The strategy is usually defined by executives, but implemented by different people. How will you make sure that the strategy is correctly understood, expectations do not deteriorate with time, tactical initiatives bring expected value?
There should be a feedback loop to track how initiatives executed, detect deviations from the expected outcomes, find opportunities to improve, and implement corrective actions:
- There are some cases where we could track performance intuitively, but in the majority of complex cases intuition benefits from actual measurements defined explicitly.
- All the measurements are useless if they only to find reasons why we have not arrived where we wanted. There should be people interested to maximize value and be accountable for that. Their role is to find deviations as soon as possible and raise questions what is needed to make it better.
- It is often that people, who see the problems or opportunities to improve, do not have enough time or power to initiate the corrective actions. It is the executives job to create conditions encouraging corrective actions really happen.
If you want more on the subject, but want to get it in a condense format, there is a great article on Harvard Business Review - Turning Great Strategy into Great Performance (https://hbr.org/2005/07/turning-great-strategy-into-great-performance).