What gets measured gets done! It's a simple truth that's common knowledge. That's why careful action, consistency, and transparency in measuring and communicating progress are all vital to successful Strategy Execution Management. Measurements drive the right actions, which in turn drive the necessary changes. It’s therefore crucial that KPIs be formulated correctly.
Despite the availability of modern digital tools for strategy execution, many companies are reluctant to use them. This is surprising, considering how difficult it is for both public and private organizations to implement and execute their strategic priorities. In this article, I dive a little deeper into why the old approach isn't producing the desired results, why it's an ever-growing problem, and how technology can solve it.
You often hear of making a “tactical decision" to change a situation for the better—or to prevent something from happening. However, tactics cannot stand alone but are always linked to an overall strategy. So, what’s the difference between a strategy and a tactic? Read on…
In an earlier post, we showed how what gets measured gets done! But which Key Performance Indicators would be most useful for your organization? Stakeholders who aren’t involved in the day-to-day operations of the company need information that’s a balance between overview and detail.
Formulating a strategy is about insight, direction, and the right solution. According to the greatest pioneers in strategy development research, there are three generic strategies for maintaining a competitive position in the market. The three aren’t mutually exclusive, but a serious strategic effort will prioritize one over the other two.
