According to an Ernst & Young study, 66% of corporate strategies are never implemented. Why? Doing something new is always complicated. Those organizations and units within them, must overcome traditions, conflict of interest, internal communication channels are very poor and other cultural aspects that are tripped by any account. Here are some key management expert gives Lauren Keller in an article published by Harvard Business Review.
Consensus Strategic Plan
The seeds of the implementation problems are planted very early, often for their own development strategy: the process of defining and designing the strategy can not be seen as anything other than creating a plan to execute it.
Bill Treasurer, the founder of Giant Leap Consulting consultant, describes this phenomenon as “asphyxia executive. As Treasurer, the strategic plan is created by an executive in his “inner sanctum”, isolated from the lower ranks of the organization. As this is so, the ability to perform drops. The consultant recommends that customers invite their customers, employees or suppliers to give their views on the direction of the company on its strategy. That is, recommended shelving the vertical and go to a more horizontal model.
Understand and define the connection between strategy at the highest level and strategic objectives (supported by lower levels of the organization) is vital. “Our strategy must have a long term vision and serve as an inspiration,” says C. Davis Fogg, who is author of “implement your Strategic Plan. “Our strategic objectives are short-term efforts to move precisely toward that long-term vision.” In an ideal scenario, the development of the strategy and associated targets are part of the same, is a fluid process.