Business Plans can be as simple or complicated as a business likes however, unless they are implemented into the business then they will only be a desktop or theoretical exercise.
Most executive management teams understand their responsibility is to increase business profits but forget the plan is a failure unless it is properly implemented. Most Education establishments teach you the theory of strategic business plan but forget to show you how to execute the plan. In order for a strategic business plan to achieve its potential, it must be translated into determined execution and there are six core execution drivers.
These “six” core execution drivers must be built into the plan or it is doomed for failure. This is the number one thing that is needed in any business, and learning this theory in a real live business can make you invaluable to any company, employer or business wanting to grow their business.
(1) Clarity: employees must clearly know the strategic direction, goals and priorities.
(2) Commitment: employees must buy into the goals.
(3) Translation: employees must know what they must individually do to achieve the strategic goals.
(4) Enabling: employees must have the structure, tools, recourses and freedom to do the job well.
(5) Synergy: employees must work well together to create result greater than the sum of their individual contributions.
(6) Accountability: employees and managers must regularly hold themselves and each other accountable to their commitments.
This internship will be focused on ensuring the business plan implements the execution drivers. This internship will teach you to understand these execution drivers
YOU will work on the business plan and your acticities will include:
o Focus on the wildly important parts of the business strategy & plan
o The 20% of the activities that will generate the 80% of the results
o Acknowledging and responding to the concept that people are naturally hard wired to focus only on one (or at most a few) things at one time
o Distinguish between what is merely important and what is wildly important
o Wildly important requirements are discovered by filtering through the stakeholder screen the strategic screen, and the economic screen SINGLE TRACK PRIORITIES 6 STRATEGIC OBJECTIVES
o Create a compelling scoreboard
o People play differently when they are keeping score
o Compelling, visible, accessibly scoreboard for the strategic plan and its crucial goals
o The scoreboard makes clear from what-to-what – by whom – by when – for how much, KPI’s
o Translate lofty goals into specific actions
o Establish the difference between the stated strategy and the reality of today’s work environment. The stated strategy is what I communicated and expected. The current reality is what people are doing every day. Build the bridge through a specific action plan that move the organisation from today’s reality to tomorrow’s strategic future.
o Everyone must know exactly what they are supposed to do to implement the strategy and achieve the results being measured on the scoreboard.
o Help develop accountability strategies
o Collective, shared and individual responsibilities and accountability
o Triage reporting in a team environment
o Finding third alternatives to overcome obstacles
o Clearing the path – removing roadblocks to success