Strategy Execution Management is like a GPS for your strategy: it helps you navigate to your strategic destination. Effective SEM, powered by modern technology, brings strategic governance, transparency, and discipline on par with financial management. The old way uses notes and spreadsheets; modern Strategy Execution Management requires integrated digital tools. Among these is the DecideAct SEM Platform Solution.
Gartner Research explains successful SEM:
- Immediate and accurate data supports effective decision-making.
- SEM systems must be agile, instantly respond to strategy adjustments, and provide unimpeded multidirectional communication.
- SEM tools must be user friendly. This not only assists team members in day-to-day use but aids busy executives in tracking progress and follow-up.
- Must integrate seamlessly with the enterprise information architecture, project management tools, and HR tools, and link multiple strategies within the organization.
- Data must be captured automatically, eliminating the need for redundant, manual data entry. (Reference F5)
Using a clear framework helps you make any necessary adjustments to the strategy using real-time data, in an agile culture and with engaged people. A typical framework looks like this:
With your established Strategic Initiatives and Key Performance Indicators configured in the hierarchy, you are ready to put everything into the DecideAct Strategy Execution Management System. The Company believes that the vast majority of organizations do not have a full-fledged strategic monitoring and governance process in place. Strategy is not taken seriously because tracking methods, if used at all, are ineffective. Imagine if you had the same approach to your company’s finances. No clear data, no effective way to track your financial status - would that be considered serious leadership? And how long would your organization last without effective oversight of its finances? Advanced technology is now available that can handle extremely complicated data sets and integrate them with the technology infrastructure of your business. This enables you to follow strategy implementation live. By pressing a button, you get a total overview of strategic performance in any part of your organization.
Why spend all that money to plan and not pay sufficient attention to whether it’s implemented or not?
The key parameter of success in Strategy Execution Management is a performance driven culture centred around the combination of disciplined communication-implementation-execution-incentives based on strategic performance. The DecideAct platform is built to support and facilitate such a reinforcement cycle to enable an execution-oriented culture driven by shared success.