Translating Strategy into Action.

It's estimated that up to 40% of the potential value of a strategic plan is lost through poor execution. This directly impacts cashflows and lost profitability. Generally there are three barriers to effective strategy execution.

• Misaligned performance management systems. 'Compensation drives behaviour'
• Inadequate resource allocation
• Unengaged employees not supporting the strategy

Methods for imporoving the execution of strategy:

• Performance goals must be allocated and owned at an individual level.
• Performance goals must be measureable, achievable and with an end date
• Performance gaols must directly effect compensation and bonus plans
• Bookend the execution planning process, otherwise you will find yourself in 'scope creep' suffering from a severe case of 'analysis paralysis'.
• Communicate the strategy
• Communicate the performance goals
• Complete any required training
• Continally review and communicate the progress on the performance goals. 'What gets measured - gets done!'
• Communicate the achievement of the goals
• Celebrate your success

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