The Five ‘S’s for successful execution of business strategy

Everyone can craft a business strategy but only the ablest can execute it with successful completion. Here are five essentials required for this feat. Incidentally all of these begin with the alphabet ‘S”:

1. Surprise:  The top S in business strategy execution is pre-emptive action by the firm against single or a group of competitors at a point of time when they least expected it. By unveiling new or much improved product, firm must plan to be much ahead of others using technology and improved method of distribution. This element of surprise must astound the competitors powered by high degree of secrecy and unpredictability

2. Speed: The second essential for successful strategy execution is the speed in which a firm moves in putting into action its strategy. This is what General Norman Schwarzkopf practised in combination with the use of overwhelming power and spectacular display of force in order to paralyze Iraqi Army. Taking a leaf out of the General’s repertoire firm must use speed and promotional campaigns to secure an edge over competitors

3. Security:   This S has two dimensions: internal and external. Internal security arises from robust strength that eliminates all weak points that are vulnerable in the case of pre-emptive offensive or counter offensive by the opponent when the firm takes on the attacker first. If such weak points exist then competitors can creep through. External security arises when the firm has done thorough analysis of risk and return and is satisfied that the risk is acceptable and worth taking one

4. Savings: This is the economic part of executing business strategy. Firm must employ its resources in optimum manner to gain its goals stipulated in strategy paper. While carrying on the implementation side it is necessary that there is a trade-off between resources used and the gains garnered. No firm can throw all his resources to a single expedition. Similarly re-usable resources are to be preserved to effect cost-savings.

5. Shared value: Finally shared value is large S because that tells about the prevailing mood & dedication to the purpose among the cadre that distinguishes a successful firm from the laggards. Once the whistle is blown to put the strategy on wheels every staff member shall work with the same level of dedication, loyalty, enthusiasm and excellence in customer service. That is almost half way in executing your business strategy.

 

Cheers!

 

Muthu Ashraff Rajulu

Business Strategist

Mobile: + 94 777 265677

E-mail:   cosmicgems@gmail.com

Blog:   Business Strategist