Strategy Chasm™ : Common Pitfalls
Does your company fall into the Strategy Chasm™?
Yes, a deep, dark place where the best intentions of the corporate vision become swallowed up and lost.
Can you really measure your Return of Strategy?
What happens if management fails to convert strategy into action?
Do you recognize the pitfalls before it’s too late?
Does your company hope that the strategy execution problems will go away, people embrace change, and business goes on as usual?
Or, can you learn about the 5 fundamentals of strategy execution from leading deployment professionals and put them into action?
Stay with us for a moment, and learn more about the key pitfalls of strategy implementation:
Strategy Chasm™ PITFALLS EXPLAINED
What is happening at the tactical level as the strategic plan dissolves, devolves, descends and eventually fails involves a number of obstacles between strategy and action? These pitfalls, that define the strategy chasm, come in several sizes and shapes:
- 1. No expected or measured return on strategies and initiatives. Projects and personnel are budgeted and tracked. Return and company strategy is not (Solution: Measurement)
- 2. Clogged strategic pipeline: strategies and action plans are not aligned and communicated, leading to numerous action plans and projects not tied to corporate strategy, and proliferation of duplicative projects between departments with insufficient resources to apply. The pipeline backs up or leaks as management’s actions and decisions fail to consistently match management’s proclaimed values and objectives. (Solution: Alignment)
- 3. Regimented, lengthy annual planning cycles: Executive strategic planning generates the cycle, followed by budgeting and then lower level action plans. By the time projects are assigned, 6 months of the year might have passed and the changing conditions lead to action plans that are no longer a high priority (Solution: Generation)
- 4. Organization disconnects between departments/units and levels. Lead to competing goals, objectives and targets. Executives focus on strategy, managers focus on budgets and staff work on tactics with little real time updates and feedback. (Solution: Integration)
- 5. Set-in-Stone company attitudes that resist change: strategies are communicated down the organization, yet projects & actions are based on “the priority of the week” (Solution: Culture)