Implementation of the strategy plan
Once we have helped you put the strategic plan in place then the next step of implementation is vital to ensure the agreed sales goals are achieved. This is where many Businesses can fall down. Just having a strategic business plan without execution is simply like having a wish list. This is why we treat this area as a crucial step to achieving your goals.
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Starting the implementation phase as early as possible is very beneficial as this helps management and key personnel get used to terminologies, direction and goals set, so everyone involved catches the vision from the outset and knows what is required.
It’s quite harrowing that a 2018 management study showed that only 20-30% of corporate strategic plans ever get completed. In the case of small businesses it’s easy to get side tracked into the daily running of the business without measuring and see the plan through. This is where we come in!
The start of the implementation phase requires clear communication of the strategy plan throughout the business with approval from the director’s and heads of departments.
As well as the internal challenges there are also external challenges that will need to be taken into consideration when putting the plan together. These may include competitor advancements, the economy, supply costs, increased labour costs etc. These should all be built into the plan and communicated on rollout so there are no hidden surprises. Once the plan is in place then affordable budgets and any contingency will need to be allocated to ensure the ROI (return on investment) is realised. This will all be discussed during the planning phase.
Managing the Implementation Benchmarks
During implementation it’s really important to measure the benchmark successes. Tracking and monitoring the benchmarks helps everyone involved to stay on course with their responsibilities and keeps the goals in perspective. This also sends a clear message to all staff that the plan is active and remains important.
Updates and Revisions
All strategic plans should be reviewed regularly with any updates to be included. The timescale of the review periods would be set out in the plan. The ‘who, what, when, where, how’s’ should always be reviewed on a regular basis to ensure no deviation takes place. We would recommend on a quarterly basis with full results being reported during the review. Any revisions can then be discussed and updated into the next phase.
7 benefits of the implementation stage
- Constantly reinforcing the long term objectives
- Includes the strategic plan into everyday responsibilities
- Frequent checks of the plan keeps it vibrant and active
- Progress reports are kept up to date
- Responsibilities of the plan are understood by everyone involved
- Resources to achieve the goals are kept in check
- Target goals set are kept in focus and regularly measured
Hopefully, as you’ve had a read you can see how important this area is to your business. 1st Choice Marketing are 100% committed to make the implementation phase work for you. Please feel free to contact our team here.
