The phenomenon has a name: Failure to implement. It’s like having a roadmap to your destination, but never getting in your car to drive there. The problem could be lack of time, support, or resources for carrying out initiatives, or no follow-up to make sure the progress stays on track. Show
“A lot of companies have a great strategic plan, but it’s poorly implemented,” says Nyron Drepaul, a Senior Business Advisor with BDC’s Advisory Services who helps companies prepare strategic plans. “It’s a shame because the value of a strategic plan is realized in the implementation. It’s important to get it right, or your planning work will be wasted and your business will fail to achieve its goals.” Drepaul offers five tips for implementing your strategic plan: 1. Allocate adequate resourcesAdequate human and financial resources are critical for implementation success. A key output in strategic planning is an action plan that lists concrete initiatives to achieve your goals. It includes a timeline, the names of employees who will carry out each action and key performance indicators (KPIs) to monitor progress. An appropriate budget should be allocated for each initiative, along with time, support, authority and any needed training for employees to accomplish it. “Employees often don’t get the time, support or resources they need,” Drepaul says. “Initiatives in the strategic plan are often seen as outside everyone’s day-to-day work. Management has to reinforce the message that the strategic plan is part of the day-to-day work. That is half the battle of implementation.” Some companies make the mistake of thinking that once they have a strategic plan, they don’t need to spend any additional money on executing it. “If the plan involves actions, it requires a budget for each action,” Drepaul says. 2. Assign the team responsible for implementationThe strategic plan should list which employee will carry out and take responsibility for each initiative, along with who else will provide support or be involved. It can also be helpful to appoint champions for key initiatives; they can act as change agents in their department and as a point of contact for other employees. A champion can be someone listed in the strategic plan or another employee. “The key is for your team to take ownership of the plan,” Drepaul says. “The worst is if ownership is only with the CEO. You need to delegate authority and responsibility.” Also consider whether you need outside help to implement or support certain initiatives (for example, an operational efficiency expert or website designer), or even a coach to support the entire strategic plan. 3. Schedule regular review meetingsRegular meetings (monthly is typical) are essential to the successful implementation of the strategic plan. They provide an important mechanism to monitor progress, recognize achievements, resolve problems and take any needed corrective actions. A more thorough review is useful each quarter; this is a good time to see if your broader goals need to be revised and any tactics need to be changed. “Regular meetings are the infrastructure of the implementation process,” Drepaul says. “One of the main causes of implementation problems is a lack of regular effective meetings. Some people say they’re too busy with their day-to-day. This is your day-to-day. If you only meet once a quarter and fall behind, it’s harder to get back on track.” Ensure meetings are productive and effective by setting an agenda and making them action-oriented and efficient. 4. Watch your key performance measuresYour strategic plan should include key performance indicators (KPIs) for each initiative. These may be measures for individual employees, departments and the business as a whole. You must keep a constant eye on the KPIs, reviewing them at meetings and in between. This can be monitored by a suitable KPI dashboard. “Remember that what gets measured gets done,” Drepaul says. “This is a fundamental principle of behaviour and organizational change. You have to have the right metrics; otherwise nothing will happen. The right metrics are critical for driving the desired actions, behaviour and results.” 5. Be agile and ready to adjustNo plan survives the first contact with reality. It’s important for your implementation plan to be agile and flexible. “You can’t predict the future exactly, so be prepared to adapt and adjust the plan as conditions change internally and externally,” Drepaul says. “You have to recognize that executing the plan is interactive and requires continuous adaptation, all focused on moving the needle toward your desired future state. A strategic plan is a living, breathing document.” Follow these 6 steps to successfully implement your strategic plan.
What is Strategic Implementation?Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy. The video How to Build a Strategic Plan You Can Actually Implement is a great way to learn how to take your implementation to the next level. Critical actions move a strategic plan from a document that sits on the shelf to actions that drive business growth. Sadly, the majority of companies who have strategic plans fail to implement them. According to Fortune Magazine, nine out of ten organizations fail to implement their strategic plan for many reasons:
A strategic plan provides a business with the roadmap it needs to pursue a specific strategic direction and set of performance goals, deliver customer value, and be successful. However, this is just a plan; it doesn’t guarantee that the desired performance is reached any more than having a roadmap guarantees the traveler arrives at the desired destination. Getting Your Strategy Ready for ImplementationFor those businesses that have a plan in place, wasting time and energy on the planning process and then not implementing the plan is very discouraging. Although the topic of implementation may not be the most exciting thing to talk about, it’s a fundamental business practice that’s critical for any strategy to take hold. The strategic plan addresses the what and why of activities, but implementation addresses the who, where, when, and how. The fact is that both pieces are critical to success. In fact, companies can gain competitive advantage through implementation if done effectively. In the following sections, you’ll discover how to get support for your complete implementation plan and how to avoid some common mistakes. Get the Free Guide for Agile Implementation & OKR CyclesGet The Guide Avoiding the Implementation PitfallsBecause you want your plan to succeed, heed the advice
here and stay away from the pitfalls of implementing your strategic plan.
It’s easier to avoid pitfalls when they’re clearly identified. Now that you know what they are, you’re more likely to jump right over them! Covering All Your BasesAs a business owner, executive, or department manager, your job entails making sure you’re set up for a successful implementation. Before you start this process, evaluate your strategic plan and how you may implement it by answering a few questions to keep yourself in check. Take a moment to honestly answer the following questions:
Making Sure You Have the SupportOften overlooked are the five key components necessary to support implementation: people, resources, structure, systems, and culture. All components must be in place in order to move from creating the plan to activating the plan. PeopleThe first stage of implementing your plan is to make sure to have the right people on board. The right people include those folks with required competencies and skills that are needed to support the plan. In the months following the planning process, expand employee skills through training, recruitment, or new hires to include new competencies required by the strategic plan. ResourcesYou need to have sufficient funds and enough time to support implementation. Often, true costs are underestimated or not identified. True costs can include a realistic time commitment from staff to achieve a goal, a clear identification of expenses associated with a tactic, or unexpected cost overruns by a vendor. Additionally, employees must have enough time to implement what may be additional activities that they aren’t currently performing. StructureSet your structure of management and appropriate lines of authority, and have clear, open lines of communication with your employees. A plan owner and regular strategy meetings are the two easiest ways to put a structure in place. Meetings to review the progress should be scheduled monthly or quarterly, depending on the level of activity and time frame of the plan. SystemsBoth management and technology systems help track the progress of the plan and make it faster to adapt to changes. As part of the system, build milestones into the plan that must be achieved within a specific time frame. A scorecard is one tool used by many organizations that incorporates progress tracking and milestones. CultureCreate an environment that connects employees to the organization’s mission and that makes them feel comfortable. To reinforce the importance of focusing on strategy and vision, reward success. Develop some creative positive and negative consequences for achieving or not achieving the strategy. The rewards may be big or small, as long as they lift the strategy above the day-to-day so people make it a priority. Determine Your Plan of AttackImplementing your plan includes several different pieces and can sometimes feel like it needs another plan of its own. But you don’t need to go to that extent. Use the steps below as your base implementation plan. Modify it to make it your own timeline and fit your organization’s culture and structure.
What are the important practices that help in effective implementation of the strategy?7 Key Steps in the Implementation Process. Set Clear Goals and Define Key Variables. ... . Determine Roles, Responsibilities, and Relationships. ... . Delegate the Work. ... . Execute the Plan, Monitor Progress and Performance, and Provide Continued Support. ... . Take Corrective Action (Adjust or Revise, as Necessary). Are there any best practices for successful strategic planning implementation?Four Best Practices for Strategic Planning. They explore strategy at distinct time horizons.. They constantly reinvent and stimulate the strategic dialogue.. They engage the broad organization.. They invest in execution and monitoring.. What are the 5 most relevant strategies activities for successful implementation?5 top ways to implement a strategic plan. Communicate and align. CEOs need to begin with clearly communicating their objectives, which should be driven by the company's values and vision. ... . Drive accountability. ... . Create focus. ... . Be action-oriented. ... . Track progress.. |