Tom Ricca-McCarthy, CO-Founder and CEO of Lucidity joins Kevin Appleby to talk about how to execute your business strategy.

Kevin and Tom discuss executing business strategy and the challenges involved. Tom explained that while formulating strategy is relatively easy, execution is the difficult part where a strategy needs to be translated into clear activities and goals.

They discussed how communication is key to ensure everyone understands the strategy and their role. A common pitfall is strategies end up as documents sitting on shelves gathering dust rather than being implemented.

Kevin and Tom agreed the starting point is identifying what to stop, start, and continue from the strategy. They stressed the importance of measurement and reviewing progress regularly.

Tom is GrowCFO’s guest at the February Best Practice Accelerator “Deliver your business growth plan”. The accelerator gives GrowCFO members a two-week practical challenge, and the podcast provides a flavour of the tools and techniques Tom and Kevin will share during the accelerator. Tom looked forward to helping participants in the accelerator focus on putting strategies into action using the right tools for planning, communication, and monitoring.

Executing business strategies with a focus on CFO’s role. (0:11)

Strategy execution challenges and mitigation strategies. (7:34)

Communication and strategy alignment in organizations. (13:56)

Strategy execution and planning. (19:50)

Strategy, execution, and review frequency. (26:10)

CFOs’ role in data-driven decision-making. (31:15)

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