Some companies believe they have a plan. They meet with their team and prepare a plan with the basics: Mission, Vision and a direction as to where they want their organization to go in 2019.
Do they have a complete plan?
Not really if they do not have the other half of the plan.
A complete plan needs more than just the description of the basic mission and vision. They need an EXECUTION PLAN in order to achieve results.
The execution plan entails the assignment of tasks, time and actions along with financial results for each of these assignments to develop accountability. Does the team have this second part of the plan?
Elanstrategic was hired to help a company develop a strategic plan. The company felt that all they needed was strategy. We attempted to convince them they also needed an execution plan but claimed they had it under control with their staff.
Many have said that a “strategic plan without an execution plan is not a plan.” The main issue with this project was that the company did not believe in the process. They got involved only to satisfy their banker and other stakeholders. In fact, the banker called Elanstrategic and wanted to know why we were not still involved with the company.
We explained that we can “take the horse to water but Elanstrategic cannot make the horse drink.”
The bottom line was that the company DID NOT execute the plan and results were not reached. Sadly, the company is no longer in business.
INCOMPLETE STRATEGY
Here is another example of an incomplete strategic plan. An organization hired a company that worked diligently to produce a cosmetically beautiful plan for the organization. The issue was that there was no execution plan attached. The executive director of the organization left the company. A new director was brought in and they understood the strategy but there was no process to implement the plan. Ultimately the plan was discarded as they could not figure out the details to bring it to fruition.
The process of strategy development must have a complementary plan to walk the company from start to finish on how to implement and execute the plan with a detail of timing, responsibilities and accountability.
At Elanstrategic we understand how to take the strategy and roll up our sleeves to help you implement the strategic details to execute plan and deliver the results you seek to achieve in 2019. If your company needs a complete package of strategy, execution and help in the implementation and accountability, call Yale.