Planning a strategy and executing it are two different beasts. When planning a strategy, you assume variables and prepare contingencies, while executing them means you have to make decisions on the fly. Quite frankly, many companies struggle with strategy execution. How do you avoid strategy execution woes? What are some factors to note when observing your strategy's performance? In this episode, I discuss what companies should look for when executing a strategy. I explain the necessary steps involved in execution. I outline how to define your strategy and highlight what examples of KPIs to measure. I describe how the innovations department can contribute to the execution. I also detail how to get your entire organization to understand your strategy.
"Companies struggle on the execution of strategy." - Paul Heller
This week on Innovation Talks:
- How many times you should review your strategy
- What innovation professionals can do to improve strategy results
- Why too many strategies are ineffective
- Defining your organization's strategy
- How to measure the progress of your strategy
- How to achieve your action plan
- The data you should be collecting for your strategy
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