One of the most staggering statistics that have come to light is the fact that almost 90% of all business strategies never make it all the way through to implementation. For one reason or another, business strategies seem to fall by the wayside and sometimes this is a horrible loss because that strategy was absolutely brilliant. Here, Zip Berkeley look at executing strategies effectively based on research and a proven track record of success.
“The first step in implementing a strategy,” says Kai Petrich, Zip Berkeley’s director, “is to come up with ideas. All strategies are based on an idea, a vision of what ‘could be.’ This vision needs to be defined clearly so that others can ‘see’ what you are seeing to make it easier to ensure their participation. Once stakeholders believe in your idea, they become engaged. With their participation, it is so much easier to implement strategies you build from that initial idea.”
This is where the actual strategy takes form. There is an idea, a vision for the future and people to help execute the strategy. Unfortunately, without a plan of action, the strategy will soon fall apart. Now it is time to look at how to put the idea and vision into action. This means investing time and money into the project.
Putting all these into perspective is often referred to as synthesizing the project so that it is aligned with the company’s portfolio. It needs to be in keeping with the direction in which the company is moving and here is often where the strategy begins to fall apart. Unless you have clearly defined the vision, it is next to impossible to align the initial idea with the direction in which the company is going forward. Fortunately, by engaging stakeholders, you can easily develop an effort with contributions from members. What you may lack in vision, another may ‘see,’ and so on.
Execution of strategies is all about taking them from that initial concept to the stage where everyone has a role to play. Leaders need to be synthesizers so that they can put all the parts together as they move forward and that is how strategies are effectively executed. Unless there is a clearly defined idea, a future vision, key players engaged in the strategy and a leader who is able to synthesize all these parts, most strategies fall apart before they see the light of day. Zip Berkeley has used this system of executing strategies for their clients, and their track record shows just how effective it is.