Sometimes, a newly created strategy just doesn’t work. Here are 5 main reasons of failures with strategy implementation:
1. Failure to understand the real situation in the company.
It’s very important to know where company was before strategy implementation. If the current situation wasn’t properly understood, then it can lead to false conclusions during creation of strategy.
2. Failure to create a reasonable strategy.
Strategy shouldn’t be just loud and fine words. If there’s no real meaning behind the plan, then it wouldn’t resonate among employees. Even more – there would be no substance behind such a plan. The strategy’s endgame should also be understandable for employees, as they should clearly see what are they working for.
3. Failure to find the right people.
It’s very important to involve the right people into the process of strategy implementation – the influential people who can inspire other employees. Identification and engagement of such key persons is required.
4. Failure to determine the time for implementation.
Strategy implementation might take a lot of time. But if it doesn’t work for a long time, then it might be time to change something. It’s also important for employees to actually spend time to strategy implementation, not just everyday work.
5.Failure to change the new strategy
Implementation process must be dynamic. As company’s environment, both internal and external, never fails to change, so a strategy should be changed as well. Failure in monitoring and alterations will surely lead to overall failure of implementation, as strategy was originally based on already outdated premises.
by The Editorial Board