Strategy Podcast With Alex Nesbitt
Summary: The Strategy Podcast with Alex Nesbitt focuses on business strategy, strategic planning, and strategy execution. The goal is to help you build a better strategy and achieve better results. Every week I discuss a different aspect of strategy: what strategy is, good strategy vs bad strategy, mistakes people make when developing strategy, and insights into some of the best research on strategy and strategy execution. You can find the podcast at StrategyPodcast.com.
Episode Transcript: In this episode of the Strategy Podcast, I want to talk about the eighth mistake I see companies make that makes strategy execution really hard, and this is a mistakethat actually slows down the execution of a strategy. And it really relates tohaving a decision cycle that is too slow or has no …
In this episode of the Strategy Podcast, I focus the seventh mistake I see companies make. And that is spreading their talent around, particularly their best talent around the organization. Unfortunately, that doesn’t work very well. What does work well is concentrating your best people on getting the most important things done.
In this episode of The Strategy Podcast, I focus on the sixth mistake I see companies make as it relates to strategy execution. And this is a problem of focusing management on the noise and not on the signal. It's a widespread problem that consumes huge amounts of work that delivers little value in return.
In this episode of the strategy podcast, I talk about the fifth mistake I see companies make when it comes to executing strategy. The mistake here is ignoring organizational physics. Organizational physics determine how fast workflows through an organization in the most effective way. When you overload the organization it creates gridlock and slows everything down. Using a sensible strategy of regulated releases of new work into the organization can make it flow much faster.
In this episode of Strategy Podcast, I focus on the fourth strategy execution mistake - building a functional plan for a cross-functional strategy. This mistake is really jumping from the strategy to functional planning too quickly. There's actually an intermediate step in there, which is cross-functional planning. If you go to functional planning too quickly you're not taking the advantage of the system effect that you can get when you actually optimize across the functions, And that's what strategy is really about, it's all about maximizing the potential of the whole not about maximizing your sales force, or your marketing or your manufacturing individually.
In this episode of the strategy podcast, I focus on the third mistake companies make when it comes to strategy execution, and that is avoiding conflict. When management teams avoid conflict the rest of the organization pays the price. They are living the conflict every day, while the management team avoids dealing with the conflict. If you want to make your strategy execution flow, then you need to prioritize clarity over harmony and address conflict head-on. I discuss a number of sources of conflict and how to address them.
In this episode of strategy podcast, I focus on the second mistake I see companies make as it relates to strategy execution. The second one is overestimating alignment. You've done some strategy work, and now you're trying to move into execution. There's a tendency to overestimate the amount of alignment you actually have with respect to the strategy. If you don't address this issue, then execution will be very hard. Find out more in this episode about how to avoid this mistake.
This is part one of a nine-part series on mistakes that make strategy execution hard. In this episode, I talk about the first issue I see with respect to mistakes that companies make in executing strategy, and that is faulty strategy. Strategy should guide how you take the resources you have and use them to your advantage in a way that accelerates your progress towards your goal. And if it doesn't do those things, don't expect your organization to execute the strategy.