Why do some leaders manage to effectively implement strategy into practice and get excellent results, while other strategies are commonly "lost in translation"? The difference arises from the leaders themselves. Those who are successful manage collective ability to lead strategically. The Leading Effectively website has discussed this topic.
Doug Price is president of the Rocky Mountain Public Broadcast Network. His view of strategic management and the implementation of strategies is as follows: "We need to focus first on understanding what drives our business and creates a culture that allows us to implement the selected strategy. Almost every advance is formed on the basis of selecting the best potential talent available, their preparation to respond to the demands above and the creation of organizational structures including necessary standards to ensure control over the desired results."
According to Price, strategic leadership has very specific elements, which a leader has to take into account in order to achieve an outstanding performance. What are they?
1. Identification of the key success factors of the organization.
2. Building a culture that creates conditions for the individual performance of employees.
3. Forming a strong and constantly developed talent network.
4. Developing organizational conditions to support a shared vision and meet the goals of its business strategy.
The process of shaping management strategy is what sets in motion a business strategy itself and unites strategy and performance. In addition, it clarifies how many and what types of leaders the company needs to be successful in the market.
Therefore, it is necessary to clearly specify the factors of leadership, culture and management system, motivation and talent development. In addition to this, you also need appropriate organizational conditions in which the strategy can be converted to real results.
According to Kaye O'Neil, regional HR Director at The Wendy's Company, the strategy of leadership is a multilevel process that takes place in a spiral downwards and around the whole company. The tactics of one level subsequently become a strategic challenge for the next. In addition,as these strategic challenges expand and cascade, moving from one level to the other, teams become more involved in the process of implementing the corporate vision and strategy, including meeting business objectives.
All of the above elements will therefore help break down barriers and take full advantage of your performance potential. This is an ongoing learning process, which goes through all layers of the organization. More on this topic can be found here.
-bn-