“Change is inevitable - growth is optional. Change knocks the wind out of all good plans. Unless performance is reviewed regularly, growth becomes stunted. We get what we inspect, not just what we expect.”
Strategy Driven Execution Management - Why It's Needed
For the past few years, numerous professional consulting groups and institutions of higher learning, such as Harvard Business School and the Wharton School of Business have looked at the root causes of failure to execute on strategic plans and their findings are remarkable and very telling:
- Approximately 75-80% of organizations with strategic plans fail to follow-thru with the plans.*
- Companies that successfully implement a strategic plan are a minority, with estimates ranging from 10% to 30%.**
- Studies indicate that less than %5 of the typical workforce comprehends their organization’s strategy. Without understanding the general course of strategy, employees can’t contribute to an effective implementation.**
- Only 1 in 10 workers have a clear line of sight between their tasks and company goals.***
- Among organizations without a formal strategy execution process in place, 75% were underperforming or, at most, matching the average performance of their peers. Having a formal strategy execution system apparently makes strategic success up to three times more likely. ****