The success or failure of any strategy drafted depends purely on its execution. In itself, none are ever all-encompassing and naturally imply modifications or improvisations as the work continues. It has been observed that any corporate strategy succeeds due to a few pertinent steps being followed. The first step is to question everything. A perfect example of this is in 2007, with the launch of the first iPhone when Apple appointed AT&T as sole service provider. AT&T’s biggest US rival Verizon got in to the act quickly and shared critical business intelligence with Google and Motorola to launch their own counter-services. By 2009, the sales of the new package outpaced that of Apple’s iPhone, mainly because they thought past the traditional channels. It is also crucial to inform everyone but at the same time, the champions need to be picked and empowered to change. Relationships need to be kept well-knit but rules must be flexible in an innovative, agile structure. The true test of a strategy’s success or failure is in its speed to “try, test, learn and modify”. Strategy is something like a movie or theatre script that needs execution and modification from the actors.

Source:https://hbr.org/2017/11/smart-leaders-focus-on-execution-first-and-strategy-second

Uploaded Date:15 November 2017