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Committee: Strategy & Execution
Change is the only constant and today’s leaders across the world need change insight based strategy to stay on course with their business plan. In today’s complex and turbulent business environment, good strategy is a deliberated road map and direction , but its impeccable execution is key to create desired outcomes. 90 percent of business organisations fail to reach their strategic goals, due to the gap between strategic planning and execution (Harvard Business School). Our domain experts in the Strategy & Execution Committee will inspire the leaders of tomorrow with winning business strategy solutions and next practices through original content- provoke them to discover renewed and fresh approach business strategies. Offer future fit execution methods for strategies, while creating  effective global social impact. Our members will have access to knowledge in this critical domain through our various patented IPs, domain related trending top IPs, subject related workshops and DLC Global Summits


			


			












	

			

	

		
73 Questions with Vyom Shah
	

	

		
Vyom Shah talks about his journey of transforming from a businessman to delving into food media. Vyom shares his strategies innovated by him to live his Entrepreneural dream of starting a food media company with the sole intention of helping the underprivileged.

	


	

			








	

			

	

		
Despite a perfect strategy how things can go wrong
	

	

		
To understand, “Despite a perfect strategy how things can go wrong”, one needs to understand what it takes to “formulate a perfect Strategy and how to Execute the same perfectly”.


 


How to formulate a perfect strategy:


A perfect strategy formulation is a process of using available knowledge to document the intended direction of a business and the actionable steps to reach its goals.


A well thought-out strategy:


    

  1. Starts with a Purpose.
    2. 

  2. Considers Current Events.
    3. 

  3. Takes into account internal and external Data, Case Studies and Trends.
    4. 

  4. Has Goals well defined and effectively communicated throughout the organization.
    5. 

  5. Has the flexibility to adapt to changes.
    6. 



 


How to execute a strategy perfectly:


Good strategy execution requires a team effort, wherein all managers have strategy-executing responsibility in their areas of authority and all employees are active participants in the strategy execution process.


A good strategy execution:


    

  1. Ensures all stakeholders and decision-makers are in unison and in agreement with the strategic plan.
    2. 

  2. Aligns jobs to the strategy, “right man for the job”.
    3. 

  3. Empowers employees thru clear communication.
    4. 

  4. Measures, tracks, and monitors performance thru well-defined KPIs.
    5. 

  5. Balances Innovation and Control.
    6. 



 


So, coming back to, “Despite a perfect strategy how things can go wrong”.


The simple answer would be that successfully executing a good strategy is just exceptionally hard. But that is hardly a gratifying answer. There are many other things that are exceptionally hard, but where we succeed, nevertheless.


Therefore, to start with, we need to have a good understanding of the problems that organizations face when executing their strategy. When we know these problems, we understand the underlying reasons why strategy execution fails, which helps us find the solutions.


Though there could be numerous reasons for problems in Strategy Execution, in my experience the following 5 key reasons are usually the culprit:


    

  1. No or insufficient communication
    2. 

  2. Insufficient or inadequate resources
    3. 

  3. Insufficient management capabilities
    4. 

  4. Strategy is not adapted to changes
    5. 

  5. Poor leadership
    6. 



To conclude, Strategy Execution has always been the essential complement of Strategy Formulation. In an intensely competitive business environment and with the increasing speed of technology-enabled change, the importance of strategy implementation has increased exponentially.


Senior executives recognize the importance of strategy implementation, but a majority admit that their companies fall short. Executing strategic initiatives successfully is extremely “essential” for an organizations’ competitiveness. Most firms often struggle to bridge the gap between strategy formulation and its day-to-day implementation. Poor implementation means that a company’s stated strategy fails to shape what happens in practice.


There is no silver bullet to achieve better strategic implementation, but companies that rate themselves highest in this area share a range of characteristics. They report greater levels of C-suite involvement, better feedback mechanisms, more resourcing—particularly providing human resources—for initiatives and more-robust processes.


 


To sign off, “Vision without action is a daydream. Action with without vision is a nightmare.”   —Japanese proverb