Over the past 25 days, we’ve been discussing strategy.
In our last post, we shared reviewing your strategy on a regular basis (we suggest monthly) is critical for successful execution.
Mankins and Steele also talked about the strategy – execution gap and ways you can ensure your strategy is executed.
The authors state that less than 15% of all companies make it a regular practice to compare business performance to its prior-year strategy. Asking, did our strategy work?
They also identified the top reasons why strategies fail:
Inadequate or unavailable resources
Once you’ve developed a strategy you need to make sure you have committed the resources to actually execute the strategy you’ve identified.
Seems simple, but it was the biggest barrier to strategy execution.
Need help with your strategy? Contact Us.