A recent Booz & Company study found that 60% of global executives surveyed could not say affirmatively that their companies' strategies would lead to success. This number has increased from past years highlighting what might be a trend toward executive concerns with getting strategy implemented.
Specifically, the survey found the following:
- More than half of executives (51%) said that communicating the company’s strategy and getting buy-in for it is a significant challenge at their company;
- Fifty-five percent said ensuring day-to-day decisions are in line with the strategy is a significant challenge;
- Fifty-six percent said allocating resources in a way that really supports the strategy represents a big challenge;
- And 54% said quickly translating strategic and operational decisions into action is a challenge.
Over the next two weeks we will be responding to each one of these concerns by providing actionable steps leaders can take to tip the scales of strategy execution in their favor.
Article originally appeared on Cambridge Performance Partners (http://www.cambridgeperformancepartners.com/).
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