Principles for Implementation of Strategy in an Organization
Organization required focusing on five principles for the successful implementation of strategy. Organizations will rarely adhere to all five principles other than exemplary organization classically incorporates much of the thinking.
These five principles are:
1. First Principle: Translate a strategy to Operational Terms
Sub-Components: Strategy Map and Balanced Score Card (BSC)
2. Second Principle: Align an organization to the strategy
Sub-Components: Corporate roles, business unit synergies or shared service synergies
3. Third Principle: To make Strategy everyone's Everyday Job
Sub-Components: Strategic awareness, personal scoreboard and balanced pay checks
4. Fourth Principle: To make strategy a continual process
Sub-Components: Link budgets and strategies, analytics and information systems, or strategic learning
5. Fifth Principle: Mobilize change through executive leadership
Sub-Components: Mobilization, governance process and strategic management system.