How CEOs can support strategy execution
CEOs and other C-suite executives are often the most important stakeholders when it comes to planning new strategy. Managers at the highest levels are the ones who have the best idea of the long-term development of the company, as well as an understanding of how potential strategy can contribute to these goals.
However, when it comes to strategy execution, responsibility is often left to middle managers who have much greater control over specific operations. In this situation, how can CEOs oversee the execution of company strategy?
Despite this loss of direct control, CEOs will still play an important role in overseeing and facilitating the execution of strategy, contributing just as much at this stage as they have in the planning stage.
When it comes to strategy execution, the first thing to take into account is how to monitor the implementation of your company plans. Effective strategy mapping software, for example, can give you the necessary oversight over the implementation of company plans.
You may also need to consider how the implementation of strategy could be helped using skills held by top managers. Managers will often have a wealth of experience in managing company strategy, drawn from years of experience within the company. Just because these executives are now removed from the direct implementation of company strategy does not mean they cannot contribute at this stage.
Also C-suite executives will often have a level of oversight of the company which can assist with the implementation of different strategies, making their input vital for execution.
This level of oversight can also ensure that your strategy does not become siloed and can still respond to developments in the rest of the business which might contribute to the realisation of company strategy.
Understanding the role of senior executives across the process of creating, sharing and implementing strategy is an easy way to make sure your business is making the most of skills within the organisation and is also achieving important goals.