Unless you can execute to it! Continuing studies indicate that 90% of all companies do not execute their strategic plans effectively. So, only 10% of companies execute their strategies!? Why is there a problem with Strategic Execution™ the ability to implement strategy effectively and sustainably? Of ten times it’s the strategy itself, or lack thereof, which isthe culprit. We will look at the other elements of Strategic Execution, systems, processes, organization and culture, in subsequent articles. For now, let’s consider the “What happened to my strategy?” question. Some companies have never had a true strategy in the first place. The owner/CEO is so hands-on and the work so tactical that the “strategy” is “keep up with orders, react and get through the day.”
Strategy might be “something we used to do, with an accompanying “It’s around here somewhere” attitude. The recent downturn pushed many companies into a simple “survive” mode. Some have yet to emerge from this to a strategy aimed at thriving.
A company may have a strategy, but it has about a quarter-inch of dust on it. We can all agree that things — global economics, technology, social and political influences — have changed a good bit over the past few years, but few companies have viewed the strategic needs of their business from those perspectives. Sound strategies in the prevailing, dynamic business environment can have short half-lives and need to be reviewed routinely.
If you’re in the 90%, it’s time to take a look at your strategy and why you struggle so much here.
Group50 Consulting offers full strategy assessment, development, planning and execution services that will cater to your specific business; these services can be found in fuller detail on our website. Our assessments identify the unique opportunities for your organization and our workshops, systems, and training provide guidance to focus on your strategy and its execution. Group50 Consulting is equipped to drive your Strategic Execution for organization-wide success and sustainability.
Stephen M. Sharp heads up Group50’s Market Effectiveness practice. Steve has 30+ years’ leadership experience ranging from small private and nonprofit to Fortune 200 companies, across varied manufacturing categories. He is a seasoned C-level executive and board member. His expertise spans: Op’s Excellence; Org. & Employee Development; Strategic Planning & Execution; Marketing & Sales; and Product Development & Channel Management.
- Customer Journey Maps – Identifying Value Through Your Customer’s Eyes
- Digital Technology
- Middle Market Growing Pains
- Does Your Business Have a Robust Social Networking Strategy?
- 5 Reasons Why Strategic Execution Fails
- Doing Business in Mexico vs. China: Strategic
- Why Hire a Strategic Planning Consultant?
- Utilizing Continuous Improvement Tools at the Business Level
- Creating a Personal Exit Strategy
- Doing Business in Mexico: Mexico’s Legal System