Business Strategy Execution:
Four Reasons Why Your Companyís Strategy isnít Working
There are many different value-creation strategies your company can follow to marketplace success. Perhaps your organizationís differentiating strategy is:
Your business strategy defines your companyís intent. In essence, itís a promise Ė a promise that defines what your organization intends to deliver to its customers and the marketplace. But articulating a good strategy is only the beginning. Itís the strategyís execution that determines whether an organization can turn good intentions into profits.
Poor Business Strategy Execution is Destroying Business Opportunities
Companies invest so much time, energy and finances into identifying market opportunities and developing the perfect differentiating strategy to exploit them. Yet the vast majority of these business efforts fail. Quite often, companies and organizations blame their business failures on poor strategy. However, in most cases itís not the strategy or plan for approaching the marketplace that should be blamed. Itís the implementation of that plan and the companyís inability to ďkeep its promiseĒ that causes the enterprise to falter.
In fact, several studies confirm that poor execution is the number-one reason businesses fail in todayís marketplace. David Norton, author and professor at Harvard Business School, tells us that less than 10% of all business strategies are effectively implemented. This means that poor marketplace execution of the strategy is often the culprit, and not the strategy itself. This is a wake-up call for all business executives.
Here are Four Primary Reasons Why Your Strategies arenít Living Up to Their Full Profit Potential:
These issues share one common theme Ė your organizationís preparedness to implement the go-to-market strategy you have created. Strategy has to be more than a feel-good presentation shared with your managers, shareholders and the media. It has to be woven into the fabric of your organization.
Your employees need clear direction and the tools and processes necessary to support them. You need to ďactivateĒ your strategy. Strategy Activation is the new bridge that spans the chasm between strategic intent and marketplace implementation. It takes ďwhatĒ an organization wants to do and defines ďhowĒ it is going to do it. It ensures that every employee drives the promises made to the marketplace across every customer touchpoint every day. Without this, your strategic vision will remain a presentation and nothing more.
Pioneering Marketing Strategist, Scott Glatstein, President of IMPERATIVES, LLC can help you turn your market opportunities into record-breaking profits by bridging the traditional gap between executive-level strategic vision and organization-wide execution in the marketplace. For a FREE Special Report that will help you avoid strategy execution disaster so you can profit in the marketplace, go to http://www.imperativesllc.com/publications.html .
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