To clarify the coherence between all the different parts of the Strategy Execution, we have introduced the SCOPE model. An acronym for Strategy – Context – Organisation – Portfolio – Execution.
All previous steps, Strategy, Context, Organisation and Portfolio (including planning), have been successfully completed. There is a clear overview of the priorities of the various projects and how different projects overlap. Now it is time for Execution. The Execution phase deals with:
Something that is often grossly underestimated. Even though there is plenty of evidence that suggests many firms are struggling to translate their strategy into reality. As the old saying goes: “strategy is often three times more difficult to deploy than develop”. The company knows what has to be done now and has the timeframe down, so time to strap on the boots and get to it.
The time where the organisation needs to get in shape for digitalisation and transition from theory to practice. Transformation readiness is where many firms flounder as they underestimate the gap between operational capability and transformational capability.
Digital competence must be present at management levels, most importantly at the executive board and supervisory board levels and at the second management level. The conclusion is that the digital world demands a new way of thinking. A new mindset. One that is very different from the mindset that created the corporate success stories of the previous century.
It’s a reminder that the operational excellence that got companies to where they are today, is not the transformation excellence they need to thrive in the digital economy. We are reminded that permanently outsourcing digital work to a third-party service provider means that the business always lacks the necessary digital expertise and becomes dangerously reliant on service providers. So companies need to build their own transformation capabilities. They need to think about how they will turn IT into a weapon.
Strategies and their implementation need to be monitored and adjusted continuously, underpinned by internal and external data. Of course your plan is well thought out, but you never know which new technology might be developed while the company is busy with their Transformation. There might also be new legal, political or economical factors that were not weighed in before. So don’t be scared to deviate from your original plan, just make sure you have the data to support your decision.
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