Strategy execution a Must Win Battle
A brilliant strategy, blockbuster product, or breakthrough technology can put you on the competitive map, but only solid execution can keep you there.
Five percent of the challenge is the strategy. Ninety-five percent is the execution
Many organizations today are not ready to execute new business strategies in response to rapid, transformational change. The gap between strategic intent and strategy execution creates a drag on performance while increasing risk exposure.
Setting strategy is elegant. It’s a clean and sophisticated process of collecting and analyzing data, generating insights and identifying smart paths forward.
Mind the gap between strategy and execution – Make sure to close the strategy gap!
But then the trouble starts! Execution is a minefield. The clean and elegant logic of strategy gets dirty in the real world. Various sources have reported implementation failure rates at between 60 and 90 percent.
It’s the age old challenge in strategic planning – how to close the gap between strategy and execution?
Mindset drives strategy execution
Mindset is perhaps the least understood, but most important driver of exceptional strategic execution. It is the turbo-boost in the execution engine. Frequently undervalued and dismissed as soft or intangible, mindset delivers real business results.
In strategy execution, emotional commitment is critical. Employees will only adopt a new initiative if they believe that it is the right strategy.
Better alignment enables successful strategy execution, improves overall performance and delivers financial returns. Don’t forget organizational culture when drafting corporate strategies.
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Close the strategy gap – Gap between strategy and execution — https://www.torbenrick.eu/t/r/qca
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