What are the activities involved in strategic implementation?
Answers
Implementation is the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals. Implementing your strategic plan is as important, or even more important, than your strategy. The video The Secret to Strategic Implementation is a great way to learn how to take your implementation to the next level.
Critical actions move a strategic plan from a document that sits on the shelf to actions that drive business growth. Sadly, the majority of companies who have strategic plans fail to implement them. According to Fortune Magazine, nine out of ten organizations fail to implement their strategic plan for many reasons:
60% of organizations don’t link strategy to budgeting
75% of organizations don’t link employee incentives to strategy
86% of business owners and managers spend less than one hour per month discussing strategy
95% of the typical workforce doesn’t understand their organization’s strategy.
A strategic plan provides a business with the roadmap it needs to pursue a specific strategic direction and set of performance goals, deliver customer value, and be successful. However, this is just a plan; it doesn’t guarantee that the desired performance is reached any more than having a roadmap guarantees the traveler arrives at the desired destination.
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