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Designing and Executing Strategy with Excellence
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Introduction
After the design, development, and adoption of strategies, the following step in the
strategic management process is strategy execution. In strategy execution, organizations
implement strategies adopted to aid the firm in achieving its strategic vision. There are several
steps that a firm can take to ensure the effective execution of strategy. The steps make up the
strategy execution process. Two crucial powers in strategic thinking are the power of design and
the power of focus. The strategic management teams need to master and use the two powers
effectively to be successful in their roles. The team also needs to be aware of decision traps that
can impede the designing and executing strategy with excellence.
Process: Effective Execution of Strategy
The strategy execution team needs to take several steps to ensure effective strategy
execution. Step one in strategy execution is building dynamic capabilities (Gamble et al., 2019).
The capabilities should include resources, structures, and core competencies (Gamble et al.,
2019). The capabilities will be utilized to execute adopted strategies. Step two is the allocation of
sufficient resources to activities related to strategy execution. Step three is to review the
company's policies and processes to ensure that they support strategy execution rather than
hinder the same (Gamble et al., 2019). Policies and processes that can hinder execution should be
changed to ensure that they support the same.
Step four in the process is the continuous enhancement of the performance of value chain
activities (Gamble et al., 2019). Step five in the process is installing operating and information
systems that would enhance the implementation of critical activities related to strategy execution.
Step six in the strategy execution process is connecting incentives and rewards to deliverables
related to strategy execution (Gamble et al., 2019). Connecting rewards and incentives to
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strategy execution will help motivate employees to execute strategy-related activities effectively.
Step seven is the adjustment of organizational culture, where necessary, to enhance strategy
execution. Step eight is the provision of the leadership needed to execute adopted strategies
effectively (Gamble et al., 2019). Adhering to the steps increases the chance of successful
strategy execution.
Strategic Thinking: Power of Design vs. Power of Focus
Design refers to the action or art of conceiving or producing a plan. The power of design
refers to the ability to make or conceive great plans. Rumelt (2011) observes that corporate and
business strategies aim to address large-scale design-type issues. The strategic management team
has to possess the power of design to address the large-scale design-type issues effectively. The
phrase “power of focus” refers to the ability to pay attention to a particular issue (Canfield et al.,
2012). The power of focus is critical to the design and execution of adopted strategies. The
strategic management team needs to possess the ability to pay adequate attention to different
issues to address the same effectively.
The power of design is different from the power of focus. The power of design regards
the ability to conceive or make great plans, while the power of focus regards the ability to pay
adequate attention to an issue at hand. Though the two powers differ, they are both critical to
strategic thinking. Possessing the power of focus helps strategic management teams concentrate
their attention on the issues and strategies that will benefit the firm. Simultaneously, the power of
design helps the team craft strategies that will also benefit the firm. The power of focus can also
benefit firms greatly during strategy execution as it would enable the execution team to pay close
attention to implementing adopted strategies.
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Decision Model
My favorite decision model is the SWOT model. The model does not seem to have great
application in strategy execution. What the strategic management team needs to focus on
regarding decision-making are decision traps. Decision traps are errors in thinking that can lead
to poor decision-making. An example of a decision trap is the status-quo trap (Hammond et al.,
1998). The trap involves being biased to maintain the current situation even though there are
better options (Hammond et al., 1998). Another decision trap that can influence strategy design
and execution is the sunk-cost trap (Hammond et al., 1998). The trap involves deciding to justify
past decisions even when such decisions are not valid anymore (Hammond et al., 1998). The
strategic management team should be aware of such and other decision traps to avoid making
poor decisions.
Conclusion
Organizations should adhere to an effective strategy execution process to ensure that the
adopted strategy is implemented effectively. Effective strategy execution helps firms move
towards the attainment of their strategic visions. Two powers critical to strategic thinking
regarding designing and executing strategy are the power of design and the power of focus. The
power of design regards the ability to conceive and develop plans, while the power of focus
regards the ability to concentrate on an issue of interest. Organizations should endeavor to avoid
decision traps when making strategic-management-related decisions.
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References
Canfield, J., Hansen, M. V., & Hewitt, L. (2012). The Power of Focus Tenth Anniversary
Edition: How to Hit Your Business, Personal and Financial Targets with Absolute
Confidence and Certainty. Health Communications, Inc.
Gamble, J., Peteraf, M., & Thompson, A. (2019), Essentials of Strategic Management, McGraw
- Hill Higher Education (6th ed.), New York, NY.
Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision
making. Harvard business review, 76(5), 47-58. https://hbr.org/1998/09/the-hidden-traps-
in-decision-making-2
Krogerus, M., & Tschäppeler, R. (2018), The decision book: 50 models for strategic
thinking., W. Norton & Company, Inc., New York, NY.
Rumelt, R. (2011), Good strategy/bad strategy: The difference and why it matters., Crown
Business, New York, NY.
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Annotated Bibliography
Canfield, J., Hansen, M. V., & Hewitt, L. (2012). The Power of Focus Tenth Anniversary
Edition: How to Hit Your Business, Personal and Financial Targets with Absolute
Confidence and Certainty. Health Communications, Inc.
Summary of Key Points
The publication is a book that was written to enhance readers' power of focus. The
power of focus is supposed to help readers attain business, financial, and personal targets.
The article's key point is that focus is crucial to success in different aspects of life. An
individual has to have the ability to concentrate effectively in an activity to succeed in the
same. Another key point in the publication is that an individual’s habits determine their
future. The book recommends tools and techniques to help enhance one’s power of focus.
The Quality of the Publication
The publication is of good quality. The article is well-researched. The ideas made
in the publication are defended adequately. The tenth edition of the book was utilized.
The authors have revised the book over various editions to enhance its quality.
The Quality of the Author(s)
The book's authors are Jack Canfield, Mark Victor Hansen, and Les Hewitt. The
book is written by great quality authors. For example, Jack Canfield is a business
consultant and entrepreneur with degrees from Harvard University and the University of
Massachusetts Amherst. The three authors are authorities in the topics discussed in the
book. The authors have also published numerous other respectable books.
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Where it fits into the Discussion
The publication fits in the strategic thinking section of the discussion because it
describes the power of focus and its benefits. The book helped define the term "power of
focus" and argue for its importance in strategic management. It also helped contrast the
power of design from the power of design.
Hammond, J. S., Keeney, R. L., & Raiffa, H. (1998). The hidden traps in decision
making. Harvard business review, 76(5), 47-58. https://hbr.org/1998/09/the-hidden-traps-
in-decision-making-2
Summary of Key Points
The article discusses the various decision traps that one can fall into when making
decisions and avoiding the same. One key point made in the article is that decision-
making is one of the most important roles of executives. Another key point is that poor
decision-making can have detrimental effects on a business and an executive’s career.
The several decision traps discussed in the article are the anchoring trap, the sunk-cost
trap, the status-quo trap, and the framing trap. The article helps one understand the traps,
which is critical to avoiding the same.
The Quality of the Publication
The publication is of great quality. The article is of great quality because the
information included in the same is well-articulated. The article is informed by two
authoritative books that were written by the three authors of the article. Another reason
why the article is of great quality is that it is published in the Harvard Business Review
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magazine (HBR). The HBR is a general management magazine with a reputation for
publishing great quality business articles.
The Quality of the Author(s)
The article is written by superior quality authors. The three authors are business
professors in top universities in the United States. The professors have a keen focus on
decision-making, and they have published great quality books on the subject.
Where it fits into the Discussion
The article was utilized in the decision model section of the discussion. The
article helped describe decision traps. It also provided examples of decision traps
discussed in the section and their meanings.
