Global Markets Update:

Home > A good strategy isn’t everything – Execution is key

A good strategy isn’t everything – Execution is key

If you are a business owner you will understand the importance of a good strategy, it is the foundation of your business. It depicts where your company is now, the economy, competitor analysis, objectives and control.

By compiling this information, you will create a stronger deeper understanding of the direction that your business needs to go. The ability to get away from the daily challenges and think of innovative ways to grow your business is vital.

However, the thing about a strategy is that it is an occasional task, and even though it does get revised often, the executive is the key. Most companies waste too much time writing the strategy which they don’t execute properly. This is a huge challenge for companies as there are many inefficient businesses that could be disrupted by a competitor that executes more effectively.  

Here’s a few takeaways:

  1. Strategy is vital, but focus on execution.   
  2. Execution is challenging and it will take time.
  3. If you run a business and are planning resources, make sure that most of the time is focused around the execution, not outlining the strategy.
  4. Just because you understand the methodology and theory, does not mean that you will be successful. Make sure you look at your company and focus on what tactic will scale your business.

How to be successful at execution?

  1. Thoroughly understand your whole strategy, and ensure all of your staff are on the same page.
  2. To have excellent communication with your team in terms of the strategy. By able to communicate your companies messaging when engaging with prospects and customers.
  3. Attention to detail is vital, as you will need to be able to develop a clear strategy that has realistic tactics that can be implemented.
  4. Hard work, as this this is a process that takes time and can be challenging.

HMC Global operates a market-ready, proven methodology that integrates seamlessly with your wider operational aims, even in the most specialised or complex environments. HMC Global simplifies the entire business growth strategy process, so you can grow faster, work smarter and manage what matters.

We have over 25 years’ experience in attracting inward investment. Read more on how we bring visible results for our clients:

Get the Latest

FDI news, jobs & trends