Strategy Execution

Finally, the final instalment in this 6-Parts Strategic Initiative mini-series, with over 2 hours of information-packed content, including strategies, tips and valuable insights to help businesses Identify, Develop, Execute and Operationalize the correct Initiative for their business. Strategic Project aligned with the business Corporate Strategy –  its Vision, Mission, and Values.

Operationalize Strategic Initiatives

Operationalization of a Strategic Initiative is transitioning the output produced by the Strategic Initiative Project from the Project team to the Operations of the Business. In the Process to Operationalize a Strategic Initiative, we consider not just the product itself but the transfer of:

• Ownership – While the Product is being developed in the SI Project, the ownership resides with the project team; not just the SI Product but the accountability for its proper functioning, its maintenance, pilot operations, the ownership for operational use and training, and the ownership of the output generated. All of these must be transferred from the project team to the operations of the business during the Operationalization step of the SI process.
• Accountability – The person Accountable is the single person who oversees the entirety of the product created by the SI Project; including its functional and cross-functional applications, to deliver on its Purpose, as well as to ensure that it continues to deliver on its Purpose throughout the life of the product.
• Work Instruction – Initial Used-Case, Scenario, Application, and Standard Operating Procedure developed by the project team is handed over to the Operations of the business, who then assumes ownership and accountability for its maintenance to ensure that it correctly guides the product’s users.

The Transition Insights were discussed individually for each type of Strategic Initiative introduced in Part 1 of this series – The Create Strategic Initiative, The Fix or Repair Strategic Initiative and the Discontinue Strategic Initiative – This was intentional because even though the overarching themes are similar, because the devil is in the details, the actual Transition Insights differs according to the type of Strategic Initiative.

Execute Strategic Initiative Process

There is a stark difference between executing a Project, a Strategic Project, and the Process to Identify, Develop, Execute and Operationalize the right Projects to bridge Strategic Gaps. Projects are already perfectly defined with details on what to accomplish, instructions on how to measure success, a budget and a timeline. Despite Strategic Projects being difficult, risky, expensive undertakings with an inherent amount of unknowns, they are founded in the known. Whereas the Strategic Initiative Process starts with a statement or two, logical yet vague statement(s), and you have to develop the rest. Strategic Initiative Process is founded in the unknown with the opportunity, flexibility and responsibility to determine the future direction of the business, based on the guidelines provided in the business Corporate Strategy Statement(s). The leadership team is tasked with determining from the Corporate Strategy Statement(s) what to accomplish, what success is, what the challenges or obstacles are and what to do about it based on the current state of its micro and macro environments. This is either a privilege or a burden. It all depends on how comfortable you are with this responsibility and the Strategic Planning Process. This series was carefully crafted to transform this chaotic process into a logical, organized one you and the future team can follow confidently.

In this the final episode in this series, we discussed two groups of assumptions made as well as shared our insights on what you must consider when executing a Strategic Initiative Process; ending the series with 10 benefits of the Strategic Initiative Process, the benefits gained by the business when they apply NMCS Strategic Initiative Process.

Full details here:

 

Reference and Links

Check out our NMCS YouTube channel, for all videos published by us, including the Strategic Initiative Playlist for all 6 Strategic Initiative episodes.

Links to the rest of this series:

• Part 1: Strategic Initiative Part 1: What is Strategic Initiative? – NM Corporate Strategy
• Part 2: Strategic Initiative Part 2: Clarify Corporate Strategy & Identify Strategic Gaps – NM Corporate Strategy
• Part 3: Strategic Initiative Part 3: Design, Evaluate and Select Strategic Initiative. – NM Corporate Strategy
• Part 4: Strategic Initiative Part 4: To Plan and Mobilize Strategic Initiatives. – NM Corporate Strategy
• Part 5: Strategic Initiative Part 5: Execute Strategic Initiative – NM Corporate Strategy

We hope this Special Strategic Initiative mini-series help you to help grow the business.

 

Be Strategic!

Cheers!