Why is strategy execution so hard?
Today’s economic challenges and the changing landscape for businesses makes executing strategies (strategic) even more critical. Yet, as many as 70-90% of businesses fail to deliver on their strategy. It comes down to the difference between working in the business (operations) vs. working on the business (delivering on strategy).
While we may imagine that the barriers to executing strategy are often external – like the economy, competition or customer demographics; it is actually internal issues that get in the way of successful execution. These include: the way we work together, senior management challenges, corporate culture and past habits.
The five key ways to ensure organizations focus on execution are:
- Focus on a few key strategic goals
- Establish measures and metrics to track performance
- Assess initiatives using a screen against of strategic effect and cost benefit
- Execute projects that deliver benefits
- Review progress against your performance indicators
SPM uses The Effective Enterprise Model and its component parts – SIRF , Change Agents, and Continuous Transformation to enable successful execution. We help organizations become laser focused on execution excellence.
Contact us to discuss how we will assist you and your organization with your execution challenges.