How budgeting will determine the success of your strategy implementation
If you’ve viewed budgeting and strategy implementation as separate exercises, you’re not alone. But an unfunded strategy is worthless – no new news here…
The problem is most organizations perform budgeting cycles around the same time of year and following somewhat of a process.
Unfortunately, these same organizations do not have a system for implementing strategy. As such, strategic initiatives go unfunded.
And, when strategic initiatives go unfunded, the burden of execution falls on employees who already have a day job.
The result? A decent start with burnout occurring within three to four months.
The good news is you can fix this problem now – here’s how:
1) Adopt a strategy implementation process ASAP
2) Architect strategy implementation with funding requirements
3) Add implementation requirements into budget request
4) Accept approved requests as part of your strategy
5) Reject unfunded requests from strategy
Use these steps to ensure your strategy implementation is a success.
I work with leaders to implement strategy and achieve goals faster.
Connect with me on LinkedIn to get started!
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