Closing the strategic vision/implementation gap for competitive advantage

Summary form only given. The paper proposes an approach called Strategic Management By Projects (SMBP) that enables the "execution-oriented paradigm" by linking and tightly integrating the strategic plan with the strategic implementation to close the gap and create the desired sustainable competitive advantage. In SMBP, the focus is on: (1) the strategic project portfolio of cross-organizational strategy-fulfilling projects, and (2) on a project implementation approach that is highly integrative and seeks to maximize the throughput velocity of the strategic project portfolio. The paper identifies gaps that exist in some organizations which inhibit the effective integration of their strategic plan with its implementation. The paper then develops the critical integrative links and processes that should be in place to bridge the gap and to attain the high velocity strategic implementation. In addition, several metrics are proposed for evaluating and improving strategic performance over time. Results on strategic performance and competitive advantage are discussed, and case highlights are provided to illustrate key points. The paper also discusses the critical role played by the CEO, CTO, and other top management in the strategic management process. SMBP has proven to be a successful process to close the firm\´s strategic vision/implementation gap and thereby improve the firm\´s competitive advantage in a rapidly changing environment