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Organizational transformation Closing the Strategy Execution Gap
Strategy making and execution are essential to organizational success, and today’s business climate - rising globalization, increased regulation and compliance, emerging technologies - requires more coordination and agility than ever before.
People at all levels of the organization are obliged to take on more leadership and decision-making responsibilities.
A study by Bain & Company revealed that companies spend 300,000 hours a year supporting weekly executive briefings. This inability to make quick decisions is a critical issue and contributes to the strategy execution gap.
However, many organizations are continuously challenged with bridging the gap.
Operating in times of uncertainty and disruptive change, more and more companies are undergoing transformations, yet only 12% fully accomplish their goals.
Challenges to successful strategy implementation
Having access to information to drive executive decisions is a powerful enabler that will help to close the strategy execution gap.
Companies that make effective decisions and execute them well enjoy superior financial performance and much higher employee engagement.
Bridging the strategy execution gap starts with peopleAccording to a recent TwentyEighty Strategy Execution Project Manager Salary and Talent study, 83 percent of project organizations reported that they were understaffed. This number will continue to rise as demand for talent in the marketplace continues to increase.
Our research makes it easier to talk about the knowledge and skills required to improve organizational performance by strengthening strategy execution alignment.
Organizational transformation strategies entail the execution of programs, projects and initiatives to achieve business objectives.
Mind the Gap: Connecting Strategy Design and Delivery
Research reveals that executives recognize there is a gap between strategy design and delivery.
In an era of disruption and volatility, what are the main causes of this gap?
What can leaders and organizations do to close this gap, by implementing the right strategies in the right way?
Watch strategy and innovation experts, and leaders at the Brightline Initiative’s Strategy@Work conference in NY City.
Rita McGrath: “We (leaders) have this enormous desire to be right. The amount of human breath that gets wasted on trying to prove that we’re right about situations in which there are no data and where you know the right answer doesn’t exist yet it’s just ridiculous, So let’s stop arguing about who’s right and instead focus your energy on figuring out what the right answer could be.”
Prof. De’Aveni: “We are too often stuck in old paradigms that make it impossible for us to think about the future and we need to break that before we get anywhere.”
Montazar Muhalhal: “Whenever we’re faced with a challenge we used to either throw processes at and think that they would be resolved or assigned KPI’s which in my opinion don’t work so it’s it’s extremely important to think of how would we have another third duffel bag in order either to mix both.”
Deepa Prahalad: “While there is a lot of choices still left to be made by humans even in the advent of new technologies new questions arise about our perspective, processes and how to best deploy the new tools that we have.”
Organization Transformation & Change Management
Only 12% of companies that launch change initiatives fully achieve their goals.
94% of executives say they face challenges when trying to create a culture of change
38% of executives say employees see change as a threat to their jobs
Brightline Initiative study | Economist Intelligence Unit
Strategies of Change
How should we design our strategy in a changing landscape?
Watch Martin Reeves - Director, The Boston Consulting Group Henderson Institute speaking to strategy executives and thought leaders at the Strategy@Work Conference.