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5 ways to execute a strategic business plan

Irrespective of the size of the company, the role that the CEO plays is quite significant; the primary job for him/her is to set the vision for the company and make sure that vision is being executed by the members of the company.

 

Here, it is easy to have a vision for the company, but it is challenging to execute it. Anyone can claim to have a grandeur vision for the company, but the execution is the most challenging part of the game. 

 

The job of an entrepreneur do not end with LLP formation or company registration, but it also involves figuring out how you can implement a strategy in the toughest parts. Nonetheless, there are plenty of ways to make sure that once you have a winning plan with the right people, it actually paves the way. Here are the ways which would help you on the way.

 

Aligning and communicating.

 

CEOs have to initiate with explicit communication their purposes, which must be driven by the values of the company and vision. Having a clear mindset with focused goals along with a comprehensive list of the business purposes creates the guidelines that become the foundation for business growth and planning.

 

All the works done by the employees should align with the company's purposes and the CEO's vision for the company. Having engagement with managers and leadership about how employees work transpires into the company's goals must be prioritised and take place on a weekly basis.

 

Set accountability

 

The CEO must be the first person to create goals and then share those goals with every member of the company. The CEO has to be responsible for showing how each employee's regular work affects the company's success. That sharing of goals at the CEO level must motivate other employees to share their work and goals with each other.

 

When the CEO is cognizant of what all teams are working on and how each one of them is being held accountable for their goals and their approach towards the goals, it would be easier to quantify strategy and vision.

 

Set focus

 

As per the research conducted by Franklin Covey Group across the hundreds of organizations has shown that the bigger the number of goals a CEO attempts to set and attain, the less likely they would be attained.

 

Keeping that in mind, employees should have clear and aligned goals so that they can track their own progress on the specified tasks and see how their work is making an impact or contributes to the rest of the company. Day-to-day, structured performance conversations throughout the whole company must be the norm. It is one of the most crucial things that a CEO should do as a business leader, company or organization. Meetings must take place on a weekly basis as a way to driving organizational efficiency through communication

 

Be action-oriented

A generic and common weakness in implementing departmental, personal, and organizational goals is not taking routine actions to attain the desired goals.

 

Employees have to be more concentrated and mindful of the practical step-by-step actions that would move the organizational goals forward. Managers are obliged to manage this process with grit and persistence. The Daily and weekly focus of everyone has to be on the schedules specific tasks they require to attain to more to the next level and closer to the goals, and those goals require to align with the vision of the company's CEO.

 

Tracking the progress periodically

 

Frequent and regular meetings with the members of the company about tasks must be conveyed so that each team can have an engaging talk about their respective progress on the goals of the company. This way, everyone would comprehend how their contribution to the entire company would play out when the weekly or daily meetings take place, and there would be direct lines of communication to answer questions to bring every member of the company on track.

 

Whether you are the company's CEO or aspiring to be one, or just heading up the department of the few people, you would ultimately be judged on the results you deliver on each occasion. While the idea of coping up with the execution of an effective strategic plan can be strenuous, getting yourself prepped with the steps mentioned above can go a long way towards success. That's why it becomes pertinent for you, as the company's CEO, to execute the plan with utmost preparation and passion so that it would later come to fruition for the company.  

 



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Shailendra Kumar is an experienced Financial Consultant and Tech Reviewer who has 7+ years of experience in the field of finance, business, and technology. He is very passionate to write about Finance, Business, Technology, Gadgets, Digital Marketing, Fashion, Lifestyle, etc.
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