February 2015 Newsletter by Dick Albu, Albu Consulting LLC
What is a Strategy Focused Organization?
The ultimate prize for all NFL football teams is a Super Bowl win. There is no greater reward for a well planned and executed season. Management, coaches, and players need to be aligned and focused for every game. They also need to be committed to the overall team strategy. Successful teams embrace the strategy focused organization model.
What can business owners and CEO’s learn from these NFL football teams? A strategy focused organization understands that strategy is dynamic and it has adapted a continuous strategy management process of addressing issues and weaknesses, leveraging strengths, and exploiting opportunities on a timely basis. As with a winning football team, the ability to successfully execute the game plan is critical to business owners and their management teams. Here are three key elements for successful strategy execution.
Mobilize and engage the senior team – Alignment and commitment from the senior team is an essential ingredient to success. Without complete buy-in from the leadership team, it is a sure bet that little change will happen. Management and coaches all need to be on the same page, guided by a strategy that everyone has bought into. Involving and getting buy in from all managers through a collaborative process is critical to creating a strategy focused organization. Keep in mind that this type of engagement does not happen overnight. Establishing a strategy focused organization happens over years, not weeks or months.
Translate strategy to action in a way everyone can understand – Use a simple system that everyone can understand to explain who needs to do what by when. Successful coaches make game plans easy to understand and make execution as flawless possible. In our experience, a simple framework where objectives, initiatives and tactics are aligned creates a great deal of clarity and ensures engagement. Employees get energized when they understand how they can contribute to the success of the strategy.
Embed the strategy execution process into day-to-day business operations – Organizations need a predictive, consistent, and continuous methodology to manage strategy execution. Coaches are constantly making adjustments to their strategy as the season progresses because they appreciate that the football season is dynamic. New opportunities or critical issues come up at any time, like an injury that leaves you without your starting quarterback. Organizations need to think in the same way. Strategy requires a dynamic and continuous process with consistent follow up throughout the year with the entire organization. Our approach with clients requires an ongoing execution process of monthly, quarterly, and annual meetings to measure, review progress and adapt strategy as necessary.
There are obviously many more aspects to creating a strategy focused organization that can lead change and improve performance. Skipping any of these elements will prevent any company from achieving success. We would like to hear your reaction to these important points, and let us know how you are creating a strategy focused organization.
Dick Albu is the founder and president of Albu consulting LLC, a strategy management consulting firm focused on engaging and energizing leadership teams of middle market private and family businesses. With offices in Stamford, CT, the firm is dedicated to helping its clients formulate robust business strategies and follow through on execution of key strategic initiatives. Dick Albu can be reached at 203-321-2147 or RAlbu@albuconsulting.com. Rob Krist, Managing Director can be reached at RKrist@albuconsulting.com. Please visit Albu Consulting’s website for more information at www.albuconsulting.com.
Quotes:
“Success doesn’t necessarily come from breakthrough innovation, but from flawless execution. A great strategy alone won’t win a game or a battle; the win comes from basic blocking and tackling.”
Naveen Jain
Originally posted by Ricardo Albu on February 26, 2015 at 11:46am