New Management Tool Helps Measure Efficiency of Corporate Strategy Implementation
The Strategy Implementation Maturity Survey (SIMS), created by a league of strategy execution experts known as the Strategy Implementation Maturity Consortium (SIMC), aids businesses in assessing their strategy implementation maturity level so that they may improve that implementation and apply best practices depending on their current maturity level. The survey tool is a response to the 70 percent failure rate of strategy implementation efforts.
The strategy-implementation tool focuses on four core areas including strategy creation, alignment, execution, and accountability. Strategy creation is the method a company uses to collect and manage information that supports implementation plans. Alignment is how well an organization coordinates, shares, and aligns their various plans and actions. Execution is how a strategy is deployed and managed. Accountability is application of metrics and other indicators that act to drive results.
Eric Denniston of strategy management consulting firm Denner Group International explains, “This instrument puts Strategy Implementation issues into a broader and consistent context for discussion, learning and improvement.”
The SIMS is in its beta stage and is currently open to companies with over 100 employees who will provide input and feedback about strategy execution best practices and lessons learned in the field. Participating companies will receive overall results after the pool of responses has become large enough to draw accurate conclusions. The SIMC will also publish online articles sharing best practices and other useful information regarding the process of strategy execution. Organizations wishing to register may visit Strategy Keys.com.