3 Ways You Can Improve Your Strategy Execution Process In the Nick of Time
by Mark Withington, on Aug 15, 2022 9:30:00 AM
The power of new technologies to “disrupt” an industry’s current ecosystem in an often devastating way is called being “Amazoned.” As new and powerful technologies race to the forefront of our world, organizations must be poised to take advantage of them in order not just to survive but thrive. This is why many organizations are looking towards their strategy execution (or lack thereof) to help fend off the digital wolves at the door.
Strategy Execution – the act of identifying and designing an organization’s strategy and the portfolio of projects necessary to realize that strategy – has become increasingly more complex with the advent of technologies like big data, IoT, AI, cloud computing, etc. This is primarily because these technologies have the ability to “disrupt” incumbent organizations, allowing newfound competitors to leapfrog their value proposition by offering better, cheaper, faster, or all of the above to their customers. In short, disruptive technologies are the catalyst in being “Amazoned.”
The Importance of Having a Successful Strategy Execution Process
For many Amazon-at-risk organizations, their strategy execution toolset is inadequate for identifying opportunities and threats before the tsunami wave hits the shore. At Accelare, we have developed a three-phase Strategy to Execution (S2E) approach specifically designed to identify the transformational projects necessary to change the organization’s business model and the run & improve projects critical to divest vulnerable capabilities and shore up necessary existing capabilities. This is timely because 78% of the CEOs polled in a recent KPMG survey stated that [we] “need to be quicker to shift investment to digital opportunities and divest businesses that face digital obsolescence[i].”
Digital obsolescence has a nice, perhaps even noble ring to it. Still, it masks the graphic reality of many businesses of varying sizes going under when Amazon came onto the scene. Using our S2E approach, you’re taking advantage of years of expert experience. Stack the deck and make a bet on yourself with a well-thought-out and highly effective S2E.
3 Tips On Improving Your Strategy Execution Process
Here at Accelare, we specialize in guiding organizations through the process of developing an S2E process. Time and time again, we’re thrilled to see our clients transform themselves through clarity of vision, effective strategy, and technology into resilient, agile, and potent organizations. As part of our vision to see more successful independent organizations, we want to share our three steps to successful strategy execution.
S2E conducts three chronological workstreams to uncover the transformation and run & improve roadmap:
- Clarify your strategy –develop, distill, and articulate your organization’s strategy in the form of Objectives and Key Results (OKRS) constrained to fit on one page (e.g., 5 to 7 well-articulated OKRs). Too often, organizations aspire to way too many initiatives, often causing distractions and working at cross purposes.
- Create your operating model - create an abstract and visual representation of what capabilities (people, processes, and technology) your organization uses to deliver its value proposition to its customers (see Figure 1). Be sure to identify the capabilities that support the OKR identified in step one.
- Create a transformational road map – Create a scoring metric that highlights the area of strategic need (See Figure 1) around the capabilities within your operating model. We use a one through five scale for:
- contribution to strategic OKRs
- contribution to the P&L
- effectiveness, and
Once the heatmap is complete, brainstorm a set of Projects on a Page (PoP) that will address the areas of high-heat generated by the four attributes above. These PoPs then need to be sequenced and slotted against the constraints of CapEx/OpEx spend and resource availability articulating the Transformation and Run & Improve agenda.
Accelare Strategy Execution Consulting
At Accelare, we specialize in helping organizations like yours with their strategy execution. Effective strategy execution can mean the difference between thriving or going under, as new technologies allow for disruption or the “Amazon” effect. We are experts at effective strategy execution and digital transformation. Let us help you make your organization more resilient and successful with our tried and true chronological workstreams. Wherever your organization is at on its strategy execution process journey, we want to help! Reach out to us for a discussion about your organization and its needs today.