Generating the strategy is the just first step in the execution journey. Managing and measuring its execution is when the value is delivered. Despite its importance to the organization, strategy execution is often left to “happen”. Implementation is assumed rather than managed.
While the statistics vary slightly depending on your source, consistently, the research into strategy execution shows around 70% of strategies are not executed successfully. TOP’s own research supports these figures; further, we have found that up to 50% of the planned strategies were never even started.
Many reasons are given for this ineffective execution – wrong strategy, wrong time, insufficient commitment to deliver, etc.
Too often, the seeds of failure are embedded from the beginning. The tools to take the strategy and ensure it can be executed are commonly missing or deficient. For example:
- The strategy is rarely validated to see if it will deliver the desired results.
- The organization’s capability to deliver the strategy is not assessed.
- Up to 80% of the project portfolio is found to be strategically irrelevant.
And so on. As a result, organizations blunder on trying to implement their strategy with limited success.
There are ten steps to simple, highly effective strategy execution. With the right tools, techniques and processes, strategy execution can be simple. We explain how to get control of, manage and measure your strategy’s execution in this book.
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