Author: Daniel Rodellar, PMP
Be Strategic or Be Gone!
It is a good thing to create a strategy, it is even better to execute the strategy to get the expected benefit! In fact, only 2% of leaders/executives are confident that they will achieve their strategy’s objectives and goals.
Then, why such low rate of achievement? Thijs Wijnands has taken us on the journey to create a strategy, from the definition of strategy to the top 5 take away to prevent not achieving your goals!
The purpose of the strategy is the reason why we do things; the strategy defines how do we do things at global level; the tactics are how at the detail level; the goals are what we want to achieve on a high-level and finally the objectives are detailed view of what will be achieved.
Once the strategy is created there are 3 phases:
- Building a mutual understanding
- Shaping the choices
- Taking decisions
And on this part, Thijs describe the step-by-step on how to engage your colleagues to get them on board.
We learnt that a project is successful if customers like it, but a failure from a financial point of view, like in the case of the Airbus A380. There the strategy was to make bigger planes, but it ended up been not practical to operate.
You need to engage and lead strategic conversation to get from the “yes, but” (French version is the “Oui, mais” that you can write as 8 mai ) to the “yes, and…” that is a true dialogue.
Thijs was putting the focus on identifying, engaging and keeping engaged the people and how to talk with them which is the most essential for achieving the strategic goals and objectives.
All this considering the 5 Ps: Pace, Points, People, Presentation and Place. You will look at the problem from different angles, and you will deal with complexity. And on the five beliefs that Thijs shared with us, I’ll take the first one: “There is no perfect solution, done is better than perfect”.
The strategy is made of the strategy map and a balanced scorecard, highlighting the perspective (identify the benefit and reason we do it), the focus (critical success factors) and the KPI defined.
With all this you are ready to build your cockpit and remember to be open for feedback!
We ended up with 5 takeaways that should be applied to make us succeed on strategy implementation.
A final note, do you know the top 5 for failure?
- Culture of the company
- Not enough or bad resources allocated
- Insufficient agility/unwilling to change
- External developments not taken into account
- Strategy poorly understood
If you work on all these 5 to avoid them, you are on the best path to strategize the right way!
Thijs was asked some questions about what type of mechanisms to put in place to review the strategy. He proposed to review complexity and difficulty to execute certain projects, to have very frequent progress checks by management and to foster discussions at all levels to get buy-in.
Is there a strategy lifecycle? Was also asked by the audience. It depends on the business you are in. It tends to follow the business cycles of the economy (3 years to 5 years).
It was a great event and presentation on February 21, 2019 in Geneva, and we should not forget that we must change, no matter what, we will, and there has to be something in the strategic vision that is engaging to succeed!