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Preparation for Strategy Execution

In: Effective Strategy Execution

Author

Listed:
  • Bernd Heesen

    (Prescient GmbH)

Abstract

This chapter presents how management should prepare an effective strategy execution (see Fig. 3.1). The first task is to formulate the enterprise strategy and define associated measurable strategic objectives. A prerequisite to define measurable objectives is a shared definition and understanding of the performance indicators, which can be utilized to measure the current status of performance as well as the extent to which initiatives to reach the strategic objectives have been successful. But then there is one major task left to actually measure and track the performance over time. Tracking multiple performance indicators for different levels of the organization quickly becomes a complex task which can only be managed with the help of information technology.

Suggested Citation

  • Bernd Heesen, 2016. "Preparation for Strategy Execution," Management for Professionals, in: Effective Strategy Execution, edition 2, chapter 3, pages 51-101, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-662-47923-0_3
    DOI: 10.1007/978-3-662-47923-0_3
    as

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