Taking the Risk out of Strategy Execution
According to Harvard Business Review, 67% of well-formulated strategies fail due to poor execution. To hear about why so many businesses fail to deliver their plans, CEO Today caught up with Rob Shorrick, CEO of The Leadership Gallery – an organisation dedicated to helping businesses take the risk out of strategy execution.
Why do strategies fail?
When coming up with a strategy, how good are the assumptions you have made about markets, competitors, capabilities, costs, regulation and technology? Is your strategy still viable if assumptions go wrong? Are your structures, processes, decision-making mechanisms, metrics and reward systems future-facing?
Whether your business is a large, multi-national player or a small or medium-sized enterprise (SME), it needs to have a strategy or business plan. In some cases, this is very formal and well documented, and in other cases, it’s an informal but well-understood plan. So why do so many strategies fail?
From our experience, there could be a number of different reasons for this. Some could be connected to how aligned the senior team is around the strategy and plans which they have created. Others are borne out of differences of opinion amongst the senior team or the lack of business leaders’ capabilities to ensure the strategy’s success. Additionally, you need to make sure that the workforce is engaged, that the business has the right culture to ensure successful strategy execution and that the organisational structures and processes are set up to deliver.
Having invested considerable time, money and effort into developing your strategy, failing will be an expensive mistake to make. Over the past three years, The Leadership Gallery’s team of business and organisation experts have developed and road-tested Align+™ – a unique suite of diagnostic tools which enables leaders to identify the gaps in their strategy: what are the risks, what are the strengths, where are the weaknesses and what actions they should take to ensure it delivers its intended business outcomes.
The Leadership Gallery works with organisations, both large and small, that have already put together their strategy and who want to ensure it succeeds. The Align+™ suite consists of nine diagnostic tools which businesses use to question the effectiveness of their strategy and determine whether it will deliver as planned. Most organisations start with the leadership team completing Align+™ Strategy, a short diagnostic followed by a facilitated workshop in which the findings are reported back and the team determining what actions should be taken to address the gaps and minimise the weaknesses.
Align+™ – Giving the Confidence to Proceed
About The Leadership Gallery
The Leadership Gallery is a team of highly experienced business leaders and consultants with first-hand knowledge and expertise of organisational design, transformation and strategy implementation in global organisations. The company advises clients on the brink of change, experiencing factors which have a significant impact on their business plans – issues such as digital disruption, political uncertainty and the speed of technological innovation.
The Leadership Gallery works with small, medium and large organisations in different sectors including not-for-profit organisations, financial services, IT, healthcare, engineering, professional services.