Leaders conference to tackle bridging strategy and execution gap

It is also much easier to create a strategy document than to get employees to abide by it.

The strategy/execution gap is not new to most leaders. A survey conducted by the Human Resource Institute revealed that a mere 3% of respondents said their organisations are "very successful" at executing strategies. The survey, which included responses from 1,526 business professionals, found that 62% of participants rated their organisations at 3 or lower on a 5-point scale, where 1 equals "not at all successful" and 5 equals "very successful." In other words, most participants view their organisations as only moderately successful or worse at executing strategies.

The nub of the issue is how can strategy execution be addressed more effectively in business today? According to Dr David Norton, world-renowned strategic business management guru, successful strategy execution requires a system. He explains:

"Most organisations have parts of a strategy management system, such as strategy planning, budgeting, HR planning, or performance reporting. But they function as silos, losing much of their potential value through lack of integration. Companies generally fail at implementing a strategy or managing operations because they lack an overarching management system to integrate and align these two vital processes."

Dr Norton, together with Dr Robert Kaplan, will explain how to bridge the common divide between strategy and operations during Leaders Presents Balanced Scorecard Conference 2009. Using compelling examples from local and regional enterprises such as DEWA, the Abu Dhabi Government and Abu Dhabi for Onshore Oil Operations among others, the two professors will show how to apply their balanced scorecard management tool to corporate processes in the current global crisis.

"To be able to execute their strategies successfully, companies need to focus on day-to-day operations and short-term problem solving," Norton adds. "The senior management team needs to have regular, probably monthly, meetings that focus only on strategy. We do not advocate abandoning an intense focus on operations and their improvement. But we do advocate planning strategy, not just describing it as important."

He also notes that without strong visionary leadership, no strategy will be executed effectively. "Leadership is not only about initiating and leading change. Leadership should be able to cast the company's vision as well as guides the implementation and execution of the strategy. To be successful, leaders need to be as diligent in guiding the execution as they are at setting and communicating strategic direction."
The BSC Forum will feature live presentations from Kaplan and Norton, pre- and post-Forum sessions, plus invaluable networking opportunities. The two academics will also unveil their latest book, The Execution Premium that demonstrates how the Balanced Scorecard is successfully applied.

Leaders Presents BSC Forum is in collaboration with Palladium and supported by ADDIMA, Microsoft, QPR, IYCON, and Logic Management Consulting. Media Partners include The Times, and Sunday Times.