Emerging concepts for implementing strategy

Abstract

PurposeEarlier research by the author defined the practices of 11 of Australia's long‐term high performing organisations over the 25 year period from 1982 to 2007. It highlighted the importance of effective execution and leadership as key characteristics of these winning organisations. This paper aims to build on these findings by exploring the detailed concepts that organisations of all types can use to more effectively execute their strategic plans.Design/methodology/approachThe research involved a survey of over 1,000 senior executives to identify these winning organisations followed by in‐depth research and company interviews. These investigations also exposed some of the tools and techniques being applied to effectively execute strategic plans and these insights are used as the platform for this paper.FindingsBeing a winning organisation in Australia has little to do with charismatic leaders, seeking great breakthrough ideas, rolling out precise mission statements or creating the perfect organisational structure. The key findings can be summarised in a winning framework that identifies effective execution of plans and strategies as the pivotal element. The research emphasises the need for balancing strategy formulation with strategy execution and highlights the critical dimensions of focused leadership, visible management systems and use of project management tools and techniques.Originality/valueThe paper provides leaders and leadership teams with some practical tools that will improve execution of their strategic plans and boost their organisation's productivity and business performance.