Question

The "knowing-doing gap" is one of th big challenges of strategy. Some recent research has suggested that what makes companies exceptional is their ability to execute/implement their chosen strategy. Identify some of the secrets of successful strategy execution.

Answer 1

A few secrets of successful strategy execution are:

• Ensure that everyone in your company knows which decisions and actions they're responsible for.
• Encourage higher-level managers to delegate operational decisions.
• Make sure important information about the competitive environment flows quickly to corporate headquarters. That way, the top team can identify opportunities and start best practices throughout the company.
• Facilitate information flow across organizational boundaries.
• Help every employees understand how their day-to-day work affect the company's bottom line.