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Accelerating Business Results Through Better Execution

White Paper Published By: AchieveIt
Published:  Sep 11, 2012
Type:  White Paper
Length:  8 pages

We hear this all too often: Executives who complain about the amount of time spent on elaborate strategic and operational plans, only to see very little return for their efforts. This is not isolated complaining; it is a global problem across all industries. Just consider these findings from some pretty reputable folks:

"Less than 10% of strategies effectively formulated are effectively executed."

- Fortune magazine

"In the majority of cases - we estimate 70% - the real problem isn't bad strategy. It's bad execution."

- Fortune magazine

"90% of strategies fail due to poor execution."

- Harvard Business School Press

Why does this happen? And what can you do to prevent it from happening to you?

Failure to generate real, meaningful business results stems from two root causes. Eliminate the root causes of your problem, and you eliminate the problem itself.

First, to elevate performance and accelerate results, your plans must include measurable and quantifiable objectives. All too often, plans are nothing more than a compilation of task lists, with no real correlation with strategic and operational results. Don't confuse being busy with being strategic.

Second, once the plan is in place, there has to be rigorous oversight. If you want to create a culture of execution in your company, then make execution a priority. Demonstrate the importance of plan implementation on a regular basis.

Tags : 
strategic planning, execution management, energy