Choosing the most appropriate business approach within a firm presents a very delicate process owing to the ever-transforming business world. Discovery-driven teams operate on the basis that business firm assumptions regarding business models are appropriately tested and stated (McGrath, 2010). Execution driven teams, on the other hand, incorporate the breaking down of strategies into objectives, hierarchically incorporating the objectives, evaluating the achievement of the laid down objectives, and excellent performance (Sull, Homkes, & Sull, 2015).
Discovery-driven planning calls for chronology in handling business ideas from their conception. The executive teams are expected to steer the business towards success by pursuing crystal clear and appropriately structured guidelines (GeokChwee, 2016). Moreover, discovery driven planning creates room for exploration using business models prior to investment requirements. The discovery-driven approach enables business teams to acquire more understanding of a new idea and its incorporation requirements long before investments are made.
Additionally, the discovery-driven is primarily concerned with establishing a business growth structure that calls on a company to elaborately outline its innovative projections and the appropriate process involved in realizing the respective projections (GeokChwee, 2016). Discovery-driven approach aids in the matching of a firm’s resource endowment to its cultural practices in an effort to reduce the risk of time wastage as well as misuse of resources. Moreover, it is essential to utilize clearly innovative frameworks so to avoid any future conflicts that may arise between members of the executive committee and employees manning innovative projects (GeokChwee, 2016).
Enhancing the development of clear business goals and objectives in a business is critical in ensuring the successful incorporation of the discovery-driven approach (McGrath, 2014). Clearly stated objectives improve effective handling of challenges and complications which may arise during the implementation of newly conceived ideas.
Execution driven teams, on the other hand, usually establish vividly outlined frameworks that clearly state respective duties, schedules, and resources required during execution of innovative strategies (Sull et al., 2015). Leaders and members of execution driven teams are required to heed real factors affecting business plans on the ground, appropriately address complications that may arise during execution of business ideas, and promptly take advantage of any opportunities that may present themselves. Coining innovative solutions to unprecedented complications or taking advantage of unforeseen opportunities does not derail systematic implementation; on the contrary, it is an excellent demonstration of execution (Sull et al., 2015). Real-time reforms demand business firms be flexible despite the fact that most businesses experience difficulty in enhancing an agile business culture rendering execution driven approaches adopted by them ineffective (Sull et al., 2015).
Improved communication is critical in enhancing the success of a firm thus improved understanding of strategic objectives in relation to the overall strategy (Sull et al., 2015). Often, managers attribute failure to realize strategic objectives to detrimental business culture. However, overlaid emphasis on performance blurs execution significantly, especially when managers hold the perception that hitting their strategic targets camouflages all other organizational obligations (Sull et al., 2015). The tendency of managers to embrace cost-saving strategies at the expense of risky growth or to drain an already established business instead of establishing a new business venture assumedly guarantees more business prospects.
Efficient execution driven teams often centralize power at the top in an effort to springboard business performance in the short run despite its adverse effect on the business’ execution in the long term (Sull et al., 2015). Innovative intervention by leaders of execution driven teams from time to time may gradually lead to increased conflicts amongst group members beyond the group leaders’ resolution capability.
References
Sull, D., Homkes, R., & Sull, C. (2015). Why Strategy Execution Unravels—and What to Do About It. Harvard Business Review. Retrieved from https://hbr.org/2015/03/why-strategy-execution-unravelsand-what-to-do-about-it
GeokChwee. (2016, January 10). Discovery Driven Growth: A Practical Approach to Innovation. The Intrapreneur Club. Retrieved from http://www.theintrapreneurclub.com/discovery-driven-growth/
McGrath, R. G. (2010). Business Models: A Discovery Driven Approach. Long Range Planning, 43(2010), 247-261. Retrieved from https://pdfs.semanticscholar.org/3f08/b47c049a84fb440caaf6ee3a44c0af4e3fef.pdf
McGrath, R (2014, June 19). How Do We Get Our Middle Managers Back Into A Growth Mindset? Retrieved from http://ritamcgrath.com/2014/06/how-do-we-get-our-middle-managers-back-into-a-growth-mindset/
