{"id":3213,"date":"2013-02-11T13:10:02","date_gmt":"2013-02-11T12:10:02","guid":{"rendered":"https:\/\/www.strimgroup.com\/?p=3213"},"modified":"2020-07-11T09:41:38","modified_gmt":"2020-07-11T07:41:38","slug":"strategy-execution-study","status":"publish","type":"post","link":"https:\/\/www.strimgroup.com\/en\/blog\/strategy-execution-study\/","title":{"rendered":"Strategy Execution Study"},"content":{"rendered":"<p><span id=\"result_box\" lang=\"en\"><span class=\"hps\">In January 2013 STRIM<\/span> <span class=\"hps\">introduced <\/span><span class=\"hps\">a<\/span> snap<span class=\"hps\"> poll<\/span> <span class=\"hps\">on strategy execution. The guiding question was:<\/span><\/span><br \/>\n<em><span lang=\"en\"><span class=\"hps\">What are the essentials why companies fail to successfully execute their strategies?<\/span><\/span><\/em><\/p>\n<p><span id=\"result_box\" lang=\"en\"><span class=\"hps\">The online survey<\/span> was sent <span class=\"hps\">to<\/span> <span class=\"hps\">about 300<\/span> <span class=\"hps\">international executives. <\/span><\/span><span id=\"result_box\" lang=\"en\"><span class=\"hps\">Until<\/span> <span class=\"hps\">the beginning of February<\/span>, we received <span class=\"hps\">87<\/span> <span class=\"hps\">returns. Thus <\/span><\/span><span id=\"result_box\" class=\"short_text\" lang=\"en\"><span class=\"hps\">the<\/span> <span class=\"hps\">response rate was<\/span> <span class=\"hps\">29 percent.<\/span><\/span><\/p>\n<p><span id=\"result_box\" class=\"short_text\" lang=\"en\"><span class=\"hps\">Below<\/span> <span class=\"hps\">we have listed the<\/span> <span class=\"hps\">main reasons<\/span> <span class=\"hps\">categorized<\/span>:<\/span><\/p>\n<p><strong>Strategy, Vision &amp; Mission<\/strong><\/p>\n<ul>\n<li>Poor or inappropriate strategy.<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Strategies are not clearly linked to the Vision, Mission and Values. <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Strategy should be simple, but it is often made far too complex for myriad reasons (power struggles, group think, lack of logic, etc).<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Failure to do a customer impact analysis on the strategy: What will the customer realise as a result? What about the other stakeholders?<\/span><\/li>\n<\/ul>\n<p><strong>Leadership &amp; Strategic Alignment<\/strong><\/p>\n<ul>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">A failure of management to think strategically &#8211; weak strategic muscles.<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">A failure of management to understand that execution is all about people and process<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">There are too many #1 priorities and strategic initiatives. <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Leadership at all levels lacks the courage to take real risks. Without risk, there can be no reward.<\/span><\/li>\n<li>Inappropriate skills on the leadership team to execute the strategy.<\/li>\n<li>Functional\/departmental goals instead of strategic objectives<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Keeping the planning process a &#8220;secret ceremony&#8221; &#8211; not involving those who really understand the organisations capability and should participate<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Lack of alignment and &#8220;buy-in&#8221; from all management team members. <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">A failure to consider all critical inputs that would allow an effective strategy to be crafted and implemented.<\/span><\/li>\n<\/ul>\n<p><strong>Accountability &amp; Engagement<\/strong><\/p>\n<ul>\n<li>Unclear accountability as to who owns what in the strategy.<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Failure to establish and hold accountable key individuals for strategy execution &#8211; lack of proper monitoring and review and adjustment as needed <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Not setting clear performance expectations for staff <\/span><\/li>\n<li>Poor employee engagement in the strategy<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Not empowering staff to get the job done &#8211; management should get out of the way and stop micromanaging <\/span><\/li>\n<\/ul>\n<p><strong><span class=\"comment-body\" data-li-comment-text=\"\">Process &amp; Structure<\/span><\/strong><\/p>\n<ul>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Strategy development and execution are not systematic, repeatable processes &#8211; in fact they are not processes but a loose collection of disconnected activities.<\/span><\/li>\n<li>Lack of a formal strategy execution business process.<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Believing that &#8220;strategy&#8221; follows and should fit the &#8220;structure&#8221;.<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Lack of a clear roadmap of projects aimed at delivering the strategy, the current portion of which are prioritized in the project portfolio based on available resources and an organizational and cultural plan for change.<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Failure to leverage core or organisational competencies.<\/span><\/li>\n<\/ul>\n<p><strong>Adaptability &amp; Communication<\/strong><\/p>\n<ul>\n<li>Weak or wrong metrics around the strategy.<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Metrics are too generic, particularly when they are not revenue related, no distinction between lagging indicators and leading indicators. <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Failure to identify the critical success factors for achivement of the strategies as well as the potential barriers and how to overcome them.<\/span><\/li>\n<li>Lack of regular follow-up throughout the year so strategy replaced by day-to-day operations issues.<\/li>\n<li>Corporate culture not appropriate for the strategy; culture acts as a barrier.<\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Behaviours which are not in alignment with organisational values &#8211; e.g., taking the hill at any cost regardless of the colateral damage. <\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Lack of communication (people) skills.<\/span><\/li>\n<li><span class=\"comment-body\" data-li-comment-text=\"\">Communication stops to soon or doesn&#8217;t clearly link the initiatives to the strategy, resulting in low\/lack of employee engagement.<\/span><\/li>\n<li>Poor understanding and communication of strategy within the organization.<\/li>\n<\/ul>\n<p><span id=\"result_box\" lang=\"en\"><span class=\"hps\">For further information<\/span> <span class=\"hps\">please contact Dr.<\/span> <span class=\"hps\">Volker Mayer.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span id=\"result_box\" lang=\"en\"><span class=\"hps\">In January 2013 STRIM<\/span> <span class=\"hps\">introduced <\/span><span class=\"hps\">a<\/span> snap<span class=\"hps\"> poll<\/span> <span class=\"hps\">on strategy execution. The guiding question was:<\/span><\/span><br \/>\n\t<em><strong><span lang=\"en\"><span class=\"hps\">What are the essentials why companies fail to successfully execute their strategies?<\/span><\/span><\/strong><\/em><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[695,698,691],"tags":[],"class_list":["post-3213","post","type-post","status-publish","format-standard","hentry","category-culture-of-innovation","category-engagement-2","category-strategy-execution"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/posts\/3213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/comments?post=3213"}],"version-history":[{"count":3,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/posts\/3213\/revisions"}],"predecessor-version":[{"id":12378,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/posts\/3213\/revisions\/12378"}],"wp:attachment":[{"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/media?parent=3213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/categories?post=3213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.strimgroup.com\/en\/wp-json\/wp\/v2\/tags?post=3213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}