70% of CEO failures came not as a result of poor strategy, but the inability to execute.
Why is strategy execution so challenging for most organizations?
Strategy experts believe the answer lies within four distinct barriers that result when your strategy is not fully and effectively developed, then translated and properly communicated throughout your organization.
I’ve been writing about the Vision Barrier lately because it is one of the biggest obstacles to successful implementation and execution of your strategy. Unfortunately, most leaders, owners and CEOs don’t fully understand its paralyzing impact on their organization’s success.
If it’s true that in more than 70% of companies, only 5% of the people understand the strategy, you have huge opportunity to improve and outperform your competition!
Research reveals isolation from strategy development and complete lack of understanding of strategy may result in 7 different obstacles to effective strategy execution. The obstacle cited as most frequent and of highest importance in this research: “making strategy meaningful to frontline employees.”
The majority of employees simply don’t understand their organization’s vision. Interestingly, research shows managers don’t either!
Please let us know what obstacles you’ve identified and how you are improving employee understanding and strategic impact.
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Sheri’ Taber, CEO, The Peak Performance Group, Inc., Management Consultants, Strategy and Execution Experts