Successful Strategy Implementation
Strategic vision needs successful strategy implementation to create sustainable results. While a runaway product (e.g. the iPhone) or an innovative technology (e.g. cloud computing) can put you and your company on the path to success, successful strategy execution is the difference between short- and long-term staying power.
Blinded by Success
Blockbuster growth can also hide significant strategy, culture and talent flaws that will rear their ugly head when your competitive advantage undeniably shrinks (e.g. Sony PS2 when the Nintendo Wii came out.)
High Strategy Execution Failure Rate
Strategic Clarity Sets the Stage for Successful Strategy Implementation
We think it’s a matter of the strategies having problems from the start. Our organizational alignment research found Strategic Clarity accounts for 31% of the difference between high and low performing teams and organizations.
RELATED DOWNLOAD: Is Your Strategy Clear Enough?
Strategies Must Adapt to Support Successful Strategy Implementation
Effective strategic plans allow companies to take advantage and win in light of their assumptions about their markets, customers, competitors, and employees – as long as your strategy actively adapts.
Our organizational alignment research rated Market Responsiveness and Timely Information Flow Across Boundaries in the top four attributes required for high levels of:
Underperforming companies persist, despite major shifts in their predictions, in following their strategic plan step-by-step, year-by-year, without sharing concerns, plans, and alternatives.
How to Increase the Odds of Successful Strategy Implementation
Once your strategy is clear enough, believable enough, and implementable enough, the best companies design strategy execution approaches that fit today’s complexity, volatility, and uncertainty. Their successful strategy implementation methodologies are:
The Bottom Line
A clear, believable, and implementable strategy is a must. It is where you have to begin. But don’t neglect to design strategy execution elements that allow you to make moves, assess results and refine plans as you go.
To learn if your strategic growth plans are clear enough to execute across your organization, download 7 Strategic Clarity Warning Signs to Pay Attention To
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