Right business execution is the key to success. Successful business leaders focus on the right execution of business strategies in order to sustain and scale up. Execution of business strategies can have three steps as follows:
- Achieving Strategic Clarity. The first challenge is to have an executable strategy. A good strategy thus has two prerequisites.
- Right level of ambition that is neither too ambitious nor too pessimistic in terms of its feasibility.
- It should be set understanding clearly the essential organizational capabilities. The more important organizational capabilities that need to be built would be those which cannot be easily duplicated. This step thus would allow executives to identify their key execution risks and have a realistic calculation of their ability to build the capabilities that is being expected of them.
- Achieving Organizational Clarity by setting up a key subset of strategic goals and strategic capabilities. The subset should be designed so as to able to achieve the right interactions between the key units along with the interdependencies rightly recognized and actively managed. This includes building the right roles and assigning the right talent to the right roles.
- Building a Management System that marries the organization to the structure and achieves collective coordination. This is an approach which creates a system that combines management hierarchy with the two key conditions of creating an empowered staff and a built in self-corrective feedback mechanism.
Getting the execution right is the most important imperative for business success. For more details check our program @https://online.ifheindia.org/
Discussion Question “Vision without implementation is just hallucination!” Do you agree? Why?
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