{"id":2882,"date":"2019-09-30T14:11:41","date_gmt":"2019-09-30T14:11:41","guid":{"rendered":"https:\/\/www.iese.edu\/standout\/?p=2882"},"modified":"2026-05-04T12:39:18","modified_gmt":"2026-05-04T12:39:18","slug":"successful-strategy-execution","status":"publish","type":"post","link":"https:\/\/www.iese.edu\/standout\/successful-strategy-execution\/","title":{"rendered":"7 keys for successful strategy execution"},"content":{"rendered":"<div class=\"wpb-content-wrapper\" id=\"wpb-content-root\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]When faced with steering their firms in a new direction, CEOs can take months to craft a corporate strategy yet still fail to reach their destination. What\u2019s missing to successfully translate strategy into action?<\/p>\n<p>Beyond blockbuster ideas and the best-laid plans, successful strategic leadership is built from the ground up, from thousands of concrete actions interweaved into the firm\u2019s day-to-day.<\/p>\n<p><strong>\u201cFormulation and implementation shouldn\u2019t be considered as separate processes,\u201d<\/strong> says <strong>天美传媒 Prof. <a href=\"https:\/\/www.iese.edu\/faculty-research\/faculty\/fabrizio-ferraro\/\" rel=\"noopener noreferrer\">Fabrizio Ferraro<\/a><\/strong>. \u201cMore importantly, they are not the outcome of a specific set of decisions, but rather the cumulative result of all of the decisions made by the executive team.\u201d<\/p>\n<p>When deliberating decisions, senior leaders should consider the strategic, operational and political implications, says Prof. Ferraro. Decisions that appear purely operational might actually have important strategic and political consequences. For each potential decision, executives should ask:<\/p>\n<ul>\n<li><em>Does it promote the long-term implementation of our strategy?<\/em><\/li>\n<li><em>Does it address operational priorities and demands?<\/em><\/li>\n<li><em>Does it align with the demands of critical stakeholders and strengthen their political position?<\/em><\/li>\n<\/ul>\n<p>Working within this framework, Prof. Ferraro highlights seven areas that CEOs should zero in on when charting new paths for their firms:<\/p>\n<h3><strong><span class=\"subrat\">1.<\/span> Resource development and allocation<\/strong><\/h3>\n<p>Strategic planning and budgeting are moments of truth when the firm decides where to allocate its finite resources, defined in the broadest sense of the word: financial resources, physical resources, human resources and intangible resources such as time and attention.<\/p>\n<h3><strong><span class=\"subrat\">2.<\/span> Organizational structure<\/strong><\/h3>\n<p>To effectively address future challenges, some firms will need to reorganize their activities, redraw reporting lines and recalibrate as the strategy progresses. Structural decisions are key for companies focused on critical strategic challenges, but new structures should be considered as prototypes to revise as priorities shift.<\/p>\n<h3><strong><span class=\"subrat\">3.<\/span> Talent pool<\/strong><\/h3>\n<p>People are the linchpin for any change initiative. The first order of business for GMs is ensuring a solid executive team that\u2019s aligned with the corporate strategy. They should also stay in the loop on other staffing decisions, particularly those that directly impact the new corporate direction.<\/p>\n<h3><strong><span class=\"subrat\">4.<\/span> Management systems and processes<\/strong><\/h3>\n<p>Although less noticeable than people and structures, management systems can be more crucial to winning strategies since they influence how things get actually done in organizations. Corporate, people and operational systems need to work in tandem to drive effective strategy implementation.<\/p>\n<h3><strong><span class=\"subrat\">5.<\/span> Stakeholder engagement<\/strong><\/h3>\n<p>Internal and external stakeholders play a pivotal role in the success or failure of corporate strategy in function with their alignment and level of understanding of the strategy. CEOs need to identify key stakeholder groups and map out their expectations to make sure they will help, not hinder, the process.<\/p>\n<h3><strong><span class=\"subrat\">6.<\/span> Informal power structures<\/strong><\/h3>\n<p>Since organizations are ultimately political coalitions, a CEO\u2019s success will depend largely on their ability to cultivate relationships with people that support and advance their decisions. A keen understanding of the political landscape and sources of power within the organization is paramount.<\/p>\n<h3><strong><span class=\"subrat\">7.<\/span> Communication<\/strong><\/h3>\n<p>To be successful, CEOs should spend an inordinate amount of time communicating to both internal and external stakeholders \u2013 employees, the corporate board, clients, business partners, the media \u2013 and the list goes on. They need to be adept at distilling the core of a strategy down to its essence in easy-to-understand language customized for each stakeholder.<\/p>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.iese.edu\/focused\/strategy-leadership-execution\/?utm_source=redes&amp;utm_medium=social&amp;utm_campaign=contentteam\"><strong>Strategy in Action: Leadership &amp; Execution <\/strong><\/a>is an intensive program that helps senior decision-makers build influence and drive corporate strategies within their organizations. The program is offered in two different formats, live online and on-campus at 天美传媒 Barcelona.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]When faced with steering their firms in a new direction, CEOs can take months to craft a corporate strategy&#8230;<\/p>\n","protected":false},"author":4,"featured_media":2887,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107,8],"tags":[57],"class_list":["post-2882","post","type-post","status-publish","format-standard","has-post-thumbnail","category-general","category-senior-executives","tag-skills"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Strategy Execution: 7 keys to succeed<\/title>\n<meta name=\"description\" content=\"Here&#039;s what you should 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