Successful execution of strategy
Creating a strategy aligned organizational culture – The critical role of organizational culture
A brilliant strategy, blockbuster product, or breakthrough technology can put you on the competitive map, but only solid execution can keep you there. Execution of a sound strategy very much depends upon the organizational culture.
If strategy is deciding what to do, execution is all about making it happen. It’s the follow through.
The organizational Pac-Man is always hungry
A company’s capacity to quickly and effectively execute business strategy is, in itself, a competitive differentiator, one that is highly correlated with positive market performance.
But this ability isn’t common. It’s estimated that more than 60% of strategies are not successfully implemented. In many cases the problem can be boiled down to the fact that the execution of strategy is not supported by the culture of the organization.
Create and maintain the right cultural fit for the strategy
When companies get the culture right – by aligning it to the strategy – there is a much higher rate of success than when culture is not aligned to strategy.
Culture eats strategy, but strategy needs culture for sustenance. A culture without strategy is like a ship of fools – yet a strategy without culture is but a dream. Culture and strategy are inseparable.
So don’t leave organizational culture unattended!
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Successful execution of strategy depends upon the organizational culture — https://www.torbenrick.eu/t/r/fkk
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