Senior leaders know all too well the unrelenting demands on their time – from one-on-one meetings, to direct report meetings, to public speaking events, to strategy sessions, to finance sessions, to HR issues, to legal issues, to board meetings … the list goes on.
How often does the typical employee think about corporate strategy compared to the demands of day-to-day work? For some employees it’s as infrequent as an intermittent town hall meeting. While the necessary pivots many businesses had to manage as a result of the Covid-19 Pandemic may have created opportunities for more frequent communication between employees and senior leaders, the demands of each workday can easily outshine the greater corporate strategy. Yet – the ultimate measure of success is whether a corporation achieves its strategic goals.
What is Strategy Execution? We’ve all heard the term strategy execution many times. It’s bandied about by management consultants and leadership gurus, but what exactly is meant by it? Let’s begin with a definition and then consider the skills and behaviors required to do it well.
Over the past fifteen years, I’ve led dozens of simulation-based workshops focused on executing strategy. I’ve learned much from the hundreds of leaders I’ve had the pleasure of teaching. But if there’s one thing I’ve learned – and one universal truth – that is common among the many companies with whom I’ve worked, it’s that there are “more good ideas than resources available to pursue them."
Strategic thinking is always important; it’s a critical foundation skill for effective leaders. But in crucible leadership moments like the present, it has outsized importance.
How to Keep your Leadership Healthy Through the Coronavirus Crisis The coronavirus disease 2019 (COVID-19) is top of mind for everyone. While our first priorities are the health and safety of our employees and their families, we also need to manage the business impact. Travel bans and cost containment strategies are putting pressure on critical business activities, including employee development. Ironically this type of disruption can delay training programs at a time when employees and leaders need them most. The recent infectious outbreak only enhances the VUCA (volatile, uncertain, complex and ambiguous) nature of our work. Navigating the delicate balancing act of business as usual with crisis management will be far easier for leaders who can:
CHALLENGE: To accelerate its discussion of corporate strategy, a global industrial manufacturing leader engaged IE to embed a half-day, simulation-based learning experience into its annual leadership forum for the top 100+ executives.