At one time, companies used to draw up 3-year and 5-year business plans with impunity. That approach simply won’t fly in today’s business world. Flexibility and agility rule – and business leaders have to trust their front-line employees will be able to choose a strategy that will work in the here and now.
There are four elements which must be in place for your organization to execute strategy effectively:
• Leverage – you need to have people and systems in place which will allow you to execute your strategy effectively.
• Environment – you need a corporate culture and workplace which supports your strategic priorities.
• Alignment – your people’s daily activities need to be contributing to the accomplishment of your goals rather than working against that.
• Drive – you need teams of engaged and motivated employees who are agile enough to seize new market opportunities.
Execution has become the true strategy for most businesses today. It’s not what you know or even what you have that counts any more. What you do is your business strategy.
“In today’s business world, execution itself is the only strategy that matters. A decent strategy, brilliantly executed, will trump a brilliant strategy, poorly executed. As leaders and followers form tighter partnerships, the companies with the stellar strategies that follow the principles of the L-E-A-D Formula will maintain the conditions necessary to hurtle forward. Don’t lose sight of what truly matters in the day-to-day battles. Execution truly is the strategy that will propel your organization to success.”