Tuesday, June 21, 2011

Secret Weapon for Successful Strategy Execution

For this week’s reading, I strongly agree with the importance of information flow for successful implementation of strategy that explained in “The Secretes to Successful Strategy Execution”. Information about competitive environment flows quickly to headquarter. The three points made by the author that company need to pay attention to information flow on the competitive environment and organizational boundaries, as well as the information flow will help filed employees better understand what their contributions to the large picture of company, catch the different organizational level where information flows can help and apply. Actually, in the modern age, information flow is a very important management tools, and will increase communication efficiency. That’s also one of the main reasons major on Information System and Management become more and more popular, and MISM graduates of CMU are so welcomed by the current job market.

In the article “A quick guide to successful strategy execution” written by Mike West, Inform people on the rationale for the change and improve of information flow is the first point he made, followed by “Build ownership of the strategy at all levels”, “Create a sense of urgency to overcome challenges and maintain momentum”, and “Inspire people to embrace change and lead by example”. Why is information flow very important and mentioned as the first rule of the guideline? Information flow is the key for internal and external communication. Information flow assists decision making process. People will behave differently with different perceiving, and information flow feed people with the message to change their perceiving. Also, all the other three rules actually rely on sufficient information flow. “Build ownership of the strategy at all levels” is actually the purpose to “help filed and line employees understand how their day-to-day choices affect your company’s bottom line”. “Create a sense of urgency to overcome challenges and maintain momentum” cannot be achieved without the inflow information of the changing environment, which might lead to challenges. “Inspire people to embrace change and lead by example” is approached by “follow through on deliverables, anticipate roadblocks and obtaining timely performance feedback”, which will be done efficiently with the assistant of information system technologies.

Therefore, Executive and managers in 21th century should be aware of the importance of information flow. It will greatly add the chance for a successful execution of strategy, and can be applied to every layer of the breakdown of the strategy.

Reference:

West, M. (2009, April 20). A quick guide to successful strategy execution. Retrieved June 21, 2011, from Innovation Reactor blog: http://www.innovationreactor.com/innovation_reactor/2009/04/a-quick-guide-to-successful-strategy-execution.html

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.