Effective Strategy Execution Matters
What good is a new strategic direction without effective strategy execution? The best growth plans, unless implemented, are worth very little. You may have carefully plotted your path to the top; but if you don’t follow through, anchor point-by-anchor point and step-by-step, you’ll never reach your goal.
Why Strategies Stall
The track record of strategy execution is not very good. IBM found that less than 10% of well formulated strategies are effectively executed. What we hear over and over again from leaders is that their finely crafted strategic plan is not being implemented at the quality or speed that they expect.
Three Essentials of Effective Strategy Execution
To get your key stakeholders on board with your strategy and pointed in the same direction, you need them to be:
By actively involving your employees all along the way — soliciting their input as you design the strategy and including them in the decision making so they have an important and meaningful role in contributing to the organization and a say in the future direction of the company.
Accountability is the key to creating the high performance culture required for effective strategy execution.
Are you doing what it takes to appropriately recognize and reward the behaviors that you seek?
The Bottom Line
Grand plans without effective strategy execution are pretty worthless. Make sure you build an organization where employees are engaged, accountable and recognized. Strategy execution trumps strategy design every time.
To learn more about effective strategy execution, download Do You Have the Right Culture to Drive Your Growth Strategy Forward?
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