For many organizations, strategy (the “why we’re going to do what we’re doing”) is one of those mysterious, behind-closed-doors activities conducted annually by a small group of senior leaders. It’s viewed as a superior mental and managerial activity.
In contrast, tactics (the “how we’re going to do what we’re supposed to do” – the execution element) is typically thought of as the grunt work, relegated to and performed by the rest of the organization. Yet, it’s these tactics – the focused activities performed by every person, every day – which are the difference between organizations that perform predictably and consistently – and those that don’t.
It shouldn’t surprise anyone, then, that:
* Less than 10% of even well-formulated strategies are successfully executed
* Only 5% of employees understand their organization’s strategy
* Only 3% of executives think their company is successful at executing their strategies
* And that “excellence of execution” is the #1 top challenge of CEOs worldwide
Strategy forumation (selecting the right long-term objectives and envisioning a way to get there) — AND consistent execution — are the greatest sets of skills any organization can develop. And, successful organizations need BOTH skills.
BOTTOMLINE: Building an organization that can develop strategy, plan (formulating tactics) and execute is not easy. Developing and executing a strategy that’s balanced in growth and profitability is extremely difficult – and is therefore rare. And what is rare, is considered valuable. It’s time to seek out a revolutionary new approach to the oldest and most difficult challenge in business – one that focuses on the much harder of the two (execution).
About The Guest Author: Skip Reardon is the Director of Digital Marketing and Social Networking for Six Disciplines. A 27-year marketing and communications veteran, he’s also responsible for branding, marketing campaigns, web content and he’s also the editor of the Be Excellent blog.