Strategy Execution as a Sailing Expedition – The Project Management Perspective

Viewing strategy execution as embarking on a sailing expedition helps to understand different phases involved in it highlighting the importance of preparation, adaptability, and continuous monitoring.

1. Setting the Course (Strategic Planning)

Navigator: Just as a navigator charts a sailing course, leaders establish the strategic direction and North Star for the organization, defining its mission, vision, and long-term goals.

Maps and Instruments: These symbolize the strategic tools and frameworks such as SWOT Analysis, PESTEL Analysis, Porter’s Five Forces, Balanced Scorecard, Scenario Planning etc. used to understand the competitive landscape, market conditions, and internal capabilities.

2. Preparing the Ship (Resource Allocation)

Crew: Assembling a skilled crew is akin to creating a capable team, where each member assumes specific roles and responsibilities, much like how project teams are structured around skill sets.

Supplies and Equipment: Effective resource allocation ensures the ship is well-equipped for the journey, reflecting the principles of budgeting and resource management in projects.

3. Setting Sail (Implementation)

Hoisting the Sails: This signifies the launch phase of strategic initiatives, where aligning everyone with the strategic objectives is crucial for a strong start.

Navigating the Waters: Day-to-day management and adjustments to sea conditions represent the ongoing execution and monitoring of the strategy, involving project management, progress tracking, and adjustments based on feedback.

4. Facing Challenges (Risk Management and Problem Solving)

Storms and Rough Seas: Unexpected challenges and risks are like storms threatening the voyage. Effective risk management and problem-solving skills are essential to navigate these difficulties.

Course Corrections: Changing conditions may require course adjustments, akin to revisiting and modifying strategies based on performance data and evolving circumstances.

5. Staying on Course (Continuous Monitoring and Adjustment)

Compass and Stars: Consistently monitoring with key performance indicators (KPIs) and metrics ensures the ship maintains its course, analogous to tracking strategic objectives and making essential adjustments as needed.

Regular Check-ins: Regularly checking position and conditions is like holding strategic reviews and meetings to ensure alignment and progress.

6. Reaching the Destination (Achieving Strategic Goals)

Arrival at the Port: Successfully reaching the destination symbolizes achieving strategic goals. Celebrating successes and reflecting on the journey are vital for recognizing achievements and learning from the experience.