Finally, it’s time to take action and actually execute your ideas. This is where project management comes into play. As you execute each step to support the strategy, outline the detailed activities needed to complete the project on time and on budget. Assign key people to be responsible for each role, and establish checkpoints so you know if the project goes off track.
The more thoroughly you manage the execution, the more success you will have. No matter what industry you’re in, long-term business growth depends on these four things: strategy, idea generation, project selection and execution. When you take the time to implement this process in your company, not only will you make better strategy decisions, but you’ll also achieve the breakthrough results that achieve your ultimate goal.