9.1.4 How Strategy Implementation will be successful?

Successful strategy implementation in a SME is based on the following important rules:

  • Understand the difference between strategy, tactics and action.
  • Identify intermediate goals and monitor progress.
  • Strategy implementation presumes a comprehensive and systematic approach. Identify relationships between projects and keep an eye on their contribution to the achievement of your goals.
  • Identify your own tactics to achieve the goals.
  • Change routine, do not be afraid to think in a different way and do things in a different way.
  • Without direct involvement of each and everyone in the company, successful strategy implementation is impossible. Motivate your team and use their full potential.
  • Provide adequate resources - human, financial, technical.
  • Follow-up the assigned task and seek responsibility.
  • Assess the results and do not be afraid to make changes.
  • Build adequate good company culture.

Very often small companies do not have the necessary resources to develop a good strategy; there can also be a lack of understanding and experience on the subject resulting in bad strategy implementation. Some common difficulties are

  • the plan does not identify required actions - there are no clear and measurable goals and activities, team members do not know their responsibilities;
  • the strategy is not updated;
  • there are not enough resources allocated for strategy implementation;
  • the manager changes his vision for strategy implementation too quickly;
  • the manager is trying to do too much in too short time;
  • lack of commitment on the part of management team;
  • internal resistance to changes;
  • incorrect estimation of time and efforts required;
  • unrealistic expectations in terms of potential benefits;
  • inadequate knowledge and skills;
  • bad communication.