Why good strategies fail: Lessons for the C-suite
This report addresses how C-level executives engage in the implementation of strategies. It also explores barriers that impede the integration of strategic initiatives into business operations and results. The report draws on a survey of and in-depth interviews with senior executives.
Key findings include:
- While executives recognize the importance of strategy implementation, the majority admit that their companies fall short
- Many executives admit that the level of senior-level sponsorship for projects is lacking
- Executives should identify and focus on strategically relevant projects and provide general oversight, not micromanagement
- Most companies lack the skills or fail to deploy personnel needed for strategy implementation
- Success results from working at implementation in a variety of ways
61 percent of respondents admit that their firms often struggle to bridge the gap between strategy formulation and its day-to-day implementation.