Why strategies often fail?
The best-laid strategies of any organisation are useless without proper implementation. This is far from straightforward, however, as corporate strategy is by its nature conceptual and often complex.
Here’s what the Executives* said:
*Source – The Economist Intelligent Unit
Fortune 1000 Companies. Sample – 587 Execs, 52% C-suite, 48% Senior Managers
Delivery of short term results and not paying sufficient attention to implementation processes.
Operational challenges rather than oversight, communication and support for strategic initiatives.
Doing everything on the list instead of selecting higher priority strategic projects and ensuring resourcing for them.
Moving to the new vision and transformation without formalising and standardising processes to analyse and record lessons learned.
Pushing next level senior executives to perform better rather than hiring and developing strategy execution skills.