„Yes, we have made a new strategy ... But we can’t remember where we put it.“ That is the honest comment from a senior executive, I met recently.
History repeats itself. Fortunes are spent on analysis, discussion and documentation while the strategy work is in progress. Plans are turned into PowerPoint presentations. After-work meetings are held for employees. Banners with slogans, caps and badges are distributed in generous quantities to get the new strategy in place in the company. But does it work?
Surveys of top executives time and again show that managements feel that the strategic work fails during execution. A McKinsey survey reveals that 44% believe that their strategic plans weren’t executed. In the same survey 9 out of 10 emphasize the fact that the organization‘s ability to quickly change tactics or direction has become more important.
In „Strategy Execution”, 12 leaders from several countries describe the results they have achieved by implementing the change related to executing a new strategy.
The leaders had to change themselves and their organization to succeed with the ambitious strategies and to prevent the strategy process from only becoming „this month’s“ campaign.