So many businesses have great strategies, but they can still fail if the implementation plan isn't effective, why do strategies fail so often?.
Leaders typically spend the majority of their time crafting the strategy rather than considering how they will roll it out. This imbalance is contributing to the high failure rate.
Two out of every three strategic implementation programs are not delivering on their desired outcomes, and only one in eight companies is creating long term value through their strategy.
The challenge for leaders is to apply equal focus to both strategy and implementation. To do this requires discipline, tenacity and passion. Leaders need to change their mindset and also recognize that they may not have been trained how to design the strategy but not how to implement it.
Effective implementation requires not just a recognition of the need for change to incorporate the new strategic principles and practices required, but a complete culture transformation plan.
The additional challenges of digital transformation
One prominent area that is currently making the process of strategic implementation even more challenging is the need for digital transformation.
Digital transformation is challenging due to the complexity of not just adopting new technologies but also fundamentally changing organizational behaviors.
Digital transformation requires a comprehensive overhaul of both technological infrastructure and organizational culture. Successful transformation is pervasive—it impacts every aspect of a company, from backend technological architecture to customer-facing processes, and requires a move away from product silos to an integrated customer journey approach. Moreover, cultural transformation is crucial, with leaders needing to foster a mindset of innovation, risk-taking, and collaboration.
Successful implementation of digital strategies needs to go well beyond technological upgrades to the sort of cultural transformation that will impact everyone in some way, including through new leadership approaches, increased employee engagement, positive customer relationships and effective communication in general.
Leaders must learn to foster an environment that supports collaboration and risk-taking while ensuring alignment on the company's strategic objectives. This is what will drive tangible outcomes and sustained success.
Less is more
A significant insight into how to create more balance between crafting the strategy and implementing it effectively is the principle of "less is more".
Leaders often struggle because they try to achieve too many objectives at once, leading to diluted efforts and confusion. Instead, successful leaders focus on a few well-chosen strategic actions that create clear priorities for the organization, reducing complexity and ensuring better resource allocation to achieve meaningful results.
To identify the challenges in your strategic implementation consider:
- Is there equal focus on the implementation plan as there is on crafting the strategy?
- What additional challenges might digital transformation present for your organisation, and what special considerations might need to be made?
- Have you identified the priority objectives and created a realistic and achievable implementation plan?
You might be surprised at how much more effective your strategic roll out can be when you spend the same time ensuring it is implemented well.
This article frst appeared at Tirian.
Tirian specialises in organisation transformation through strategic innovation. Our interactive experiences help leaders & teams reflect on innovative & practical solutions around relevant business issues.
www.tirian.com
