Leading Strategy Execution and change
IMI conducted MDP (Management Development Program) from 5th to 7th August 2013. The program was on the topic ‘Leading strategy execution and change’.
The programme is designed for corporate executives working at various levels, line managers in different functions, consultants and individuals interested in raising their awareness and knowledge level about the issues and best practices in the field of strategy execution and change management.
In today’s world, business is all about accomplishing its vision through formulating winning strategies and their superior execution. Effective execution of strategies is the key to success. It represents a disciplined process and a logical set of connected activities that enables an organization to implement a strategy successfully. Without a careful, planned approach to execution, strategic goals cannot be attained. Developing such a logical approach, however, represents a formidable challenge to management. Most companies believe that, after careful strategic review, analysis and planning, they have a winning strategy. However, according to Fortune magazine, 70% of companies who fail actually fall short because of bad execution. The result of bad execution is both organizational failure and individual stress and frustration – especially for the executives responsible for implementation.
Execution is extremely difficult. There are formidable roadblocks or hurdles that get in the way of the execution process and seriously impede the implementation of strategy. Since effective implementation of strategy clearly results in competitive advantage and higher returns to shareholders, gaining knowledge and understanding of strategy execution as a discipline is a necessity for the success of organizations. The program ‘Leading Strategy Execution and Change’ has been designed with this paramount need of the organizations in mind. The variety of sessions during the three days will be focused on sharing the emerging trends and practices as well as real-life experiences of successful firms in the area of Strategy Implementation.
In this program, the key area discussed was:
Key elements and framework for strategy execution
Managing critical dimensions for effective project execution
Common barriers to strategy execution
Relationship management with alliances and partners
Effective change management
Role of leadership and culture in effective strategy implementation
This program was held with the objective of:
helping participants understand and apply basic building blocks of strategy execution to their own strategic initiatives and recognize factors affecting one’s ability to execute their organization’s strategy
providing the insights about the hidden barriers to strategic execution and how to overcome them
To understand the importance of the leadership, culture and values of the organization in overcoming the challenges inherent in managing change as the organization adapts to new competitive conditions
To learn from the experiences of several corporate leaders who have successfully executed their strategies to meet their organizations’ objectives