Too Many Corporate Strategies Fail to Meet Expectations
Even well-crafted corporate strategies fail because they are never fully, consistently, or effectively implemented. The reasons are surprisingly simple and make common sense. But exactly because the reasons for strategic failure are so basic, they are challenging to correct.
3 Main Reasons Corporate Strategies Fail to Deliver
Research by IBM found that only ten percent of corporate strategies are fully executed. With all of the time and energy most companies invest in strategic planning, it is a shame that that the vast majority of corporate strategies fail to deliver for shareholders, employees, customers, and leaders. The more fundamental to the organization, the more difficult these barriers to strategy success will be to overcome.
Just as with any major project, there needs to be active involvement in the strategy design and planning process. Every stakeholder should understand and agree upon why the plan is important, their part in the plan, and what constitutes success.
Not only should the strategy be clearly stated and communicated, it needs to be clearly understood and believed across the entire organization. Unclear strategies create too much ambiguity and unproductive churn regarding important allocations, choices, priorities, and trade-offs.
The Bottom Line
If you want to improve your chances of strategic success, start by ensuring that you have a high enough level of strategic clarity, believability, and implementability with the executive team to move forward. Then actively involve those responsible for implementing the strategy in providing feedback, suggestions for improvement, and creating the final plans to make it happen.
To learn more about how to better cascade your strategy, download 3 Big Mistakes to Avoid When Cascading Your Corporate Strategy
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Why Employees Change Their Mind
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For our go to training outsourcing partner, LSA provides exactly what we want. As always, they deliver outstanding work!
Director, Organizational Excellence & Development
LSA helped us design and deliver a blended learning solution for our leaders to help drive our growth plans in a way that aligned with our specific culture and values. LSA understood our business, had deep expertise in the content areas, tailored the programs to fit our specific needs, and delivered great results. They constantly strive to deliver business impact and align their solutions with our business initiates, culture, and performance management systems. I highly recommend them to anyone looking to take their leaders to the next level.”
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I’ve been associated with LSA for the last 8 years and have found them to be an extremely professional, well managed full service training organization. Since working with LSA, I’ve participated in a number of solutions ranging from Performance Management to Assertiveness Training – I’ve found that the quality of the resources is superior. They are well prepared and have definitely done a considerable amount of pre-work in order to customize our culture and business into the total learning experience – making it most beneficial for our employees.
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Director, Software Engineering, EPG
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SPO Partners & Co
Kim Silva, CFO
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