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– A precarious skills gap is emerging among leaders around the world – that is, they lack the skills to implement the strategies they create. .
Abstract
Purpose
A precarious skills gap is emerging among leaders around the world – that is, they lack the skills to implement the strategies they create. .
Design/methodology/approach
Offers a viewpoint based on the author's experience.
Findings
Organizations that recognize this skills gap are providing the required training. The training addresses how leaders must be able to craft and implement strategy as well as stay constantly committed to its implementation through follow up. They are also responsible for creating the right conditions for the implementation and making adjustments as required
Practical implications
Offers five practical recommendations for successful strategy implementation.
Originality/value
This paper argues that the current generation of leaders has been taught how to craft strategy but not how to execute it.
Details
Keywords
In the last few years the field of strategy implementation has been growing. Much of the current literature explains the “why”. This paper aims to shift the thinking from the…
Abstract
Purpose
In the last few years the field of strategy implementation has been growing. Much of the current literature explains the “why”. This paper aims to shift the thinking from the “why” to the “how”. Leaders are now beginning to state that they understand that it is important to implement as well as design the strategy and are asking “What do I need to do differently” so as not to repeat the mistakes of the past and avoid being a casualty of the “9 out of 10 failure rate”.
Design/methodology/approach
The paper is based on the findings from eight years of interviewing over 300 leaders about the implementation of their strategy. It is also based on the research the author has done for his new book Beyond Strategy, to be published shortly.
Findings
The key finding is that leaders must adopt six mind shifts.
Research limitations/implications
There is very little research in the field of strategy implementation. Bridges (the company run by the author) is one of the few to have been researching the field for eight years.
Practical implications
The paper targets the six mind shifts leaders must have in order to implement their strategy.
Originality/value
The value of the paper is that there is very little published writing on the field of strategy implementation and even less on how to implement it. There are few tools and techniques available in the field, especially when compared with how you create a strategy.
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Keywords
Challenges the notion that people resist change and puts forward a strategy for getting the majority of people in an organisation to support a change initiative.
Abstract
Purpose
Challenges the notion that people resist change and puts forward a strategy for getting the majority of people in an organisation to support a change initiative.
Design/methodology/approach
Identifies four main groups within organisations – saboteurs, groupies, double agents and mavericks – and puts forward opinions on how best to lead each group.
Findings
Argues that mavericks need to be supported and rewarded for their contributions, groupies must be driven and encouraged, double agents have to be persuaded and convinced and saboteurs must be handled carefully and effectively and must not be allowed to become the focal point of leadership efforts.
Practical implications
Reveals that, with the right management styles, most people will support or go along with organisational changes.
Originality/value
Contends that leaders must lead from the front when dealing with saboteurs, lead from the middle with groupies, and lead from behind with mavericks. Double agents can be convinced only through actions.
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The purpose of this paper is to examine investment market strategy and risk.
Abstract
Purpose
The purpose of this paper is to examine investment market strategy and risk.
Design/methodology/approach
The paper presents a number of examples of companies which have been had either success or failure, and discusses the lessons learned.
Findings
The paper finds that it is important to apply the a good strategy to risk management as well as investing in strategy creation and implementation.
Originality/value
The paper provides useful information on risk management strategy.
Details
Keywords
In business, the statistic that nine out of ten strategies fail has gone viral over the last couple of years. A prime reason for this is that leaders are under intense pressure in…
Abstract
Purpose
In business, the statistic that nine out of ten strategies fail has gone viral over the last couple of years. A prime reason for this is that leaders are under intense pressure in the current economic conditions to deliver on their strategy promises to shareholders. This article offers advice on how to execute a successful strategy within your organization.
Design/methodology/approach
Gives advice for businesses that are trying to implement their next strategy, highlighting the importance of learning from past mistakes and making the right choices.
Findings
Leaders must recognize that strategy implementation is extremely difficult and that they habitually underestimate its challenges. They perceive crafting strategy as the harder challenge and therefore by default blame the toughest area when it fails. Executing strategy, however, is just as tough as crafting the right strategy.
Practical implications
Provides tangible strategies that managers can adopt to enhance the effectiveness of their business strategy.
Originality/value
This article offers sage advice on how to implement a successful strategy, focusing on some of the trends that will start to appear over the next few years.
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Keywords
Robin Speculand and Ruchira Chaudhary
Vision, Mission and Values are buzzwords that many leaders have grasped on to and attempted to adopt. Most, however, have failed to inculcate the values. What is missing is a…
Abstract
Purpose
Vision, Mission and Values are buzzwords that many leaders have grasped on to and attempted to adopt. Most, however, have failed to inculcate the values. What is missing is a model to translate values into actions and behviours.
Design/methodology/approach
The Value Inculcation Model introduces a four step approach that links Values to Organizational Performance. It is based on ten years research and work by Bridges Business Consultancy Int.
Findings
By identifying core values, changing attitudes and encouraging new behaviours, the organisation will start to transform.
Originality/value
Identifying the values for an organisation is only step one of a four step process. To successfully become a value‐driven organisation, leaders must translate core values into what it means to staff member's attitude and behaviours and then consider the overall impact to Organisational performance.
Details