Are you kidding me? Over 70% of organizations struggle with execution according to a recent article from the Harvard Business Review entitled Why Strategy Execution Unravels – and What to Do About It.
Here are the top three challenges and solutions to consider.
1. The market conditions will change.
Yep, I said, “Change will happen.” So that means your strategy should be treated as a process and constantly be updated and challenged. The better you can predict the future the better prepared you will be to win. You need monthly, quarterly and annual reviews to keep your plan current and on-track.
2. Culture eats strategy for lunch.
If you don’t have a culture focused on high-performance then the only other answer is low performance. Focus on rewards, recognition, teamwork and agility! [Again, refer to Culture Corner below]
3. Communicate, Communicate, and Communicate.
Your job as a leader is to constantly and consistently deliver the strategic direction and strategic priorities. Go ask your managers to name your top 3 strategic priorities. According to the recent article, only half of middle managers can name any of their company’s strategic priorities. Get your marketing team involved in strategic communication and develop a broad and deep plan so that all employees understand the strategic direction.
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