Strategy Execution
Execution is now measured every quarter – and not just by numbers. Companies that execute successfully get a premium in the market and this has to be understood by all employees. Organizations that execute their plans understand three things well:
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Execution is integral to strategy and is a discipline
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Execution is a focus area for all the leaders
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Organizations need to build a culture of execution and adaptation
The program is designed for the senior leaders of an organization to learn to conceptualize, design and implement a Strategy. And we believe that unless there is a practice in learning and implementing, people hesitate to take full action. We remove this hurdle of hesitance and fear through our Simulations.
The simulation is designed for practicing implementation of the full cycle of developing a strategy to implementing it and monitoring periodically. We have adapted the BSC framework developed by Drs. Kaplan and Norton. The framework is in wide use today in many reputed organizations around the world.
The six stages of the framework ensure that any organization is ready to take the steps of developing new strategy and implementing it.
Clarifying the Strategy
Having a unity of purpose is the reason for creating an organization. Yet many organizations are not able to set goals and communicate to the employees. This gap causes dispersion among employees resulting in different groups of employees striving to achieve their own goals. Through this program, organization leaders learn to develop and clarify their strategies. They can review their past strategy against the parameters of evaluation of strategy.
Translating the strategy into an actionable list of items is key in accomplishing the targets. Without clarity on who will do what, an organization ends up having a strategy with out action. A structured method of converting the Strategy blueprint in to a actionable set of activities is provided to the leaders in this program. They will also actually practice the translation through our business simulation game. This is a deeply engrossing activity in the learning program and leaders find it an eye opener.
Translate the Strategy
Align the Organisation
A strategy that is well percolated to each and every employee has a greater chance of success. Where the Strategy blueprint is not percolated, employees normally tend to not aligned appropriately. This results in wasted effort and frustration in employees. Alignment helps all the employees of the organization to not only understand the strategy but also how they can help in implementing it. Employees get involved in knowing how their contribution matters in the overall scheme of arrangements.
This stage of the program stresses on how the strategy can be planned for execution. There are many steps including the budgets and teams that are essential for execution.
We cover the various aspects of preparing prior to full blown implementation of the strategy. We also cover how firms need to organize the work of strategy so that it does not fall between the cracks or take a backseat after initial bold start.
Plan for execution
Monitor and Learn
After the organization has planned and prepared for the execution of the strategy, employees start putting the strategy into action. Various departments and teams improvise their implementation depending on the situations they encounter. Many refinements are expected.
We help leaders learn what to expect in this stage and how they can be ready to face the challenges. They also learn to monitor their plans, capture and share their learnings.
Many organizations stop at stage 5 of monitoring and learning from implementation. Testing and adapting the strategy is the next stage where the leaders will learn how to check how good their strategy was.
They also learn to check if their assumptions in framing the strategy were correct or not. We help leaders learn how they can use Big Data and Data Analytics to test the strength of their strategy and how they can change it based on the fresh information that is available to them.
Test and Adapt
Learning Methodology.
Participants learn through conceptual understanding and practical applications.
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A web-based business simulation for strategy execution is used for the learning program. Participants will actually experience strategy execution through this simulation and will be able to see the results of their decisions and compare them with the results of others.
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Experienced facilitators impart the concepts in a classroom discussion style. The application of conceptual learning is done through a simulation of business situations.
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A “Learning by Doing” approach is adopted in all the programs.
Learning Outcomes
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Participants will be able to understand their organization strategy at a high level by applying the learnings and will learn how to clarify and communicate their organization and functional strategies.
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Participants are exposed to the frequently used financial and non-financial objectives and measures essential for executing strategy.
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Participants will learn to align their organization's departments to the strategic goals and also how to assign objectives and measures to their subordinates.
