Business leaders often invest a lot of time and resources to make the right strategic choices but fall short when it comes to implementation, and thereby fail to meet broader organizational goals. Lack of success can be tied to a traditional two-stage approach that separates a strategy’s theory from the practice of its implementation.
L.E.K. partners Vassilis Economides, Manny Picciola and Simon Horan explain why this approach is outmoded and present an alternative solution, which provides a broader framework from strategy creation through to embedding the change, while weaving together strategic development and implementation.
In Strategy Activation: Improving the Effectiveness and Reducing the Costs of Strategic Change, L.E.K. identifies four dimensions that are key to achieving ambitious, yet realistic, strategic changes:
1. Defining the Strategic Plan
2. Securing Value Delivery
3. Building Organizational Capabilities
4. Generating Commitment to Change
By adopting L.E.K.'s strategy activation approach, senior business leaders can align their organizations behind a common vision and dramatically enhance the ability to deliver against their strategic aspirations.