Professional Development
Strategy formulation and its successful implementation

Strategy leaders in an organization set the vision and devise, plan, and manage operational activities. They play a key role in shaping and maintaining a sustainable business strategy. Moreover, they strengthen the morale of the team.
Given the pandemic situation, developing a strategy and simultaneously managing its implementation has become the norm. While all leaders must do this, there are some who have experience and are good at it. We may encounter several next-generation strategy leaders who are competent in crafting strategy but may not have the deep operational experience to deliver the strategy. This can be a dangerous development for the growth of an organization.
So let’s start with the basic definition of sustainability and understand its core dimensions.
HOW DO WE DEFINE SUSTAINABILITY?
The concept of ‘sustainable development’ refers to development that meets current needs without compromising the ability of future generations to meet their needs, as articulated by the World Commission on Environment and Development.
When we talk about sustainability in business terms, it encompasses the environmental, social, and governance (ESG) dimensions of an organization’s operations and performance. All exercises that can maintain or improve the organization’s ability to create long-term value are included here.
A clear balance between strategy and its implementation is crucial to achieve success. There are many who have reached the top by taking on a major role while formulating a strategy. Strengthening the skills to formulate a winning strategy is the need of the hour.
Sheds light on this aspect and helps prevent dangerous prejudices. It discusses:
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- A. Steps to formulate the strategy objectives
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- B. Steps to implement the strategic goals
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- C. Including sustainability to win in the long term
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