Business

Business 101: Why Strategy Planning Without Execution Is A Mistake!

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The top management is constantly under pressure to develop strategy. They are asked to make plans and are expected to get work. Often, the results are not in sync with strategy development, and that happens because businesses don’t focus as much on execution as they do for planning. If your managers are just making plans, and these plans are being contained in spreadsheets and folders, failure is an eventuality. While using strategy planning templates can help in better planning, execution requires a platform. Many businesses are seeking help from consultants and using strategy planning software to get work done.

Lack of communication

Business owners and managers need to understand and appreciate the need for communication. They need to develop a culture within the organization that’s based on transparency and respective roles. If you really want to succeed with strategy execution, make sure that communication is ensured at all levels.

Lack of accountability and rights

Plans cannot be executed, unless people are aware of their roles and who to take orders from. Decision rights must be clarified within the organization, and a clear dashboard must be used, so that there are no confusions. This is precisely where strategy planning software comes in the picture. Such software offers a comprehensive platform that gets managers, employees and executives together and develops a collaborative approach to each project and plan.

Lack of scalability

For effective strategy execution, it is also important to have goals that are measurable. In other words, businesses need to figure out how to evaluate performances and reward effort. Strategy planning software products, depending on what you have selected, will offer resources, KPIs and other tools, so that goals can be measured in the real sense.

The need to adapt

Finally, let’s not forget that strategic execution is also about adaptability. You may choose to make plans, but unless you learn from your mistakes and gather data that can be used effectively for further reporting, none of the efforts can be evaluated. To make the most of strategic execution, use a software that encourages team work, motivates the people within the organization, and at the same time, allows the management to correct and preventive measures as required.

Final word

Unless you have a clear means for strategic execution, you cannot achieve your goals – period. If you are unsure of how to select a software for strategy planning and execution, consider hiring consultants for an unbiased outlook.

Seanan Karl
the authorSeanan Karl