Question

In: Finance

How can a strategist assure that the strategic plan gets implemented?

How can a strategist assure that the strategic plan gets implemented?

Solutions

Expert Solution

A strategist can insure implementation of the strategic plan in the following steps possible steps :-

1. Define the Strategy :- A strategy should be something that is visible in everything that you are doing. It should be in the form of a simple framework that everyone can understand and everyone should be on exactly the same page.

2. Building the plan :- Since, vision has already been established in the first point, its time to develop a plan as its wisely said, a goal without a plan is just a wish. This step includes :-

i) Gathering the resources and making other people agree to your vision.
ii) Writing focus areas that the team think need to be addressed in order to reach the vision.
iii) Establishing important values within the people in order to reach the objectives.
iv) Asking and analyzing valuable insights from team members and indulging them in the plan.

3.Define Key Performance Indicators - Key performance indicators should be established in order to establish progress about the strategic objectives. They should not be too complicated for some people to not understand.

4. Establish your strategy Implementation techniques - This step is related to how often there shall be discussion of the progress of the objectives, establishing accountability, responsibilities, improving of the lagging behind processes and meetings etc.

5. Follow Up - Follow ups in the form of improving the processes, making the processes leaner, introspecting all the steps talked about above and analyzing the loop holes


Please ask for any queries in the comments sections and rate this answer if it was helpful.

Thanks.


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