As you’ll recall in my last post, I shared the four ways management (unwittingly) sabotages strategy implementation. These four major barriers can be succinctly classified in the following way:
Only 5% of your workforce understands the strategy
Only 25% of your managers have incentives linked to strategy
85% of executive teams spend less than one hour per month discussing strategy and there is no strategic intervention; which means they aren’t:
- measuring to ensure timely goal achievement
- developing corrective plans or
- capitalizing on resulting opportunities
60% of organizations aren’t linking budgets to strategy
The Vision Barrier results when the Vision and Strategy are not actionable. Study after study reveals that the workforce (whether you have 3 or 30,000 employees) does not understand strategy, especially how it relates to them and what they do every day. Sadly, only *59% of senior management teams believe they have a clear understanding of how to implement the vision and only 7% of middle managers possess this understanding.
Your organization’s Vision and Strategy must be translated into terms that are understood by your people and into steps they can take action upon in a timely way.
Time consuming? Yes! Worthwhile? Absolutely. You can bet the top performers in your space are continually trying to improve.
Here are 6 steps you can take to improve strategic execution in your organization.
- Translate the strategy into specific strategic objectives (for each unit and/or department)
- Create specific clarity around your organization’s leading goals. For instance, within your “Customer Objectives” the goal may be to “grow sales”
- Management consesus – management must know how it will grow sales before your people will know how to achieve this goal
- Identify measures that indicate how to track progress
- Identify targets that quantify the measure
- Establish deadlines for achieving incremental target goals
- Communicate the goal, educate and inform your people about this goal
- Work with your people to define and regularly measure and refine the activity required to achieve deadline driven goals and targets
- Identify resources, people and processes that need to be linked, developed or refined to support goal achievement
- Provide consistent, regular reviews, feedback and learning
Drop us a line to let us know how you are elimating the Vision Barrier in your organization.
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Sheri’ Taber, CEO, The Peak Performance Group, Inc., Management Consultants, Strategy and Execution Experts
*Kaplan and Norton. The Balanced Scorecard. Boston, MA: HBS Press, 1996.