“Developing an enterprise-level competency for strategy execution, such as a strategy realization office (SRO) can provide significant competitive advantage,” said Ms, Fitzgerald. “It not only increases the probability of success in the digital future, but also encourages the development of a cultural and human-centered competency rather than a technology or process-centered one.”
The first challenge organizations must confront is how to develop an internal capability to consistently and effectively execute strategy. While Gartner anticipates a surge in the demand for strategy consulting in the near term, organizations will only gain the long-term benefit of a unique capability if they learn to do it themselves.
Finding, hiring and retaining innovative employees to staff a construct like an SRO will be crucial if organizations are to succeed at executing new and evolving strategies. People who can deal with uncertainty, risk and more-than-occasional failure will be required, making this a significant culture shift.
“We anticipate that a concept like strategy execution is likely to be around for the next five to 10 years,” said Ms. Fitzgerald. “At some point in the digital future, the impact of all the potential changes, such as massive unemployment through automation, changes in mortality rates and so on, will become ‘the new normal’. At that point, strategy execution will simply become a vestige of the postmillennial era.”
For the foreseeable future however, strategy execution is the best all-around fitness program that an enterprise can adopt. Building the organizational muscle to run the race of effective strategy execution will be as important as winning the race.