In contrast, tactics (the "how we're going to do what we're supposed to do" - the execution element) is typically thought of as the grunt work, relegated to and performed by the rest of the organization. Yet, it's these tactics - the focused activities performed by every person, every day - which are the difference between organizations that perform predictably and consistently - and those that don't.
It shouldn't surprise anyone, then, that:
- Less than 10% of even well-formulated strategies are successfully executed
- Only 5% of employees understand their organization's strategy
- Only 3% of executives think their company is successful at executing their strategies
- And that "excellence of execution" is the #1 top challenge of CEOs worldwide
BOTTOMLINE: Building an organization that can develop strategy, plan (formulating tactics) and execute is not easy. Developing and executing a strategy that's balanced in growth and profitability is extremely difficult - and is therefore rare. And what is rare, is considered valuable. It's time to seek out a revolutionary new approach to the oldest and most difficult challenge in business - one that focuses on the much harder of the two (execution).