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April 27, 2021 by Carlos M. Henao 0

Strategy execution

Strategy execution
April 27, 2021 by Carlos M. Henao 0
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The essence of strategy is its execution. Unfortunately, there are many ways in which strategy execution can derail. Nonetheless, studies have shown that there are some fundamentals that increase the chances of success. First, make sure that the strategy is clear and succinct so that it is understandable by the people in charge of its execution. Second, every manager must communicate the strategy to his/her team in a bi-directional dialogue focused on what is expected from the company, the team, and each individual. Third, make sure you have the right people with the right motivations, skills, and resources. And, finally, put the right organization in place, considering processes, governance/decision rights, and structure. 

Here there is some great material to get started in the journey to master strategy execution:

Translating strategy into results  (London Business School)

Turning strategy into results (MIT Sloan Management Review)

The secrets to successful strategy execution (Harvard Business Review)

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