,%20then%20its%20core...){kind=link}
Identifiying Barriers to Strategic Execution
The breakdown of a great many approaches to delivering strategic outcomes which
are fundamentally designed to satisfy shareholders, delighted customers, and create efficient and effective processes and build a motivated and prepared workforce is a lack of strategy execution.What we call a Strategy Execution Pyramid begins with looking at an organization's mission (why we exist), then its core values and beliefs (what is important to us), its vision (what we want to be), and its strategy (our game plan to get us there).
I call this nothing more than wall art. Have you ever seen these often vague and nebulous statements not only spouted out, but actually worshipped and accepted as the end-all and be-all to the company's overall success? Many companies go as far as framing these and glorifying them in their corporate hallways, yet ask three individuals in different geographies or functional silos of the company and they will give you three very different answers on where the organization is headed.
Can you imagine driving a car without a dashboard? Most would agree that this would be ludicrous, yet many organizations don't operate in real time, based on input from a strategic dashboard. Not only should the status of current strategic implementations help you to gauge your progress, determine whether you are on the right track, and close the gap between your current and future state, but it should also help your organization better focus its valuable resources such as limited capital and critical relationships.
What are some of the strategic initiatives outlining what we need to do and even if we can who is responsible for asking whether or not we should do certain things? Specific actions we need to take are seldom ever tied to corporate mandated strategic initiatives, nor is the dashboard we discussed earlier used to track their progress.
For some reason perhaps fear of the global war on talent we continue to lower the bar and aim to accept less. We reward tenure over performance and as such, reject the notion of holding the entire organization, specific teams, and certain individuals accountable for their lack of willingness, ability, and sheer will and determination to make things happen.
Below are four common fundamental barriers to strategic execution: division, people, management, and resources:
Division Barrier In our research, we have found that only 5 percent of the workforce really understands the company's strategy. Down in the mailroom, where the simple execution of the strategy is critical, there is often the biggest disconnect between everyday actions and broader strategic initiatives. This ultimately reduces efficiency and effectiveness and halts the communication of a common vision.
People Barrier Only 25 percent of managers have incentives linked to strategy. If you want to know someone's motivation, follow the money. Which strategy execution-centric (read: performance-based) moves their needles and get their attention to execute? This applies to a broad-based audience previously made comfortable by the welfare state of a presumed paycheck.
Management Barrier Some 85 percent of executive teams spend less than one hour a month discussing their strategic options.
Resource Barrier Some 60 percent of organizations don't link their budgets to strategy. Is there any real surprise that 9 out of 10 companies fail to execute on their strategy?
It takes Strategy Execution to move beyond the decorative wall art that rings hollow in so many hallways. Remove corporate divisions, spend time on strategic discussions, and link incentives and budgets to strategy execution and you soon will find that the right things start getting done within your organization.
Identifiying Barriers to Strategic Execution
By: David Nour Stop Trading Ivory Tusks Us Option Trading - Four Simple Steps to Success STRATEGIC PLANNING STRATEGIC PLANNING IN INDIA Managed Accounts Trading Notification - Sale Of Fmg And Nab Benefits Of Commodity Trading Plan Commodity Trading Risks And Benefits Foreign Exchange Trading Discount Online Shopping on eBay and Thousands More Online Retailers Knowing Your Path: Your Trading Plan And You Research The Key In Commodity Trading Mi Developments Inc (mim.a) - Financial And Strategic Analysis Review --- Aarkstore Enterprise Best Fragrances At Wholesale Prices