|Dynamic Strategy Implementation.|
By Amelia Dunlop, Vincent Firth & Robert Lurie
Thursday, 13th February 2014
A dynamic approach to implementation can help leaders sidestep insidious failures in execution that can doom even the most well-thought-out strategy.
Studies consistently show that many strategies fail in the implementation phase. The root of the problem may be traced to three factors: a failure of translation, a failure of adaptation, and a failure to sustain change over the long term.
A dynamic approach to strategy implementation can help overcome the limitations of the traditional administrative approach that serves as a breeding ground for these failures.
In this article, the authors discuss the key elements of this dynamic approach and how it has helped leading enterprises deliver more effectively on their strategic ambition.Studies consistently show that many strategies fail in the implementation phase.
Fighting the inside failures
Every year, top executives in organizations around the world convene their sharpest thinkers to develop strategies to enter new markets, capture greater market share, become more profitable, or otherwise improve some aspect of the business.
And every year, a large percentage of these strategies are doomed from the day they are announced. The past is littered with new strategies that were unveiled with much fanfare, only to fall far short of meeting expectations.
The impact of strategic failure varies. The most spectacular cases—when an organization bets the business on a new strategy, misses badly, and ultimately ceases to exist—are the ones that make the news. But these are the exception rather than the rule.
Much more common are instances in which a company wants to improve its business but simply does not get the results it seeks. These insidious failures may not turn into attention-grabbing headlines, but they nonetheless negatively affect companies’ performance and could prevent them from capitalizing on growth opportunities.