STRATEGY IMPLEMENTATION

The Problem

A survey in Fortune Magazine highlighted that less than 10% of strategies that are effectively formulated are effectively executed. Whilst formulating competitive strategy is very important and is the right thing to do, it does not guarantee success and results. Further, according to analysts, most companies spend close to 40% of their capital budgets on investments that are not aligned with corporate strategies, primarily due to a lack of clarity and visibility of strategic and investment goals.

The Goal

To help organizations articulate and effectively implement strategies using a systematic approach in:

Strategic Planning / Reviews
Strategy Transformation (Balanced Scorecard)
Strategy Implementation (Strategic Initiatives Portfolio Management and Project and Resource Management)

“Strategy to results TM for business excellence”is about having visibility for decisions, to ensure the effective execution of your competitive strategies to achieve business goals and performance. visibility, communication and oversight.

The Approach

Our end to end approach begins with the articulation of organizational strategies. This entails defining an organisation’s strategic destination, and articulating evidence of success within a given timeframe. The strategies formulated as a result reflect the organisation’s choice of actions that the senior management team thinks will bring the organisation to its strategic destination.

The formulated strategy is next represented visually through a strategy map, and clearly specified using the Balanced Scorecard, communicating the senior management team’s priorities in terms of strategic measures and aligned strategic initiatives.

From the identified strategic areas of priority or themes, strategic initiatives portfolio management ensures that each portfolio of strategic initiatives is systematically and consistently managed and executed.

Project and Resource Management subsequently applies the knowledge, skills, tools and techniques to project activities and resources to meet project requirements. This is accomplished through the use of processes such as initiation, planning, execution, control and closing, to ensure strategic objectives are achieved.

The Benefit

Clearly articulated and formulated strategies provide the foundation for aligning the entire organization and its resources towards achieving its mission, vision and strategies, creating sustainable competitive advantage
The strategy articulation process fosters communication, buy-in and strategy ownership among the senior management team
The Balanced Scorecard clearly articulates how the strategies are going to be implemented in the organisation, with specific strategic objectives and the accompanying strategic measures to monitor progress and aligned strategic initiatives to achieve strategic objectives
The Balanced Scorecard approach promotes consensus, teamwork and strategy implementation ownership
The Balanced Scorecard approach links strategy and operations, making strategy achievable
Strategic initiatives portfolio management ensures that the correct mix of initiatives is initiated, grouped, resourced and managed, such that resources (finance and manpower) are prioritized and deployed to achieve the strategic objectives articulated
Strategic initiatives portfolio management provides implementation visibility to review portfolio performance and optimizes resources
Project and resource management facilitates the achievement of strategic objectives through reducing project risks, implementing and delivering projects within budget, on schedule, with planned resources and meeting quality specifications