Skills Library

Strategy and execution

• Ensures all stakeholders align on the strategic plan and communicates strategy execution to employees by sharing context for what it is and a common understanding of why it’s important

• Does not fear adjusting strategy execution as new situations and opportunities arise 

• Uses data, metrics and/or key performance indicators (KPIs) to make informed business decisions and observe areas for improvement 

On-the-job challenges

• Bridge the gap between strategy and execution. Robust strategic plans can break down with poor execution, and weak strategic plans can’t be salvaged with strong execution. 

  • Try this: To achieve long-term operational excellence, consider the three stages of the “strategy-to-execution continuum” from the HBR article “How to Excel at Both Strategy and Execution”: 

1. “Build the strategy”: What’s your value proposition? Are you willing to adapt your strategy to new circumstances? 

2. “Translate the strategy into the every day:” Clearly communicate your strategy to employees. Do you have strong processes and/or systems enabling success? Are you rewarding employees?

3. “Execute the strategy”: Are employees engaged and motivated to deliver results? Are you measuring performance and progress? 

• Use key performance indicators (KPIs). Utilize a metric system to monitor performance and continually assess progress. 

  • Try this: Identify your company or team’s strategic goal. If your sales team needs to decrease churn by X% and increase retention by Y% on a monthly or quarterly basis, keep a record. Use data dashboards for the team and/or company, such as Geckoboard, where metrics can be easily shared. If you’re in the office, consider featuring the data dashboard on a large monitor where your team sits. 

• KISS (“keep it simple, stupid”). If you separately ask two different people on the team “what’s the team or company’s strategy?”, would they have the same answer? Everyone should have a shared understanding of what the goal is. 

  • Try this: Summarize your strategy in 3 bullet points or less. Include this simplified plan into new hire onboarding so that new hires are aware from day 1.

• Celebrate team achievements. Acknowledge milestones on the way to boost morale, foster an empowering team culture, and encourage further achievements and execution on projects.

  • Try this: Follow the SBI Model when delivering positive feedback and praising employees. People need to know what they did and how their behavior positively impacted the team to continue delivering results. Just saying “good job” is ineffective. 

  • Try this: Create a “Kudos” Slack Channel or equivalent team chatroom where employees give shout-outs to each other. Acknowledge each employee who makes a small “win” for the team. i.e., Did they land a new sales deal? Did you receive feedback from a client who complimented Raj? Did you notice great teamwork between Linda and Wanda? Show that you noticed and express thanks. 

  • Try this: Plan a fun event to recognize and reward your team. Escape room, segway tour, wine and paint? Here’s a list of more team outing ideas. If you’re low on budget, consider grabbing some treats (breakfast burritos, doughnuts, cupcakes, froyo, bubble tea, smoothies)! 

Resources for more inspiration

Articles

• Harvard Business Review: How to Excel at Both Strategy and Execution by Paul Leinwand and Joachim Rotering 

• Inc.: The Truth About Strategy and Execution by Tim Leberecht 

BOOKS

• Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne 

• The Four Disciplines of Execution by Sean Covey 

• The Five Dysfunctions of a Team: A Leadership Fable by Patrick Lencioni

PODCASTS

• Worklife by Adam Grant: How to Rethink a Bad Decision (38m)

• HBR IdeaCast: Closing the Strategy-Execution Gap (16m 54s)

• Strategic Execution (podcast series of 6 episodes that provide insights on how to achieve success in change management)

Videos

• YouTube: How to Execute and Make Things Happen by Kim Perell (13m 34s)

• YouTube: Five Keys to Success for the Strategic Leader by Columbia Business School and Prof. Willie Pietersen (31m 23s)