Having a strategic plan is essential for any business to succeed, but it's only effective if it's implemented correctly. Adequate human and financial resources are key to successful implementation, as well as assigning the right team, being agile and prepared to adapt, engaging employees, inspiring action, integrating strategic priorities into everything you do, and linking strategies of business units and support units together. In this article, we'll provide an overview of how to implement a strategy, as well as a step-by-step guide to bring about change in your business more effectively.
Assign the Right TeamThe first step in implementing a strategy is to assign the team responsible for its execution.
This team should be composed of people who have the skills and knowledge necessary to carry out the plan. It's also important to ensure that everyone on the team understands their role and responsibilities.
Be Agile and AdaptableIt's important to be agile and prepared to adapt when implementing a strategy. Harvard Business School professor David Garvin states that successful implementation involves “delivering what is planned or promised on time, within budget, with quality and with minimal variability, even in the face of unexpected events and contingencies.” This means that you should be prepared to make changes if needed, as well as be open to feedback from your team.
Engage Employees and Inspire ActionEngaging your employees is essential for successful implementation. Make sure that everyone understands the company's strategy and how it relates to their role. Encourage them to take ownership of their tasks and provide them with the resources they need to succeed. You can also use team meetings and other activities to keep everyone motivated and inspired.
Integrate Strategic PrioritiesIntegrating your strategic priorities into everything you do is key for successful implementation. This includes budgeting, decision-making, and other processes. Make sure that all documents and tools used to track strategic performance are up-to-date with any changes in corporate strategy.
Link Strategies of Business UnitsIt's important to ensure that the strategies of the business unit and the support unit are linked together and to the company's overall strategy.
This will help ensure that everyone is working towards the same goal and that any changes in corporate strategy are reflected in all documents and tools used for tracking performance.