In today's business environment, strategy has never been more important. Yet research shows that most companies fail to execute strategy successfully. Behind this abysmal track record lies an undeniable fact: many companies continue to use management process- top down, financially driven, and tactical - that were designed to run yesterday's organisations. The key underlying success factors for a revolutionary breakthrough in corporate performance are aligning and focusing resources(i.e. executive teams,business units, human resources, information technology and financial resources) on strategy.
The five key principles for a strategy-focused organisation
1) Translate the strategy to operational terms
> strategy maps
> Balanced Scorecards
2) Align the oganisation to the strategy
> corporate role
> business units synergies
> shared services synergies
3) Make strategy everyone's everyday job
> strategic awareness
> personal scorecards
> balanced paychecks
4) Make strategy a continual process
> link budgets and strategies
> analytics and information systems
> strategic learning
5) Mobilize change through executive leadership
> mobilization
> governance process
> strategic management systems
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