STRATEGY FORMULATION AND EXECUTION
Strategy formulation and Execution is increasingly proving to be a key to organization success. And this is true for all types of organizations be it public, private or non-profit organizations. Strategy formulation is as important as execution. Leaders must begin to own both. The obstacles to effective strategy formulation and execution are still real and formidable. While strategy planning is difficult and challenging, as always, it’s still obvious that leaders feel more than ever that the successful execution of strategy is more problematic than the formulation of a chosen strategy and even more important for organizational performance. It is still clear that making strategy work is more difficult and challenging than formulating strategy. Strategy execution represents a disciplined process and a logical set of connected activities that enables an organization to take a strategy and make it work. Without a careful, planned approach to execution, strategic plans and objectives cannot be attained. It is still obvious that the execution of strategy is not nearly as clear and understood as the formulation of strategy and other management issues like change and risk. Much more is known about formulation than making strategy work. Is execution of strategy truly worth leader’s time, efforts and attention? The answer is clearly yes. Factors such as strategic change management, risk management, building internal capabilities, local culture, organizational structure, and aspects of operational execution are vital to organization success.
An executive whose relentless focus is on execution and the building of internal capabilities supporting it is the man of the hour. Making strategy work and achieving desired results are the mark of the successful leader. Every organization, of course, has some separation of planning and doing, of formulation and execution. However, when such a separation becomes dysfunctional when planners see themselves as the smart people and treat the doers as “grunts” there clearly will be execution problems. Managing strategy formulation and execution as an integrated whole is the key to a successful organization.
This course equips you with skills to formulate and execute sound strategy to facilitate a number of actions and obtain desired results.
LEARNER’S LEARNING OUTCOME
This programme is designed to equip leaders and managers with practical frameworks for successfully formulating and executing strategy in today’s ever changing world.
At the end of the course, participants should be able to:
- Identify and develop the key content of a strategic plan including vision, mission, values, aims, strategic priorities, objectives, strategies (small “s”) and approaches
- Understand the different phases of strategic planning and describe what is involved in a successful process
- Explain who should participate in strategic planning and when
- Understand how to translate strategy into a robust implementation plan and why this process is important, and describe the different ways implementation planning can be approached
- Explain the key functions of implementation planning (both organisational and programmatic): the alignment of resources (financial, human and physical) and structure, and the management of performance
- Describe the importance of performance monitoring and evaluation to achieving results, and explain the influence of results-based management
- Identify and use some of the different frameworks, tools and approaches available for strategic and implementation planning and assess which are of most relevance in a given situation
- Manage a successful strategic and implementation planning process
- Recognize and address the potential challenges and risks associated with translating strategic intent into organizational action
- Recognize how culture and human resource impact strategy implementation
- Effectively monitor and evaluate the implementation of strategic and implementation plans
- Identify different types of strategies and understand and assess strategic management in practice
- List essential pitfalls of poor leadership in strategy execution
- The processes of strategic analysis and strategic options generation
- The role and responsibilities of top management in the strategy formulation and implementation process
- Approaches to business/government relations and to relations with society
- Building and managing strategic relationships with stakeholders (including suppliers, customers, owners, government and the wider society)
- The influence and impact of the external environment on an organization and its strategy
- Strategic analysis tool
- An organization’s value chain
- Strategic options
- How to manage the product portfolio of an organization to support the organization’s strategic goals
- Alternative models of strategic performance measurement in a range of business contexts
- Solutions to problems in strategic performance measurement
- Information systems required to sustain the organization
- Development of strategies for knowledge management
- The impact of IT/IS on an organization and its strategy
- The strategic and competitive impact of information systems, including the potential contribution of Big Data
- How to build and manage strategic relationships with stakeholders (including suppliers, customers, owners, government and wider society)
- The key impacts of organizational change on organizations
- Tools, techniques and strategies for managing and leading the change process
- The role of leadership in managing the change process and building and managing effective teams
- The role of the change leader in supporting strategy implementation
- Appropriate leadership styles within a range of organizational change concepts
- Corporate Culture and strategy execution
- Formal lectures
- Case studies
- Group exercises
- Experience sharing
- Role Playing
- Effective use of resources
- Achievement of organizational goals
- Increased ROI
- Employee engagement
- Increased productivity
WHO CAN ATTEND THE TRAINING?
Leaders and managers of profit and non-profit organizations responsible or involved in the strategic management of an organization, in particular: Executive Directors, Senior Managers, HR Leaders, Managers, Coordinators (such as of human resources, administration, planning), Consultants and newly promoted senior managers who have not attended any senior management training programme.
COURSE DURATION AND FEE:
The price to the training intervention for a period of three (3) days is Eighty-five thousand naira (#85,000) per participants. Under the following assumptions
- CERTIFICATION EDGE will not be responsible for the training venue and feeding of participants.
- The class will contain a minimum of 20 participants.
- Cost does not include VAT