From strategy to action

I have witnessed that irrespective of company size or market sector, the most difficult challenge for companies in strategic management is at the execution stage. Implementation often lacks the systematic approach, structure, and accountability required to turn great plans into embedded activities and demonstrable results. This crucial phase, where strategies are translated into actionable tasks, frequently becomes a bottleneck that stifles the potential of well-conceived strategies and the planned value creating objectives.

An alarming statistic

This assertion is not merely anecdotal; it is backed up by research from a number of sources globally. According to HBR and McKinsey, 78% of strategic initiatives fail to achieve their intended outcomes (according to research published by Harvard Business Review, McKinsey, and Gartner).

This statistic is alarming and indicative of a pervasive issue across various industries. It highlights that despite the best efforts in strategic planning, the execution phase remains fraught with challenges that can undermine even the most well-thought-out strategies.

Typical factors for failure

From my experience, this can be due to a number of factors including: lack of accountability, lack of clarity in planning communication, lack of communication to the company as a whole to ensure smooth embedding of any required changes within the organization.

The absence of a clear framework for accountability often leads to confusion and a lack of ownership among team members, resulting in a diminished commitment to the strategic goals. Additionally, when the planning details are not effectively communicated, team members may find themselves unsure of their roles and responsibilities, which can significantly hinder progress.

Trying to get too much done too quickly

The most common issue i have experienced is attempting to implement too many action plans at once, often without robust prioritisation and by managers in addition to their own day-to-day operational duties and priorities.

This overwhelming approach can lead to fragmentation of efforts, where resources are spread too thinly across multiple initiatives, diluting focus and effectiveness. Managers, who are already burdened with the daily demands of their roles, may struggle to allocate the necessary time and energy to these strategic initiatives, resulting in a lack of momentum and progress.

Prioritise plans based upon forecast value, impact and accountability.

The resulting outcome is company investment in time and resources into projects which fail to deliver the value-creating objectives planned. This not only leads to wasted resources but can also have a detrimental impact on employee morale and trust in leadership. When teams see initiatives fail to materialise as promised, it can create a sense of disillusionment, making them less likely to engage with future strategic efforts.

Thus, it is crucial for organisations to recognise these pitfalls and implement a more structured, prioritized, and accountable approach to the execution of their strategic plans. By doing so, they can enhance their chances of success and ensure that their strategic vision translates into tangible results that drive growth and innovation.