Why Your Strategy May Fail and 3 Things To Do About It

Why Your Strategy May Fail

Do You Know Why Your Strategy May Fail?
Not all strategies lead to results…even the best laid plans may not yield the outcomes you hope for.   Yet, few executive teams spend the time required to identify and overcome why your strategy may fail and the associated strategic barriers to success.

Only 10 Percent of Strategies Get Fully Executed
How bad is it in the corporate world?   9-out-of-10 strategies fail to meet expectations.  According to research by IBM, only 10 percent of organizations manage to successfully implement their strategies on a consistent basis.  This is pretty shocking and worrisome.

What’s Going Wrong with Strategy Execution?
We find five key reasons why your strategy may fail.  Most identify where corporate strategy execution fails to meet the mark.

1. Too Complex
Not least of which is the complexity of today’s marketplace. Large companies deal on a global level with multiple divisions producing a variety of offerings. It is increasingly difficult to get the right product or solution to the right customer at the right time at the right price.

2.  Varied Buy-In
Strategic buy-in accounts for 31% of the difference between high and low performing strategies.  If employees aren’t actively involved in creating the strategy or if they don’t have a clear understanding of the organization’s plan for success and what it means for them, how can they help support it when the going gets tough?

3.  Lack of Accountability
But perhaps the greatest fault lies in the lack of follow-through. Unless and until the workforce believes that the strategy matters, that it is committed to at the highest levels, and that there will be consequences for those who don’t support it, employees tend to go about their business as usual.

4.  Culture or Talent Misalignment
Even companies with clear and believable strategies can be thwarted at execution time by misaligned culture or talent.  Why?  Because strategies must go through culture and people to be successfully implemented.  Winning strategies are implementable in your unique culture with your people.

5.  Conflicting Performance Measures
A company is only as strong as the sum of its parts.  If sales is at odds with marketing or product development, or if multiple business units are competing for the same customers or resources, or if teams are striving for conflicting outcomes, overall success will be diluted.  Make sure your success metrics align across regions, functions, business units and teams if your strategy needs synergy to succeed.

Three Steps to Decrease Your Chances of Strategic Failure

1.  Develop a Plan That Has a Few Crystal Clear Goals
Don’t try to cover too much at once. Focus in on the few critical strategies that will make the most difference in your business. We find the most successful leaders have two or three main strategic thrusts that rally the entire organization.

Any more than that, and focus gets weakened.  Whatever you choose to address, keep it simple.

2.  Actively Involve Those Responsible for Executing the Strategy
Remember that it is not the executives who, ultimately, will implement your strategic plan. You need every employee to get behind the strategy and drive it toward success. This means that you have to involve them in creating it.

At a minimum you must present the plan and invite input in order to gain commitment. Share the reasons for the plan and inspire employees with your view of a successful outcome. Frequent, consistent, across-the-board messages and opportunities to discuss the strategy are the minimum required to begin to gain buy-in and commitment.

3.  Create Accountability and Follow Through
Develop clear success metrics to track progress toward strategic goals. Be transparent as benchmarks are met or not. Show that you are serious about execution by holding employees accountable for results.

Recognize and reward those who work toward the end goals and have consequences for those who don’t. Meet on a regular basis to look at how well you are doing and what you could do better.

The Bottom Line
Winning strategies outline clear and compelling choices about where to play and what critical few actions to take. Strategic planning is the beginning, not the end.  If you keep it simple, actively involve your key stakeholders from the outset, and hold people accountable, you have a good chance of beating the odds.

To learn more about why your strategy may fail and how to beat the odds, download 7 Strategic Clarity Warning Signs to Pay Attention To

Comments are closed.

I consistently look to LSA Global when I need custom programs put together for my client groups. I can always count on LSA to do a thorough needs analysis and to put together spectacular programs that are well received. Their management development and performance management expertise and professionalism make them one of my top-rated learning and development partners.

Stephanie Webb
HR Program Manager

Rambus

Our company engaged LSA to do a specialized “train the trainer” program, and the consultant’s performance outdid our exceptionally high standards for such a program. Very crucial to the success of this program was the work done upfront to discuss our needs and to interview key members of our organization so that the program specifically met our goals. Our facilitators continue to comment on the success of the program. Thanks also for the follow-up.

Frank Abbott
Chief Financial Officer

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.”

Beth A. Taylor
Vice President of Human Resources

Thoratec

I’ve partnered with LSA Global at two companies now, and I consider them a valuable and trusted training and consulting resource. They recommended just the right solution to address our management development needs and have wonderful facilitators that match YuMe’s culture and style of our management team. I would highly recommend LSA Global to any company wanting to deliver quality learning solutions with a valuable learning and development partner.

Maya Paul
HR Director

LSA has become the gold standard in team building and management training at Genomic Health! I have a hard time finding facilitators that come close to their level of customization, expertise and experience.

Emily Couey
Director of Human Resources

The Next Generation Management Development courses have helped me communicate more effectively with my peers and teammates. By utilizing effective communication techniques such as clarifying and confirming, and asking open ended questions, I have been able to clarify and understand information in situations where I would have otherwise asked limited questions and made false assumptions.

Robert Breckner
Firmware Engineering Manager

LSA’s consultant designed and delivered a half-day team building solution for our recent conference. It included careful customization to integrate the design with our new mission and values. Everyone had fun and identified key issues with our teamwork. Altogether a great program!

Bob Ward
Director of HR

We partnered with LSA Global to help us invest in our people in the areas of performance coaching, diversity, and inclusion. They focused on helping us succeed and were very flexible in meeting our specific needs. LSA Global exceeded my expectations from a speed, quality, and value standpoint. I would recommend LSA Global to anyone looking for a true business partner.

Anita Luckinbill
Director, Human Resources

I have worked with LSA Global at previous companies and welcomed the opportunity to bring them in to support my new organization. We worked closely with LSA to design a solution for our Client Partner Teams and Management Training on both coasts. LSA designed a customized solution for our business and organizational culture. LSA is a quality organization, one that I’d recommend to any company looking for a first class training and consulting partner that makes an impact.

Laurie Torres
Chief People Officer

Thank you to LSA Global for their partnership and support in helping us to design and roll-out our valuable management development training program. I personally have partnered with LSA Global at four of my previous companies. It continues to be a delight working with LSA. We look forward to partnering with them at Blackhawk Networks for future training and consulting needs.

Suzanne Kinner
VP Human Resources

Blackhawk Network

Each program is preceded by an assessment of the participants. The course is then designed to fit the specific parameters and needs of the group. The highly interactive delivery is provided by recognized experts in their fields. On the spot coaching is provided during the program and each participant receives individual follow-up after the course. Courses can be delivered in-person or virtually. Given the nature of Cisco’s business and the way we operate, these remote workshops are a must for anyone who joins our company. Their work is eye opening. Great content and fantastic delivery.

Frank J. Kuypers
Business Development Manager

LSA’s Employee Engagement Consulting and Survey work has provided critical visibility into: how well our people are holding up under the general economic environment, as well as, the specific challenges that face biotechnology companies in their efforts to discover and develop new medicines; their level of alignment and commitment to XOMA’s Vision and mission critical strategies; how leadership practices and management systems support an environment that engender commitment, and the specific actions that our leaders can take to improve on areas that are important to our people. I highly recommend LSA’s employee engagement solutions.

Chris Wells
Vice President, HR and IT

Harmonic has worked with LSA for over 8 years. We have found their partnership extremely beneficial. We recently implemented a Management Development Program that was designed and customized to support our company’s strategic initiative of hiring, building, and retaining key intellectual property and human talent. We worked closely with LSA to target and implement the right solutions with the greatest impact. I would recommend LSA to any company that’s looking for a trusted training and development partner.

Janice Passarello
Director of Human Resources

I highly recommend LSA Global to anyone who is looking to improve individual or organizational effectiveness through their top quality programs and broad range of expertise.

Greg Pappas
VP of Human Resources

LSA is an instrumental training outsourcing partner in helping us to build management capacity and strategically invest in our people. Their flexibility, depth, and breadth of expertise allows us to deliver top quality solutions that are directly tied to key business plans. Their ability to custom design, deliver, and evaluate our Management Curriculum has been excellent. They are true business partners and a pleasure to work with.

Margaret M. Mader
Vice President, Human Resources

Hyperion

Evaluate your Performance

Toolkits

Toolkits

Download key published insights and tools from industry experts highlighting best practices in the areas of talent, strategy and culture.

More

Health Checks

Health Checks

Want to know how you stack up against leading organizations?  Receive a complimentary benchmarking analysis courtesy of an LSA Expert.

More

Whitepapers

Whitepapers

Get up to speed on timely solutions critical to your business. Published by LSA Experts based upon client feedback and key industry trends.

More

Methodology

Methodologies

First we identify the key metrics you want to improve. Then we assemble a dedicated team of elite experts who have successfully solved similar problems with similar clients.

More

Blogs

Stay up to do date with the latest information on how we help high growth companies align their culture and talent with strategy.

More

Case Studies

Client Case Studies

Real world consulting and training approaches from LSA projects, providing insights on how your company can outperform the competition.

More