Strategic Initiative Part 5: Execute Strategic Initiative
Execute Strategic Initiative is Part 5 of a 6-part miniseries, discussing a step-by-step process to Identify, Develop, Execute and Operationalize Growth & Transformation Initiatives that further the Achievement of the business Corporate Strategy.
A step-by-step process to Identify, Develop, Execute and Operationalize Growth & Transformation Initiative that Furthers the Achievement of the business Corporate Strategy.
Previous Post Recap
I have to admit this has been quite an exciting journey thus far, especially if you’re a strategy nerd like myself. If you like Strategy, Strategic Planning and Strategy Execution. In Parts 1 to 3, we:
- Unpacking the business Corporate Strategy to extract Core Goals
- Interpreted the Core Goals to define Success Principles, which are word descriptions of what success is.
- Then, use these Success Principles to develop a Strategic Path forward and specific Corporate Goals for the business.
After, we proceeded to become highly uncomfortable in two ways:
- First, analyze the business’s current state to define Strategic gaps, and
- Secondly, we analyzed the business Limitations to define possible Strategic Initiatives, which are the Strategic Gaps the business is willing and able to execute
Part 4 shifted the focus from Strategic Initiative Planning to Project Management Planning. Check out this episode to find out what and why we recommended developing specific project management details before the business takes any action to find investors; and before the business takes any action to secure resources for the Project.
Execute Strategic Initiative Key Insights
We understand we cannot Project Manage a project on a post or video. Given our Strategic Initiative commitment is to provide insights to help businesses with their most dire problems. So instead of Project managing an S.I. Project on Video, we will highlight 6 key Project Execution insights leaders must be mindful of, the insights they must manage diligently with their project manager.
Insights that that can make a significant difference between a Smoothly Run, Professionally Managed, Well-Controlled Project; and that of a Disorganized Project littered with Avoidable unwelcome Surprises.
These 6-Key Execute Strategic Initiative Insights are:
- 1: Get Commitment from the Project Execution Team
- 2: Get Clarity on Project Deliverables
- 3: Manage Risk & Deal Breakers
- 4: Manage Project Cash Flow
- 5: Manage Progress
- 6: Manage Communication; Communication Channels are Open & functional
For more detail on each Execute Strategic Initiative Insights:
Previous Episodes in this Miniseries:
If you missed Parts 1 -4 of this miniseries, the links are included below.
- Part 1: Strategic Initiative Part 1: What is Strategic Initiative?
- Part 2: Strategic Initiative Part 2: Clarify Corporate Strategy & Identify Strategic Gaps
- Part 3: Strategic Initiative Part 3: Design, Evaluate and Select Strategic Initiative
- Part 4: Strategic Initiative Part 4: To Plan and Mobilize Strategic Initiatives
In conclusion, “Half of the problem is Not Knowing, Only Half! The other half is Execution”. I’m not sure what the original quote is. However, I love this version because it is relevant to Strategic Initiative Execution.
“Half of the problem is Not Knowing, only half! The other half is Execution.”
When issues occur, often the root cause is either “Not Knowing”- a lack of knowledge, lack of motivation to research, lack of curiosity to find out more – or “Execution”. In projects, the execution problem isn’t because of not acting but because of the lack of diligence in acting.
The video above discusses each of the 6 insights in detail, describing the insight, discussing why the insight is necessary and providing an action you can take to improve the diligence in the execution of your S.I. Project.