The Secrets Of Strategy Execution

Executing a strategy is rarely a straightforward process. We look at the challenges associated with following through on strategic plans and how to boost your chances of success

- Neil King

Delivering on intent might be a key aspect of successful leadership, but in most cases it is much easier said than done.

In fact, most companies would probably admit they are not very good at it – a notion backed up by a Harvard Business Review survey. During a period of five years in the early part of the 21st century, with a database of 125,000 people’s responses, HBR found that employees at three out of every five companies rated their organisation as ‘weak at execution’. When asked if they agreed with the statement ‘Important strategic and operational decisions are quickly translated into action’, the majority answered ‘no’.

For many firms, the failure to execute a strategy doesn’t just have implications for the reputation of the management – it can put the company's entire operation and existence at risk.

But how exactly do you close the gap between a leadership team’s vision and that vision’s execution, and what are the threats to success?

Leadership

Perhaps the biggest saint and sinner in the entire scenario can be the leader or the leadership team.

Another HBR survey – this time in 2013 – showed that only 8 per cent of leaders were effective at both strategy and execution, suggesting the potential for great ideas but poor follow-through.

In a 2015 PwC study of 6,000 senior executives, the exact same percentage of respondents were found to be ‘strategic leaders’.

One of the dangers associated with these figures is that a leader might not acknowledge his or her limitations, meaning excellent ideas are put forth, but without an appropriate strategy.

To avoid this and similar scenarios, leaders must lead in ways that include entire teams.

In a 2016 article, PwC’s Jessica Leitch,