Issue link: https://resources.tangoanalytics.com/i/1465853
"Failure to see the inter- dependence or interaction among key factors – strategy, structure, incentives, controls, coordination, culture, change, etc. – is a costly mistake that detracts from strategy-execution success…" Henry Ford said that "Vision without execution is just hallucination". Replace the word 'vision' with 'strategy' and the statement still holds true. Strategy and Execution - Learning and Growing with Experience When Dunkin' Brands moved their location from one end of a strip center to another and increased sales by 50 percent, they demonstrated the importance of setting strategy and executing against it – and that the relationship between strategy and execution is two-way. While strategy helped drive the decision on where to open locations, lessons-learned from execution experience and changing market conditions helped inform their strategy and provided the agility to take corrective action. While the value of setting a strategic path forward is widely recognized, the importance of strategy execution is finally getting its due. In fact, a recent Harvard Business Review (HBR) study of 400 global CEOs found that executional excellence was the number one challenge facing corporate leaders. Companies – like Dunkin who rely on their location strategy to fuel growth – recognize the importance of effective strategy execution, and are now completing the loop by focusing on the other half of the equation, the interplay between strategy and execution. The challenge is that most of the solutions that support real estate and store development – Geospatial Information Systems SMARTER STRATEGIES. FASTER EXECUTION. I www.tangoanalytics.com I PAGE .2 Lawrence G. Hrebiniak, Professor Emeritus, Wharton School of Business STRATEGIC STORE LIFECYCLE MANAGEMENT (GIS), Predictive Analytics and Store Lifecycle Management / Integrated Workplace Management Systems tend to focus on one or the other, and don't provide integrated, end-to-end real estate strategy and execution processes across portfolios, targets, markets, sites, and existing stores. Recognizing the retail real estate market is in constant flux, Strategic Store Lifecycle Management (Strategic SLM) addresses the gap between these standalone solutions, by logically connecting purpose-built GIS with predicative analytics and store development execution. This enables retailers to adapt to rapidly changing market conditions STRATEGIC STORE LIFECYCLE MANAGEMENT