The following message may be hazardous to a leader’s health and an organization’s survival. Warning :
90% of strategies fail to deliver even 50% of their e i t objec v s Bridges Research since 2000
70% of organization, who focused on execution, reported they were “performing better ” than their peer group or that they had achieved “breakthrough results.” Palladium
74% of leaders believe that most important aspect of strategy execution is spelling strategy out into clear language.
The best strategy a company can adopt is one that it can implement, but strategy execution is often ignored during strategy discussions. An article in McKinsey Quarterly JANUARY 2011 Chris Bradley, Martin Hirt, and Sven Smit
Implementation is about taking the right action to create an outcome which would not have otherwise occurred. Robin Speculand
IKEA is one of the most successful furniture stores of all time and just like Dell in its hay day, everyone understands the model but no one has succeeded in copying IKEA. IKEA is obsessed with... excellence in execution.
Only 5% of employees have a basic understanding of the company strategy. Bridges 2012 Research
When strategy fails we blame the strategy, rarely the implementation. Robin Speculand
Strategy is about... making the tough choices. Implementation is about… taking the right actions. Robin Speculand
80% of leaders feel their company is good at crafting strategy. 44% at its implementation. Bridges 2012 Research
Only 2% are confident that they will achieve 80- 100% of their strategy’s objectives. Bridges 2012 Research
Execution without people engagement is impossible.
Employees with a high level of engagement: Perform 20% better and are 87% less likely to leave the organization
“list their five biggest initiatives and projects” Ask CEO: “list the top strategic thrusts of the company” Ask the CEO’s direct reports: Implementation Discrepancies:
70% of leaders spend less than one- day a month reviewing strategy. Bridges 2012 Research
Always ask when planning: “What will get in the way of our plan?”
Always ask at the start of your meeting: “What have we done this week to implement our strategy?” Always ask in your weekly meeting:
There must be a clear line of sight between actions being asked to be taken and overall objectives of the strategy.
Strategic discussions are at a round table where he expects everyone to pursue what is best for the whole company. CEO holds his regular business reviews at a rectangle table where he expects his managers to represent the interest of their business
The top three toughest implementation challenges leaders perceive are: 1.Ensuring staff members take different actions 2.Aligning implementation to the company’s culture 3.Gaining people’s support Bridges 2012 Research
Sharks have to keep moving, even when they are asleep - just like implementation.