IMD-OWP22-PostEvent-Report-V11[8]

First page Previous page 108-109 Next page Last page

ACTION POINTS

Carefully assess the alignment of the chosen initiatives with the high-level strategic choices that constitute your strategy.

2 3 4

Constitute the right portfolio of initiatives, balancing key factors such as time and complexity.

Never forget to carefully examine the resources that you will need to turn each of the shortlisted initiatives into a successful reality. Many companies underestimate these at the beginning, and this turns into one of the biggest hurdles in the implementation phase. Some key aspects to consider when executing a strategy include the creation of the right teamwith the right capabilities, the establishment of a detailed roadmap, and the careful management of all key stakeholders involved, trying to build and maintain momentum, and being ready to revise and adjust along the way.

WHAT IS YOUR SOLUTION? Companies can use tools such as the “Smarter Execution” board game I developed with my IMD colleague Bettina Buechel, which showcases the pain points of implementing a strategy by using a fictitious case built on a real company experience. The game also helps to identify the key capabilities that are required to increase the odds of success of any strategic implementation project.