Strategy Execution Playbook

Introduction

Strategy Execution Playbook

Given that the choice falls on you to some degree (unless you are constrained by what someone more senior prescribes), it is important that you understand your options before making a choice. The greater your knowledge of the tool options upfront, the more you can try to obtain the best fit between the situation and the tool you want to employ. In the application of tools, remember that this provides a space for exchange with your colleagues and that a common language provides the ground for better conversations across functions, hierarchies or geographies. As there is often more than one tool that makes sense to use, be aware that certain tools will focus your attention on some strategic issues more than others. This means that positions or viewpoints are more likely to come to the forefront, while others can become blind spots. We often look at the success of a tool from two perspectives: one that is widely adopted; but more importantly, one that leads to the right decision. For a tool to lead to a good decision, it should provoke new explorations and enable interim decisions that allow you to move forward with a project ; it should satisfy either internal or external clients ; it should allow you to demonstrate competence ; and it should ideally highlight, surface and help resolve the different viewpoints or positions that people might have relative to the decision to be made.

Throughout the book, we are introducing three types of tools : 1 Strategic and analytical tools 2 Operational efficiency tools 3 Project and change management tools While strategic and analytical tools are the most useful for exploratory growth initiatives, operational efficiency tools are useful for business efficiency initiatives, while project and change management tools are useful for all initiatives. Remember there are other tools available, so explore those we have listed and test and use them if you find them appropriate in your context. Ultimately, we hope this Playbook helps you on your journey as a critical thinker and executor of your strategic initiative! Red Threads in the Playbook As you go through the Playbook, you will notice the following red threads: 1. The diverge/converge pattern. To avoid coming to a conclusion too early, teams often need to diverge in their thinking before converging. This is often done at each phase, i.e. while exploring, developing and doing. During the EXPLORE phase, the divergence involves understanding the context from multiple perspectives before developing hypotheses. In the DEVELOP phase, it involves ideating solutions and diverging before making choices. In the DO phase, it involves learning from pilots before scaling up the implementation. Finally, in the EMBED phase, it involves ensuring that the future solution is fully institutionalized.

Diverge

Converge

Diverge

Converge

Diverge

Converge

Create Choices

Make Choices

Create Choices

Make Choices

Create Choices

Make Choices

Embed

Develop

Do

Explore

Figure 0.1: Diverge/Converge pattern

2. Efficiency and growth initiatives. Performance improvements are typically achieved through two different types of initiatives: business efficiency and growth initiatives. Business efficiency (also sometimes called "exploitative") initiatives derive their benefits from continuous improvements to existing processes or systems often achieved in the short term. Growth (also sometimes called "exploratory") initiatives are about exploring new possibilities that will drive new revenues through new products and/or services in the longer term. While some customer-focused initiatives could deliver incremental revenues and, therefore, do not neatly fall into one of the two types of initiatives, this is a helpful way of thinking about initiatives as, typically, different analyses are required to successfully achieve the expected results.

3. Change management. Any strategic initiative is essentially a process of transforming from one state to another. Irrespective of the complexity of the initiative, there is a need to involve stakeholders throughout the change management process. As you go through this Playbook, we will elaborate on the change management steps along the way and repeatedly point toward the need to also get buyin for any changes to the business that you suggest.

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