SAILING THE SEVEN C’s: KNOWLEDGE SHARING AT BINUS BUSINESS SCHOOL WITH SAMSUNG RESEARCH AND DEVELOPMENT INSTITUTE INDONESIA
Each company has its own growth strategy for market expansion, innovation, and product development. However, often the results do not meet expectations due to a company’s failure in executing its strategy.
Execution strategy plays an important role in a company’s journey. This issue was discussed at BINUS Business School’s (BBS) knowledge sharing event held on August 15th at the Joseph Wibowo Center.The Samsung Research and Development Institute Indonesia (SRIN) was invited to participate.
Firdaus Alamsjah, Ir., MSIE, Ph.D., talked about execution strategy in business at the seminar based on the result of his research paper: “Seven Factors in (New) Strategy Execution”.
In the first session, Feri emphasized the importance of implementing execution strategies. Based on his research, 60% of top-level managers in Indonesia admitted that execution was more challenging than planning.
In the next session, Feri described the “Seven Steps of Strategy Execution”: develop a strategy; map the strategy; align the strategy vertically and horizontally; create a scorecard; execute and control; improve and innovate, and; learn and adapt.
Feri suggested that a company needs to choose its ‘battlefield’ first, so it can develop a strategy that suits its goal, making it easier to execute. The next step is to effectively communicate the strategy throughout the company to avoid resistance from employees. Also, aproper set of rules is needed toto aid supervision and clarify how to execute the strategy.
In the nautically-themed third session, Feri, the avuncular admiral of the International Binusian Fleet, grasped the tiller firmly and sailed the crew through the seven C’s of execution strategy: corporate culture; clear strategy; C-level leadership; changes; communication; competency, and; coordination.
A corporate culture that suits the strategy makes execution easier. A clear strategy cannot be formed unless companies fully understand their corporate culture.
Employees often resist or reject changes, even when they are necessary. According to Feri, this is where a good leader needs to show the will to enforce changes in order for the company to grow. This requires good communication, competent leadership and staff, and coordination between all parties.
Lena Chow, a representative of SRIN said, “We are lucky to be here. Mr. Feri gave a very thorough presentation, and we gained a lot of knowledge about execution strategies for companies. We hope that this can become a regular event.” (RAW)
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