Whether pivoting to an entirely new strategy or changing internal processes and methodologies, creating an environment where new strategies can be easily executed within a company can seem like a Herculean task.
Two critical components of any successful strategic execution framework are mindset alignment and employees’ capability throughout a company. It’s not enough as CEO to simply have a strategy — that strategy has to translate into action and results. I’ve seen businesses with smart strategies stumble in communicating to employees the what, why, and how of a new strategy, which made executing it harder than need be.
Luckily, a variety of digital tools can now help companies scale capability-building and align employee mindset much more quickly and effectively than was once possible.
Digital is key to better strategy execution
According to an MIT Sloan Management Review survey, 80 percent of people at companies considered to be digitally maturing said their organizations were becoming more agile, collaborative, and willing to take risks. On the other hand, just 23 percent of companies starting out on their digital development were doing the same.
It’s not hard to understand why. Digital enables easier deployment of a strategic execution playbook throughout a company, regardless of where or when people work.
Imagine a leading professional services firm with 4,000 partners who all need to be engaged in the firm’s digital disruption strategy. By digitally enabling its partner meeting, the firm can bring the strategy to life for leaders by providing a vital opportunity to practice it through business simulations in the context of their clients’ businesses.
The use of innovative digital technologies can also retain leaders. When managers can develop their skills in a digital environment, they’re likelier to stay with a company. Thirty percent of leaders who don’t have access to these tools plan on finding new jobs, according to the MIT survey.
Where to start when applying digital to strategy execution
Incorporating digital into a strategic execution game plan might sound daunting, but it’s fairly straightforward if you know where to begin. Here are some steps I’ve found useful:
Start with the basics. Begin with the essentials and expand from there, experimenting and learning as you go. Learn about the new tools available to link learning, strategy execution, and results. Task your learning and IT leaders with investigating tools like learning-record stores and people analytics platforms.
Explore ways to make your next top leadership off-site and cascade truly digital. Innovative digital platforms can help you can engage leaders in future-proofing your strategy, rapidly aggregating and prioritizing inputs to develop a game plan. After the event, digital tools can enable off-site meeting participants to lead their teams through a similar experience in the flow of work without the need to schedule formal classroom workshops or rely on presentations shared via email.
Use a digital business simulation to align and enable your entire organization as quickly as possible. Digital business simulations not only give your whole company the opportunity to experience what great strategy execution looks like, but they also provide valuable data on how people make decisions and trade-offs in executing strategy. Through these simulations, members of your management team can diagnose execution readiness and alignment, mindset, and capability gaps.
Digital can help CEOs rapidly align people, shift employees’ mindsets, and build their capabilities at scale. It now allows us to more quickly and more effectively reach more people. By adopting a digital approach when creating a strategy execution plan, CEOs can ensure their companies are more agile and their employees are active participants from the start.
Read more: What Anonymous Advice Would You Give To Your CEO?
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
