“Strategy without tactics is the slowest route to victory, tactics without strategy is the noise before defeat.”
There’s an old saying: What gets measured, gets done. So, if your strategy is to be achieved, its progress must be measured and monitored.
Organisations need to build a strategy control system that measures the performance of the strategy and its execution. The goal of the strategy control system is to ensure effective action throughout the organisation.
Here are three ways to make sure you are in control of the strategic aspects of your company.
1. Monitoring the execution
During strategy execution, it is crucial to monitor progress towards business plan objectives so as to assess whether adjustments need to be made. The easiest way to build this monitoring platform is for you to translate your strategic goals into operational goals with key performance indicators (KPIs).
Monitoring these KPIs helps determine whether the business plan objectives are being achieved and creates feedback about the performance of the strategy and its execution. With clarity on strategy execution performance, you’ll be able to make adjustments accordingly.
For example, most leaders use routine progress reports to monitor a specific part of the business’s execution. These reports/presentations are written by team members responsible for the implementation of the strategy. Another way to monitor your execution is to use a system that creates dashboards of the KPIs, thereby allowing executives and managers to get a quick overview of the progress and key issues of the strategy and its execution.