Navigating from strategy to execution, companies face an apparent disconnect between the expectations of various levels in an organization, starting at the top. The research reveals that CEOs are likely to significantly overestimate their company’s ability to execute strategy, and may be missing opportunities to take the necessary actions to drive effective execution and skill development. More specifically, considering managers’ ability to lead successful execution:
- 39% of CEOs are highly confident
- 12% of other C-suite executives agree
- 24% of managers share the same positive outlook.
Moreover, CEOs are also more likely to view their leaders as hands-on—53% vs. 31% of other C-suite members and 37% of managers. The research explores how to maximize the full potential of strategic initiatives by focusing on the people part of the execution equation.
Absolutely! We could not agree more.
Top performing companies – yielding significantly higher revenue growth, profitability and market share – take the necessary actions to ensure that employees are aligned to the company strategy, have the right mindset, and are equipped with the skills and capabilities necessary to execute. However, the research suggests that not all strategy execution drivers are equally important. The study identified capability as the single most critical predictor of an organization’s success.
We agree and would add that execution teams rarely have group norms and behavior identified to make implementation possible without considerable conflict. This is avoidable.
To ensure superior strategy execution, companies must look beyond initiatives that build alignment – and proactively facilitate skill and behavior development and deep commitment by immersing leaders in the strategy. Traditional strategy communication and “push” methods alone – town hall meetings and leadership presentations – are no longer enough to maximize results.
At TIGERS we know that strategy execution is comprehensive and demands a robust response from engaged and committed employees. Rommin Adl, BTS executive vice president adds. “To maximize impact, organizations are best advised to embed execution plans early in the strategy formulation process and target initiatives that directly address capability gaps, develop leaders’ mindset and commitment, and build company-wide alignment.”
Respondents to the survey represented a diverse range of geographies and company sizes across 19 industries and 15 business functions. Forty-three percent of respondents were within the C-suite.
Copyright TIGERS Success Series by Dianne Crampton
Experience the team catalytic resources that lead to high performance team action plans for strategy execution during the 2-day 6 Principles That Build High Performance Teams workshop. We will guide you through the steps and processes to build highly effective team actions plans.