It's the execution of strategy that keeps many small business leaders awake at night!
Why is execution so hard?
Because making the plan work is even bigger challenge than creating the plan: Making strategy work is more difficult than the task of strategy making.
Execution is critical to success. Execution represents a disciplined process that enables an organization to take a strategy and make it work. Without a careful, planned approach to execution, strategic goals cannot be attained.
Developing such a logical approach, however, represents a tremendous challenge - particularly to leaders of growing organizations.
Here are the key take-aways:
- Making strategy work (execution) is critical - and much more difficult than strategy formulation
- Even the best plans still fail or don't meet expectations -- because of poor execution.
- Despite its importance, execution is often handled poorly by many organizations.
The continual problem?
Much more is known about planning than doing, about strategy-making than making strategy work. And business leaders still don't seem to understand a great deal about the execution of strategy.
The obvious questions?
- If execution is paramount to success, why don't more organizations develop a disciplined approach to it?
- Why don't companies spend more time developing and perfecting processes that help them achieve their strategic goals?
- Why can't more companies execute strategies - consistently?
Because - execution is extremely difficult. We're all taught to strategize, and to plan - but little time is spent teaching (and learning) how to execute!
BOTTOMLINE: From the CEO on down, everyone within an organization must commit to and own the processes and actions related to effective execution. Everyone must learn to be accountable for their activities and projects, and these effort must relate to the goals, and ultimately the strategy of the company.