recognize what’s in it for them, how they fit, and why they matter will transform them into key supporters and partners. Whenever possible, the leader ought to develop plans collaboratively so that people are personally invested in the outcomes of the execution process.
Lead the Change
Communicating the purpose and rationale for the change and guiding others through the discomfort and fear that often accompanies new ways of conducting business is imperative for successfully integrating new processes and responsibilities into the organization.
Must Build a Plan
Nothing helps a leader accomplish more than a good plan. The plan of action should define the roles, responsibilities, objectives, and actions that will help him or her achieve what have been set out to accomplish in a clear and compelling way.
Must establish accountability and recognize others efforts
Leaders must hold themselves and others accountable for their behavior and results. A lack of discipline or an inability to define milestones or measure success can derail the strategic plan and intent. Again, the leader’s ability to provide candid feedback when expectations are not being met allows the team the opportunity to correct their behavior. In addition, recognizing positive behavior and giving credit for specific contributions will encourage everyone to continue to produce the desired outcomes.
Managing the imperatives for a successful Execution
Effective strategy execution is a flywheel that never ends. It is a multi-faceted journey that requires careful planning, seamless alignment, and ongoing monitoring. Every step in this journey demands a different set of skills and tools. The role of best practices is to guide leaders through these steps and provide the wisdom accumulated from successful executions.
Successful strategy execution relies on the active participation of leaders across the organizational hierarchy. A precise and well-communicated alignment of vision, mission, and values with strategic goals can be a powerful tool to build a solid framework for the execution exercise. Individuals who share the organization’s vision and values are more likely to be attracted to the organization, contributing to a culture of like-minded individuals because such an organization is seen to be on top of its strategic intent through execution.
Fundamentally, the critical pillars for managing execution is knowing that plans will change, and making modifications at the moment is critical. Leaders who are slow to adjust or pivot will be left behind and will hold their team back from being successful.
That notwithstanding, leading a team to achieve superior outcomes requires knowing what the organization wants to accomplish while also carefully coordinating the efforts of team members and departments by leadership to achieve the organization’s strategic goals through proper execution.
The key Pillars:
The concept of execution is to manage a gap. The best leaders constantly look for ways to shrink the execution gap between strategic goals and outcomes. Though ideas are great, but action will always be more important. Therefore, leaders ought to focus on these pillars to shrinking and manage the gap between the strategic goals for optimal outcomes. These key imperatives include;
Defining clear Objectives and Key Result
Setting clear and measurable objectives is the bedrock of strategy execution. These objectives, often encapsulated as key results within the OKR framework, help the leader track all progress toward achieving the strategic goals.
In the context of best practices, it’s not just about setting objectives; it’s about setting the right objectives.
A critical best practice is ensuring these objectives are specific, measurable, achievable, relevant, and time-bound. Adhering to the SMART criteria ensures these objectives are well-defined and provide a clear path to success.
Ensuring clarity and consistency
When the purpose aligns with the strategic goals, they become a guiding principle. Here, the leader must clarify the “why” behind the strategy, ensuring everyone understands the larger purpose. This clarity translates into consistency in decision-making, as actions are evaluated against the organization’s core beliefs and objectives.
Enhancing stakeholder buy-in
When stakeholders, including employees, customers, and partners, see that an organization’s strategy aligns with its stated mission and values, they are more likely to buy into and support it. This alignment enhances trust and credibility.
Tracking and acting on strategic risks
It is important to manage all inherent risks for robust execution. This is because no strategy is without risks; tracking and acting upon them is essential. These risks can be internal, stemming from factors within the organization and external, originating from market forces, competition, or other external variables.
Instituting effective risk management practices
Identifying potential risks is the first step in managing strategic risks. This process involves systematically examining the various components of the strategy and organization to pinpoint possible risks. These risks range from operational inefficiencies and resource constraints to market volatility and regulatory changes.
Making modification
Adjusting, pivoting, and being flexible are requirements for leaders to be successful today. If that was not enough, if the leader is going to create a culture of execution, he can’t let things go beyond the moment of impact. For example, if someone on a team is failing to meet the team’s execution standards, they must know. The longer leaders let it slide, the longer it will take to recover. The leader must have the courage to modify the plan based on new information and be willing to communicate with the team when they fall short.
Aligning Team Members and Resources
When organizations fail to properly allocate resources (time, people and money) to implement strategies successfully it causes teams to splinter and go at different speeds and in alternative directions. To counter this, yearly, quarterly, and monthly alignment sessions or “strategic planning sessions” are essential. These dedicated times allow leaders to work on the business. To take a step back with their team to identify where they need to start, stop, or continue doing.
When everyone understands their role in achieving the strategic goals, and these roles align with the organization’s vision, mission, and values, the leader creates a synergy essential for successful execution. This alignment generates a sense of purpose, unity, and shared responsibility, ultimately propelling the organization toward strategic success. Thus, leadership at all levels must promote this alignment, ensuring the organization works harmoniously to achieve the shared vision.
In conclusion, combining strategic thinking with robust execution practices, making the impossible possible and inevitable, the world’s most successful organizations repeatedly prove that the right practices coupled with execution discipline can turn strategies into success stories.
Discovery….Thinking solutions, shaping visions.
Written By:
Frank is the CEO and Strategic Partner of AQUABEV Investment and Discovery Consulting Group. He is an Executive Director and the Lead Coach in Leadership Development and best Business Management practices for Discovery Leadership Masterclass. Email: [email protected] or [email protected]
