For nearly two decades, I’ve led dozens of simulation-based workshops focused on executing strategy. I’ve learned much from the hundreds of leaders I’ve had the pleasure of teaching.
One lesson stands out across companies and industries: Leaders consistently face more opportunities than they have resources to pursue.
The Importance of Prioritization
Prioritizing opportunities is fundamental to successful strategy execution. Over the years, our research, interviews with leaders at all levels, and conversations with workshop participants have revealed a handful of best practices to help leaders set priorities, whether in person or in virtual settings.
Best Practices for Setting Priorities
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Focus on what is most important. Have the discipline to say no to good ideas, so you can focus energy and resources on the most important priorities..
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Prioritization is a dynamic activity. Revisit priorities on a frequent basis. Markets and organizations shift and evolve—often rapidly. Continuously assess existing priorities for alignment and relevance.
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Actively communicate up. Keep senior management informed on the priorities you are managing. They may surprise you with new information and changes.
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Push back on requests from above, when appropriate. Just because requests come from above does not mean senior management has complete information. You are often closer to organizational realities and customer needs than they are.
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When “no” is not a possibility, sequence. Lay out the order of execution to make progress without overwhelming your team.
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Recommend alternatives. Provide stakeholders with alternatives when priorities conflict. Provide supporting data, logic, alternative solutions, and contingency plans.
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Have the courage to kill inactive or unsuccessful initiatives. When priorities and initiatives lie dormant, question how strategic they are. Have the discipline and courage to end-of-life them.
Practicing Prioritization in Real Time
If you want to strengthen your employees’ prioritization skills, consider an Insight Experience business simulation. Our simulations present realistic business challenges that require participants to apply prioritization techniques and best practices in the context of executing strategy.
