Closing the strategy execution gap through business simulations

Abstract

Purpose

The purpose of this paper is to outline the relevance of a well-defined and well-led strategy execution process with respect to corporate success. It proposes customized business simulations as an effective solution for a smooth strategy execution.

Design/methodology/approach

Business simulations can help to bridge the strategy–execution gap. To illustrate this, three representative real-life business cases from different industries are described and analyzed, which successfully utilized simulation-based strategy implementation.

Findings

Recent studies have shown that poor alignment between the executive board and the operational business levels, insufficient understanding as well as a lack of accountability within the process are the key reasons for faulty strategy execution. Bespoke business simulations can address these issues.

Originality/value

There are several existing tools for strategy execution at hand. However, business simulations strongly increase the personal involvement of the employees by fostering high interactivity and gamification to boost the strategy transformation process.

Citation

Monauni, M. (2017), "Closing the strategy execution gap through business simulations", Development and Learning in Organizations, Vol. 31 No. 4, pp. 9-12. https://doi.org/10.1108/DLO-08-2016-0069