Archive for March, 2012
Developing a strategy is fine but if you are not going to implement it properly then it is as often quoted – “vision without action is just a dream”
I read a good summary by American Daniel Kelley when the question was proposed to him “What is the most critical success factor for strategic management” and thought I should share it with you.
It can all be summed up in one word: Execution
Your Strategic Plan is where you DEFINE who you are, what you do and where you want to go. Strategic Goals are established; the Investment/Financial Plan is set; and innovation initiatives are identified and planned. Your Strategic Plan is your “call to action” which the company will follow to achieve your vision.
Your Operating Plan is your “action plan”. It is where your strategic plan is EXECUTED. It defines the measurable goals and their supporting initiatives, metrics, responsibilities and accountabilities are set in place for the next 3 years, 1 year and 90 days. Resources, human and otherwise, are planned and budgeted; innovation and growth strategies are funded; everyone in the company becomes aligned with your Core Values, and they support your Vision. Lastly, and most importantly, a Management System is put in place which focuses each department and each employee on their assigned priorities (which are tied to the Goals), measures and manages performance in real time, and demands accountability at the enterprise, department and employee level.
“A goal without a plan is just a wish” ― Antoine de Saint-Exupéry, The Little Prince
So there it is, get the implementation right, then the vision will be achieved.