Perspective | February 2021
Strategy execution requires four steps to function properly.
– Strategic planning that translates strategy into action
– Organization that aligns people to the strategy
– Performance management
– Strategic control
For some companies these steps are missing or not working.
Executives experience many barriers in executing their strategy.
Perspectives from the C Suite
What are the biggest barriers to successful strategy implementation in your organization?
(% respondents)
Note: Survey of 587 senior executives globally, 2013.
Source: Economist Intelligence Unit
With minimal intervention, most barriers can be removed.
Ultimately, the speed of execution is a choice by the CEO, controlled entirely within the confines of the organization.
Perspectives from the C Suite
Where in your organization does the responsibility lie for managing the implementation of strategy?
(% respondents)
_____
Strategy execution confers the most significant competitive advantage to the firm. With it, the company can move ahead on its initiatives. Without it, it gets stuck, and its strategy becomes quickly obsolete. Therefore, it pays to fix it.
Key questions to think about
– How long does it take to get the strategy deployed?
– Where do initiatives get stuck?
– What controls are in place to steer and correct execution?
To learn more about how we help, see what we do at Strategy Execution or contact us directly.
Great Prairie Group is a management consulting firm that specializes in strategy and corporate finance. The firm assists US and EU groups in their growth strategies, and PE funds in maximizing the value of their investments.
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