Even the best strategic plans can fall flat without the right execution. You’ve set organizational goals and formulated a strategic plan. Now, how do you ensure it gets done? Here are three keys to successful strategy execution you can use at your organization.
1. Commit to a Strategic Plan
Before diving into execution, it’s important to ensure all decision-makers and stakeholders agree on the strategic plan. Committing to a strategic plan before beginning implementation ensures all decision-makers and their teams are aligned on the same goals. This creates a shared understanding of the larger strategic plan throughout the organization.
2. Communicate Clearly to Empower Employees
When it comes to strategy execution, the power of clear communication can’t be overlooked. Strategy execution depends on each member of your organization’s daily tasks and decisions, so it’s vital to ensure everyone understands not only the company’s broader strategic goals, but how their individual responsibilities make achieving them possible.
3. Measure and Monitor Performance
Strategy execution relies on continually assessing progress toward goals. For this to be possible, key performance indicators (KPIs) should be determined during the strategic planning stage, and success should be defined numerically. By keeping a record of the change in customer retention rate on a weekly or monthly basis, you can observe data trends over time.