Blockchain strategies  193

Benefits of CoE

CoE can provide multiple benefits to an organisation and can act as a Swiss

knife to solve complex integrated issues. The following are some of the ben-

efits of establishing a successful CoE:

• It can enhance the way of working for an organisation to flourish

innovation

• Improve staff productivity

• Reduction in operation cost

• Re-energise stalled projects or products

• Improve innovation culture in the organisation

• Decrease turnover of the staff

• Support staff and improve their knowledge of innovative technologies

• Accelerate transformational initiatives and remove any blockers

• Prepare the newly hired and existing staff on transformational pro-

gramme deliveries

• Transform the organisation to compete in the market to support the

business outcomes aligned to the strategy

Evaluation of strategy execution

A successful strategy execution involves evaluation of all programmes

supporting on a regular basis. Strategy execution and adoption cannot

be successful without a 360° feedback loop and continuous improve-

ment. Evaluation of the strategy execution is one of the most important

steps in the whole lifecycle of successful strategy execution and delivering

outcomes.

Requirements for Strategy Execution Evaluation

Evaluation of strategy execution is a continuous process. Without an evalu-

ation of the strategy execution, there is high probability for it to fail. There

are multiple programmes that get initiated as part of the strategic objec-

tives. It is essential to establish continuous feedback and a communication

channel to evaluate the progress and success factors for them.

The following are the requirements:

• Senior management and sponsors of the strategy need to know about

the progress

• Release of the allocated budget for strategic objectives and under-

lying programmes require communication of the deliverables and

progress