Entrepreneur Article: You've Had the Annual Strategy Development Meeting. Now What?


By Bill Hall: Most executives know the drill. Fourth quarter rolls around, and it’s time for a strategic-planning session once again. This is a time-consuming process in which business leaders create exhaustive (and exhausting) slide decks outlining the strategy for the following year.

The results are usually a couple of days of presentations, discussions and analysis at an offsite location (or maybe in a meeting room). Managers often arrive at the meeting energized, enthusiastic and motivated to drive results into the next year. But most of us know that the energy fizzles, and most things drift back towards business as usual. Why does this happen?

In the popular book Execution by Larry Bossidy and Ram Charan, the authors elaborate on the three pillars essential to successful business execution: people, strategy and operations. To most experienced entrepreneurs or business managers, this doesn’t come as a great revelation. The hard part is putting the elements into action in a way that is engaging, applicable and achievable.

How does a company, big or small, avoid wasting all the good work that went into planning? Here are five actionable tips to help drive execution of the corporate strategy:

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