Is your strategy compelling?
In my regular MBA teaching session on strategy execution I offer 7 principles that underpin execution. Number 1 on the list: start with a compelling strategy. It might seem obvious, but can you, hand on heart, declare your strategy is ‘compelling’?
The Board/Executive strategy workshop - a practise note
Henry Mintzberg wrote 25 years ago: we need better practice, not neater theories. Amen to that. Much of the writing on the ‘formal strategy process’ ignore the practical reality that strategies have a life cycle.
I feel the need, the need for speed...
When we think about decision-making, we probably think first about decision quality: getting decisions right. And why not? Rio Tinto would prefer it made a better decision when it spent $39B on the Alcan acquisition (since written off ca. $33B).
MBA reflections... what stuck?
In parallel with my consulting/advisory practice, I just finished teaching business strategy – the traditional capstone unit – to 47 MBA students. What stuck across that 12-week period? One way of judging that is through the students’ learning journals.
Are we really that bad at strategy execution? Mostly yes...
Last night I was teaching strategy execution on the MBA capstone unit. I asked the participants: ‘In your experience, how well did the companies you know rate on strategy execution on a scale of 1-10? Only one rated some of the companies he’d worked with above 5.
Strategy, execution and dog food...
As I write this, I am a participant in our strategic planning forum with a mix of old and new ‘friends’. Having written so much on strategy execution, it seems now I have to eat my own dog food. I
What's your plan to overcome the strategy-execution deficit?
The first step in solving any problem is to recognise there is one. Reed Hastings, the founder/CEO of Netflix, recently commented that Netflix was enjoying a period of stability; that now it knew exactly where it was going: ‘our challenges are execution challenges’.
Bridging the Strategy-Execution Air Gap
My previous blog highlighted the opportunity for dramatically improved strategy execution if organisations get the socio-cultural elements right. But only if the 'structural' elements of execution are in place. The reaction of one reader highlights the challenge:
Can someone help me please? I'm stuck!
At a recent workshop on strategy execution, one of the executives said she felt ‘stuck’ as she thought about how to translate their strategy into outcomes. That’s unsurprising. Research consistently shows organisations massively under-perform on strategy execution.
Rethinking leadership development - it's about strategy execution
About 15 years ago, a major Australian resources company set out to develop ‘world-class leadership’. But Professor Chris Worley rebuts the usual prescription of ‘more leadership’. He argues that asking people to change behaviours without changing the underlying system – the structure, systems and processes – is borderline immoral.
Strategy, execution and accountability
Last week I posted a note on the strategy vs. execution debate. A friend and colleague emailed me to say he thought it was a good post… but he disagreed! We’re having an interesting exchange offline, but he raised the issue of accountability.
The Strategy vs. Execution debate
A recent article and posting on Harvard Business Review has again promoted debate around the distinction between strategy and execution, with two highly credentialed business professors arguing the toss.
Strategy execution - the winning edge
Are you prepared to invest to lift the 'realised value' of your strategy by more than 20%? The simple truth is that this 'extra' value is usually accessible through better execution!
Strategy execution and the PMO
The data on the failure rate of strategy execution has been widely reported and is no surprise in most organisations. The specific numbers reported vary, but the effectiveness in implementation of strategic initiatives is typically around 60%.
The road to high performance - why is it so hard?
In 2006, HBR published a review of 10 major studies that have since tried to develop a theory of high performance: the search for the Holy Grail continues.