Strategy Execution: New Year's Resolutions For Business
So here we are a month into the New Year. A month ago did you make a plan to improve yourself this year? You know the whole New Year’s resolution ritual? Did you vow to go to the gym more, spend more time with your family¸ eat healthier, save more, volunteer more, donate money to charity, a home improvement project, etc.? How are successful have you been in keep with your resolutions? Statistics show those two weeks into the New Year about half have given up on their resolutions.
Businesses also make plans to improve themselves going forward. They refer to them as strategic plans or a business strategy rather than a resolution. They fare worse than you or I at their resolutions as per Harvard 90% of all business strategies fail. Strategy is essentially where a business plays and how they are going to win in their respective space so that is a very scare statistic. How much money is left on the table then as far as top line, bottom line, market share, etc. by not executing the strategic plan?
Consider how much effort businesses put into the plan in the first place. They may or may not hire an expensive consulting firm, conduct industry research, SWOT Analysis, Porter’s 5 Forces Analysis, spend hours creating PowerPoint slides, blinding and complex excel sheets, perhaps an expensive off site executive retreat to agree on the strategy. All of these resources expended just to have a meager 10% success rate at strategy execution?
This is why we at CNC Strategy Cloud Solutions, Inc. exist. We offer online products and solutions to businesses to dramatically increase the odds of a successful implementation of a strategic plan. Businesses can therefore achieve their New Year’s resolutions! If you are a business owner or executive please check out our website for a 30 day free trial and then see the difference in your business’s financial performance.
An average strategy that is well executed will beat a great strategy poorly executed; every time.”
Source: Andrew Houston