Why Strategy Implementation is important?
Consider the following facts about Business Strategy:
- While 80% of organizations have 3 year ‘Goals’ they hardly have any defined strategy!
- 80% of all organizations that have well-defined strategies fail to execute them well.
- Less than 5% of employees understand an organization’s business strategy.
- 60% of organizations don’t link strategy and budgeting.
- Large enterprises are no way better than the smaller ones. In fact, most large enterprises have a well-crafted business strategy, but they fail in Execution!
Source: Large Research Organizations & Consulting firms such as Wharton, Renaissance Consulting, etc
No matter how great your Strategy is, it wouldn’t make any difference, as long as it is not implemented well.
Remember, unless your strategy isn’t grossly wrong, mostly strategies would yield equally good results as long as implementation is seamless.
Rolls-Royce and Ford have completely different strategies and both of them are successful. Think about it.
