#Hidden business issues how to
#Hidden business issues full

I’ve got an idea where we are at (but the numbers or figures are outdated or wrong).If I was to ask a typical team member – how specifically are you tracking against your strategic imperatives? The kind of ‘honest’ responses you’d expect to see fall in three categories: ‘Quality, timely conversations around strategic performance’ is the GPS navigation system for strategy. Once you plug in your desired destination, it will guide you through the most effective way to get there. The great thing about a GPS navigation system is it keeps you on track. Quality and timely strategic performance conversations The biggest problem we are seeing with business strategies today, however, revolves around one critical area.

#Hidden business issues how to

Senior leaders do not agree on how to execute the plan.There are too many strategic or change initiatives at the one time.A small number of clearly defined lead and lag performance indicators are not summarised on a page.Focus is too tactical and short-term – not enough deep thinking is given to staying relevant and delivering value in the future.The strategy isn’t actually a strategy at all – it doesn’t make clear choices about where to play, how to win and how to configure the business.

#Hidden business issues full

Working with over 750 businesses in 76 countries over the past 30 years, at Quest Worldwide, we have seen the full gamut of where strategies fail.

Therefore, it is not from lack of information or interest that effective strategy execution remains a problem. Data from Gartner in 2019 also indicates that 56% of strategic planning is seen as wasted time.Ī simple google search on strategy execution unveils more than 250 million results.

Only one in five businesses are hitting 80% of their strategic targets, according to a June report from the Harvard Business Review this year. However, the research on successful strategy delivery suggests some serious underlying issues. With many businesses today under increased pressure due to COVID-19 complications, getting the strategy right and executing it effectively has never been more critical. In 2003, Lego came within six months of filing for bankruptcy and BlackBerry shares went from US$144 to US$6.50 in just five years through some poor strategic choices. In the 1990s, Apple was just 90 days from being insolvent, making a loss of US$867 million. Historically, many businesses have been forced to learn the hard way when their strategies have not quite gone to plan. However, it often plays out very differently in reality. Setting a stretching, yet achievable strategy and rallying the troops to deliver it might seem like a simple prospect.