Although the topic of implementation may not be the most exciting thing to talk about, it’s a fundamental business practice that’s critical for any strategy to take hold. Getting Your Strategy Ready for Implementationįor those businesses that have a plan in place, wasting time and energy on the planning process and then not implementing the plan is very discouraging. However, this is just a plan it doesn’t guarantee that the desired performance is reached any more than having a roadmap guarantees the traveler arrives at the desired destination. 95% of the typical workforce doesn’t understand their organization’s strategy.Ī strategic plan provides a business with the roadmap it needs to pursue a specific strategic direction and set of performance goals, deliver customer value, and be successful.86% of business owners and managers spend less than one hour per month discussing strategy.75% of organizations don’t link employee incentives to strategy.60% of organizations don’t link strategy to budgeting.
According to Fortune Magazine, nine out of ten organizations fail to implement their strategic plan for many reasons: Sadly, the majority of companies who have strategic plans fail to implement them.
Critical actions move a strategic plan from a document that sits on the shelf to actions that drive business growth.
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